An Ajman businessman is the first in the emirate to receive a golden card visa in a UAE-wide drive to honour the country’s most talented residents.
Siddique Pallolathil, director of Nesto Group, a leading retailer with scores of hypermarkets across the UAE and the rest of the Gulf region, has been selected as the latest recipient of the long-term residency initiative rolled out by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, in May.
Mr Pallolathil, from Calicut, India, was presented with his golden card by Brigadier Mohamed Abdullah Alwan, executive director of the General Directorate for Residency and Foreign Affairs, at a ceremony in Ajman.
On Tuesday, it was announced that Indian businessman Lalu Samuel was the first to receive the visa in Sharjah.
The golden card – a residency visa which is renewed every 10 years if certain criteria are met – has already been given to some of the country’s most influential executives since its launch.
The golden card affords a host of privileges, including residency visas for holders, their spouses and children, as well as the opportunity to sponsor up to three employees.
Thousands of foreign investors and residents have been identified as beneficiaries of the golden card permanent residency scheme.
Those to receive the visa include Yusuff Ali, the Lulu Group chairman; Mohammed Rahman, chairman and managing director of Al Haramain Group, and Shamsheer Vayalil, chairman and managing director of VPS Healthcare.
Sheikh Mohammed said the current investments of the 6,800 selected investors and residents were worth an estimated Dh100 billion.
The permanent visa aims to generate foreign investment, encourage entrepreneurship and attract top engineers, scientists and students.
Brigadier Alwan said the residency scheme would hep cement the country’s position as an investment hub and give security to residents across business as well as in medical, scientific and engineering fields.
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UAE's first golden card visa holders - in pictures
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Rizwan Sajan, founder and chairman of property developer Danube, was given a golden visa in 2019. At the time, he also welcomed the decision to allow mid-level managers earning Dh30,000 ($8,000) per month to apply for long-term visas. Antonie Robertson / The National -
Dr Azad Moopen, chairman and founder of Aster DM Healthcare, was also granted a 10-year residency visa. Randi Sokoloff / The National -
Fragrance tycoon Mohammed Rahman (C) receives his golden card visa at Dubai's immigration service, the General Directorate of Residency and Foreigners Affairs. The businessman, who runs Al Haramain Group, was the first Bangladeshi to receive the visa. Photo: GDRFA -
Firoz Merchant, founder of Pure Gold Jewellers, said it was 'a huge honour' to be granted long-term residency in 2019. Photo: Firoz Merchant -
MA Yusuff Ali, chairman and managing director of supermarket chain Lulu Group, pictured with Sheikh Nahyan bin Mubarak, Minister of Tolerance and Coexistence, was the first recipient of a golden card. The National -
Dr Shamsheer Vayalil, founder and chairman of VPS Healthcare, receives UAE permanent residency in summer 2019. Photo: Dr Shamsheer Vayalil -
Indian-Arab businessman Balvinder Sahni, owner of RSG International, which builds hotels and residential towers, was an early recipient of long-term visa. Reem Mohammed / The National -
Sharjah’s first golden card recipient was Lalu Samuel, chairman and managing director of Kingston Holdings and Chairman of Sharjah Industry Business Group. Photo: Kingston Holdings -
Siddique Pallolathil, head of hypermarket chain Nesto Group, was the first recipient in Ajman to received long-term residency. Photo: Siddique Pallolathil
