Everyone who lives in Dubai knows that availing permanent residency has been difficult in the past but now thanks to the new rules and regulations non-emiratis can avail permanent residency by being an investor with a total investment of or exceeding AED100 billion.

You can now apply for permanent residency if you have a total investment of AED100 billion

According to local news, Yusuff Ali, the chairman of Abu Dhabi-based Lulu Group, has been issued with a first gold permanent residency card.

The gold card scheme was announced by Sheikh Mohammed bin Rashid Al Maktoum, UAE Prime Minister, Vice President and Ruler of Dubai last month and has around 6,800 investors already lined up for the permanent residency.

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The main objective of this scheme is to allow space for foreign investments to generate businesses and incomes.