UAE launches permanent residency scheme for expats

Tuesday, May 21, 2019

The UAE has launched a permanent residency scheme for expatriates dubbed the ‘Golden Card, the country’s Vice President and Prime Minister and Ruler of Dubai announced on Tuesday.

The move will see permanent residency granted to “exceptional” professionals, Sheikh Mohammed bin Rashid Al Maktoum said on Twitter.

He said about 6,800 will benefit from the scheme under the first round of applications.

“We launched a new “Golden Card” system to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists,” Sheikh Mohammed said.

“Residents are an indispensable part of our country,” he added.

The Federal Authority for Identity and Citizenship (ICA) will oversee the scheme and announce more details shortly, the UAE Government Communication Office said.

The move will have a positive impact on the local property market, opined Lewis Allsopp, CEO of Allsopp & Allsopp.

“Most expats have a money-making mindset when they move to Dubai with a short-term plan and goal before moving back to their home country,” he said.

“The UAE Cabinet’s decision to enforce a Gold Card for permanent residency now allows expats to look at Dubai as a home rather than a temporary plan.”

He added: “The Gold Card will further the stability of the UAE by encouraging more distinguished professionals to the country. The property market will benefit hugely from this step in strengthening the economy.”

The latest announcement comes after the UAE announced last year that it would grant five or 10-year residency visas to investors, entrepreneurs, specialists in the medical, scientific, research and technical fields, and ‘outstanding’ students to “facilitate business and create an attractive and encouraging investment environment” in the country.

It has already started issuing the longer-term visas to scientists as well as entrepreneurs and investors.

The UAE’s move also comes soon after Saudi Arabia implemented a ‘green card’-style residency scheme for expats.

The special residency scheme is aimed at attracting wealthy and high-skilled expats and will grant the special iqama (permit) holders residency without the need for a Saudi sponsor.

Under the law, the holder of such an iqama will have family status, can recruit workers, own and lease property and transport in the kingdom, can obtain visit visas for relatives, can freely enter and exit the country and will also have the use of designated queues at airports.

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Express your comment on this article

 
Mr.Modi
Sunday, May 26, 2019
Modi je vikas layainge, phir humsab bharat return jayainge.
Bharat Mata ki Jai.

Rich In Kuwait
Wednesday, May 22, 2019
Mohan don"t praise them...its not welfare of expats its their welfare...they want rich expats not people like us...people like us are consider as burden in every country...But why Rich Indian will go to Saudi & UAE?????Why to go to desert if you have money as there are many other better options like switzerland or austria for rich people...they are welcome everywhere on investment visa ...even many beautiful countries giving passport if you are rich.....only problem with people like us who go to other country to make mon ey....

Lakshman
Wednesday, May 22, 2019
Very good decision..

Bajrangi Bhai
Wednesday, May 22, 2019
Reality :-
Rich are welcome everywhere. Who cares for poor ?

Mohan
Tuesday, May 21, 2019
This type of procedures leads to prosperity of the country. Country’s Vice President and Prime Minister and Ruler of Dubai is looking for the welfare of its citizen as well that of expatriates.
This type of procedures should be followed is other GCC countries, especially Kuwait, where expatriates are treated like burden to the country. God bless the Ruler of Dubai and his fly.

SAM
Tuesday, May 21, 2019
great vision

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