Dubai: Kamal Vachani, Group Director of Al Maya Group, is among the first recipients of long-term 10-year residency visa as an investor.
In a historic move, the UAE government launched a ‘Gold Card’ scheme with three categories of permanent residency, 10-year long-term visa and 5-year long-term visa.
Last month, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the ‘Gold Card’ scheme to grant permanent residency benefits to investors, entrepreneurs, specialised talents, researchers, and outstanding students.
The Gold Card offers unprecedented benefits to the cardholders and their families while creating an attractive environment for business and growth.
The new permanent residency initiative has identified the first 6,800 qualified expats from over 70 countries, to benefit from the Gold Card scheme’s unprecedented benefits.
Kamal Vachani is among the first 6,800 qualified expats who received the 10-year long-term visa.
“I feel proud to receive the 10-year long-term residency visa. It’s a great initiative taken by the wise leadership of the UAE. It will encourage more investors to come to the UAE,” Vachani said.
Al Maya Group, the UAE-based business conglomerate, has more than 50 supermarkets in the GCC countries in addition to other businesses.