Dubai, Jun 3: UAE-based businessman, LuLu Group chairman M.A. Yusuffali has become the first expat to get the exclusive Permanent Residency 'Golden Card', Wam reported on Monday.
The Abu Dhabi-based Keralite tycoon is worth $4.7 billion - ranked the richest expat in UAE according to Forbes magazine's 2019 list of billionaires.
The UAE has started issuing the permanent residency documents to select people earlier in May.
Commenting on the honour, the humble tycoon said:
'Obviously a very proud and emotional moment in my life. UAE has been my home for more than 45 years now. Whatever I am today is thanks to this great country, which has given me more than what I can dream of.
To be the first one to receive this great honour is truly a very humbling experience, and I sincerely thank the visionary rulers of this great country. It is their far-sighted vision which has made UAE, one of the most safe, secure, tolerant and developed nations in the world.
I am sure this new Gold Card permanent residency scheme aimed at key investors ,who have played a defining role in the nation building process, will further boost UAE's image as one of key investment & business global hubs as well as attract and retain new investors here.
I see this as an honour not only for me but for the entire expat community from more than 200 countries residing here, for whom UAE has been almost like a second home.'
The new initiative had identified the first 6,800 qualified expats from over 70 countries.
Earlier, over the weekend, ICA and the Ministry of Economy discussed means of cooperation between them in order to enhance opportunities for attracting investors and entrepreneurs in various fields and to promote facilities, which can be provided by both sides in their respective fields of specialization. This in turn would facilitate business conduct and create an investment environment which attracts and encourages business growth and success in the State.
During the meeting, Al Rashidi presented the details stipulated in the Cabinet Decree No. (56) of 2018 concerning the organization of permanent residence permits for investors (Golden Card), entrepreneurs, specialized talents, and other categories included in the Decree and privileges granted to each category and the conditions to be fulfilled by the applicant in order to benefit from these privileges.
Udupi, Jan 4: A 37-year-old Udupi district JD(S) spokesperson allegedly committed suicide at his residence here last night, police said on Saturday.
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