ABU DHABI — The Federal Authority for Identity and Citizenship on Monday announced that it had issued its first gold residence card to Indian business leader Yusuffali MA, chairman of LuLu Group.

Yusuffali was handed the gold card in Abu Dhabi by Brig. Saeed Salem Al Shamsi, executive director of the General Directorate of Residency and Foreign Affairs, as he becomes the first of 6,800 investors to receive the permanent residency. The first batch of beneficiaries are investors with total investments exceeding Dh100 billion.

Unlike the long-term visa of five to ten years for businessmen and talented individuals, the Gold Card gives permanent residency to the holder.

Yusuffali, who has been based in UAE for more than 45 years, is by far considered as one of the biggest business leaders in the Gulf region with his retail and hospitality empire spread across the world.

With more than 170 hypermarkets and shopping malls, Lulu group employs more than 50,000 people comprising of 42 nationalities. — SG