Sharjah issues its first Golden Card visa to an Indian expat businessman. The 10-year visa is a part of the long-term permanent residency system tailored for investors and entrepreneurs.

The visa was issued on Monday to Lalu Samuel, Chairman and Managing Director of Kingston Holdings and Chairman of Sharjah Industry Business Group, which functions under the Sharjah Chamber of Commerce and Industry, according to WAM news agency.

The Golden Card aims to attract capital and investments from entrepreneurs and owners of leading companies with international experts as well as professionals in all vital sectors of the national economy, researchers in scientific fields and outstanding students. The UAE has been looking for ways to attract residents with the intent to engage them in the renaissance and development of its economy.

The card-holders will be entitled to a host of privileges and facilities, including a residency visa without a sponsor to them and their families (spouse and children). It also allows the visa holder to sponsor up to three workers and obtain a residency visa for one of his/her senior employees.