Reflects the UAE’s pro business attitude and openness of welcoming investors to their country
The UAE has just added another feather to its cap with the launch of a permanent residency system dubbed the “Golden Card”, granting a long-lasting residency for investors, exceptional professionals in various areas including medicine, engineering, and science.
On his twitter page, Shaikh Mohammad said: “Today, we have launched the permanent residency system- ‘Golden Card’. The Golden Card will be granted for distinguished individuals, exceptional talents and anyone who contributes positively to the success story of the UAE. We want them to be permanent partners going hand in hand with us in our journey. All residents in the UAE are our brothers and part of our great family in the UAE”.
The UAE’s decision to grant permanent residency to investors will attract long-term residents, investors and world’s best talent in diverse fields, hence increasing the size of the UAE’s economy and stabilising it, analysts, businessmen and entrepreneurs have said.
It is believed that the first beneficiary of this game-changing initiative will be existing businessmen, entrepreneurs and highly-skilled and qualified professionals and students who will convert their status and obtain the Golden Card.
Osama Al Rahma, CEO of Al Fardan Exchange and vice-chairman of Foreign Exchange and Remittance Group (FERG), said the permanent residency scheme will be very encouraging for the expat community and will reinforce their confidence in the country’s governance and economy.
“The announcement is great news for investors in the UAE, especially those who have been here for a long time, as they are now able to benefit from greater security and stability. Investors will be able to plan long-term strategies for their businesses and invest more in existing businesses, thus allowing capital to remain within the UAE,” Al Rahma said.
Dr Azad Moopen, founder chairman and managing director, Aster DM Healthcare, said this initiative has been a long-felt desire of the expat community to stay here permanently as many of them consider UAE as home.
“The ability to get a permanent residency will prompt people from many countries to come to the UAE and establish business. This will in turn improve the economy and increase employment opportunity,” said Moopen.
Praising the UAE’s decision of permanent residency, Taher Shams, managing director, Zulekha Healthcare Group, said this initiative will enable the group to plan long-term and look forward to greater success.
Source: Gulf News