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.
UAE forecasts strong winds and rough sea conditions until April 3
UAE President receives call from Russian President
UAE intercepts 12 missiles and 36 drones on Tuesday
UAE joins UN Human Rights Council consultative group
Abdullah bin Zayed, Greek Defence Minister discuss Iran developments
