Indian investor Yousuf Ali gets first UAE 'Golden Card'

Indian billionaire Yousuf Ali is the first expat to be granted permanent residency in the UAE.

The Chairman of the Lulu International Group was given a 'Golden Card' by authorities on Monday.

He is the first of 6,800 investors with total investments of AED 100 billion who will get lifelong residency under a new scheme that was announced last month.

The initiative is expected to benefit investors and exceptional talents in the fields of medicine, engineering, science and arts.

Ali is also a Board Member of the Abu Dhabi Chamber of Commerce and Industry.