Indian investor Yousuf Ali gets first UAE 'Golden Card'

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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.

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