The UAE has launched a Golden Card visa scheme, a permanent residency scheme, for expatriates. The announcement was made by the country’s Vice President and Prime Minister and Ruler of Dubai. The scheme is open to investors and exceptional talents such as doctors, engineers, scientists, students and artists as it will grant permanent residency.
Aim of the Scheme:
The scheme will attract greater foreign investment and stimulate the local economy, making it more efficient and attractive for investors. It will also increase the UAE's competitiveness and reaffirms the country's position as a global incubator. It aims to attract wealthy individuals and exceptional talents, a move that could attract more Indian professionals and businessmen to the Gulf nation.
The move will see permanent residency granted to exceptional professionals. The fifth category, outstanding students, will also be permitted residency visas for five years. All categories of visas can be renewed upon expiry.
The benefits of the permanent residency also include the spouse and children of the cardholder to ensure cohesive social ties.
5 categories of Golden Card visa:
The Golden Card visa includes five categories. They are:
1. General investors who will be granted a 10 year permanent residency visas .
2. Real Estate Investors, who can get a visa for 5 year visa.
3. Entrepreneurs and Talented Professionals like doctors, researchers and innovators can get 10 years Visa.
4. The fifth category is 'outstanding students'. These will also be permitted 5 years permanent residency visas.
5. All mentioned categories of visas can be renewed upon expiry.
Indians in UAE:
The Indian expatriate community is the largest ethnic community in the UAE. It constitutes roughly about of country's population, which is around 9 million. Although most of the Indians living in the UAE are employed, about 10% of the Indian population constitutes dependent family members. This Golden Card programme could attract more Indian professionals and businessmen to the Gulf nation.