The emirate of Ajman has issued its first golden card visa to Indian businessman Siddique Pallolathil, the director of retailer Nesto Group.
Pallolathil received the visa from Brigadier Mohamed Abdullah Alwan, executive director of the General Directorate for Residency and Foreign Affairs in Ajman, official news agency WAM reported.
Earlier this week, the emirate of Sharjah also granted its first gold card residency to an Indian businessman.
It was given to Lalu Samuel, the chairman and managing director of Kingston Holdings.
The UAE launched the permanent residency scheme for expatriates in May.
Permanent residency will be granted to “exceptional” professionals, Sheikh Mohammed bin Rashid Al Maktoum, the country’s Vice President and Prime Minister and Ruler of Dubai said at the time.
“We launched a new “Golden Card” system to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists,” he said.
The first batch of 6,800 recipients includes expats who have made total investments of over Dhs100bn.
Indian businessman M.A Yussufali, the chairman and director Lulu Group, became the first expat in the UAE to receive the gold card permanent residency in June.
Gold card holders are granted a 10-year residency visa covering them and and their families (spouse and children) without the need for a sponsor, which will be automatically renewed provided all the conditions are met.
They can freely move in and out of the country and investors can also employ three workers and obtain residence for a senior employee, advisor or manager.