Known as the Gold Card, the permanent residency was announced earlier this year and Indian Businessman Firoz Merchant is the latest to be awarded this valuable status. Permanent residency is delivered by way of a 10-year auto-renewable visa.

Mr. Merchant is Chairman and Founder of Pure Gold Jewellers and received the visa along with his family from Maj Gen. Mohammad Ahmad Al Merri, Director General of the General Directorate of Residency and Foreigners Affairs in Dubai; Col. Dr Omar Ali Saeed Al Shamsi, Assistant Director-General for Entry and Residency permits; Lieutenant Colonel Ali Malallah, acting deputy assistant of the director general for entry and residency permits and other government officials.

Mr. Merchant said the permanent residential permit would “boost confidence and loyalty” among investors residing in the UAE, he also added;

The UAE is the university of the universe and among the greatest and most beautiful countries in the world. The country provides world class safety, security, education and heathcare facilities to its residents to live a valuable life.

Other notable businessmen to have been granted either a long term 10-year visas or permanent residency include; founder chairman and managing director of Aster DM Healthcare Dr Azad Moopen; Regal Group chairman Vasudev Shamdas Shroff; Lulu Group chairman Yusuff Ali MA; chairman of ITL Cosmos Group Dr Ram Buxani; owner of Khushi Jewellers Khushi Khatwani; and founder and chairman of Danube Group Rizwan Sajan.

According to Mr. Merchant;

Over 250 nationalities residing in the UAE are united as a family trying to fulfil their dreams and live a better future. I am very grateful and thankful to the government for granting me the lifetime permit to reside in the UAE with my family.

Mr. Merchant received his Gold Card at General Directorate of Residency and Foreigners Affairs (GDRFA) in Abu Dhabi on June 2nd.