Two more expatriates receive Gold Cards
ABU DHABI — Two more expatriates, VPS Healthcare’s Dr Shamsheer Vayalil and Alain Pharmacy Group’s Ziad Saleh, have been given the Gold Card by the Federal Authority for Identity and Citizenship (ICA).
Ziad Saleh is the first Arab expatriate to be given this card, according to an announcement made by the authority on Friday.
The Gold Card was handed over to both in Abu Dhabi, as part of the “Investors Permanent Residence System” implemented under the UAE Cabinet’s Resolution No. 56 for 2018, which aims to help investors, entrepreneurs and qualified individuals who meet its criteria.
The Gold Card was issued to Dr Vayalil by Brigadier Saeed Salem Al Shamsi, executive director of the General Directorate of Residency and Foreigners Affairs.
At 42 years, Vayalil is the youngest businessman to obtain the permanent resident status in the UAE. The benefits of the Gold Card will be extended to his immediate family members, including wife and children. Vayalil said he is greatly indebted and obliged to the UAE leadership for the recognition. “It is a proud moment. I express my sincere gratitude to the exemplary leaders of the country for their kindness, care and concern for foreign investors in the UAE,” he added.
“The permanent residency scheme is a great step towards attracting more investors to the UAE. Moreover, it shows the vision of the UAE leadership in honouring the investors, entrepreneurs and other specialised talents for their services. I am humbled and extremely proud. This is a great recognition for me in such a short span of time,” he added.
VPS Healthcare is one of the largest private healthcare groups the country with over 23 operating hospitals including Burjeel Hospital. As per the Forbes report of June 2019, Vayalil has a personal wealth of $1.4 billion.
The UAE has started issuing the permanent residency documents to select people earlier in May.
The UAE Cabinet has approved the long-term visa system for expatriates announced by the country earlier this year, while also confirming the criteria that need to be met.
The UAE also announced that it would grant five or 10-year residency visas to investors, entrepreneurs, specialists in the medical, scientific, research and technical fields, and ‘outstanding’ students to “facilitate business and create an attractive and encouraging investment environment” in the country. The visa benefits also extend to the wider family (spouse and children).
In January, the government also granted the first batch of long-term visas to 20 scientists who were the winners and finalists of the Mohammed Bin Rashid Medal for Scientific Excellence.
The new permanent residency initiative has identified the first 6,800 qualified expats from over 70 countries to benefit from the scheme’s unprecedented benefits.