Indian Businessman And Chairman Of Lulu Group, Yusuf Ali Becomes First Recipient Of UAE's Gold Card Residency
MA Yusuf Ali the Chairman of Lulu Group one of the biggest business houses in the middle east has become the first recipient of the gold card permanent residency in the United Arab Emirates UAE. According to Forbes magazine he is the richest expat in UAE.
MA Yusuf Ali, the Chairman of Lulu Group, one of the biggest business houses in the middle east has become the first recipient of the gold card permanent residency in the United Arab Emirates (UAE) an initiative which was recently launched to woo wealthy individuals and exceptional talents.
Ali, who hails from Thrissur in Kerala, was handed the gold card in Abu Dhabi by Brigadier Saeed Salem Al Shamsi, executive director of the General Directorate of Residency and Foreign Affairs.
According to reports, there are a total of 6,800 investors whose total wealth exceeds $ 27 billion who have applied for permanent residence in the UAE.
Unlike the long-term visa of five to ten years for businessmen and talented individuals, the Gold Card gives PR to the holder.
Ali who has been in the UAE for more than 45 years, is considered as one of the biggest business leaders in the Middle East. According to Forbes magazine, he is the richest expat in UAE.
His Lulu Group operates in a number of areas including retail and hospitality empire that is spread across the world, with more than 170 hypermarkets and shopping malls and employs more than 50,000 people.
Bobins Abraham is the Assistant News Editor at Indiatimes. He has more than twelve years of experience in TV and digital journalism. An avid student of history and geopolitics, he is a conservationist and environmentalist at heart. He writes on environment, sustainability, human-animal conflict and more.
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