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The United Arab Emirates (UAE) has launched a permanent residency scheme to woo exceptional talents and wealthy individuals.

Vice-President and Prime Minister of the UAE and Ruler of Dubai, Shaikh Mohammad Bin Rashid Al Maktoum on Tuesday introduced a permanent residency system. The scheme aims to attract more investor and professional to move there.

This is good news for investors in the UAE, especially for those who are there for a long time, can now be able to investor more in their existing business and plan long-term strategies for their businesses.

6,800 investors, whose total investments exceeded UAE Dirham 100 billion, have been already given Golden Cards.

Earlier this month, the UAE’s Director-General for Foreigners Affairs and Ports, Major-General Saeed Rakan Al Rashedi said, “The Golden Card visa categories include general investors who will be granted a 10-year visa, real estate investors, who can get a visa for five years, along with entrepreneurs and talented professionals such as doctors, researchers, and innovators 10 years.”

The fifth category, outstanding students will be permitted residency visas for five years.

Previously, two Indian businessmen benefited from the long term visa scheme announced in 2018.

As a matter of fact, over 80% of the UAE’s total population are non-natives living and working there.

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