Golden card scheme launched in UAE for permanent residency

After the introduction of the long-term visa programme for expatriates in the United Arab Emirates (UAE), the country has now launched a permanent residency scheme termed as the “Golden Card” for certain foreign nationals.

The UAE government also recently started accepting applications for long-term visas, specifically five-year and 10-year visas with the option of automatic renewal.

The UAE’s permanent visa is intended to generate foreign investment and attract top engineers, scientists and star students. The Vice President and the Prime Minister said about 6,800 people had been granted permanent residency under the first round of applications.

The Pakistani investors residing in the UAE also hailed the move and expected that the “Gold Card” will have a positive impact on the local market specially property sector.