UAE launches ‘Golden Card’ scheme to woo wealthy investors, exceptional talents

  1. The United Arab Emirates(UAE) has launched a permanent residency scheme called as Golden Card programme.
  2. This scheme was introduced to attract wealthy individuals and exceptional talents such as doctors, engineers, scientists, students and artists.
  3. The Golden card visa categories include (a)real estate investors who can get a visa for 5 years (b)general investors who will be allowed visa for 10 years and (c)other entrepreneurs and talented professionals such as doctors, researchers and innovators for 10 years.
  4. Further,the outstanding students will also be permitted residency visas for 5 years.All categories of visas can be renewed upon expiry.
  5. The benefits of the permanent residency also includes the spouse and children of the cardholder to ensure cohesive social ties.
  6. This initiative will attract greater foreign investment and stimulate the local economy making it more efficient and attractive to investors.It will also increase the UAE’s competitiveness and reaffirms the country’s position as a global incubator.

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