Nesto Group Director receives UAE’s permanent residency gold card

Ajman: Siddique Pallolathil, the Director of Nesto Group, has received the Emirate of Ajman's first golden residency card.

These golden cards are to be given to investors, entrepreneurs, and talented people who can benefit the Emirates, and grant a host of special privileges including a permanent residency.

According to WAM, the UAE’s state-run news agency, "The General Directorate for Residency and Foreigners Affairs in Ajman has issued the first gold card to Mr. Pallolathil as part of the permanent residency system tailored for investors.

"The Gold Card System was implemented as per the Cabinet decision No. 56 of 2018, by which a package of facilities has been offered to investors, entrepreneurs, talented people who meet specified conditions as well as their families."

The permanent visa was presented to the Nesto Group Director by Brigadier Mohamed Abdullah Alwan, who is the Executive Director of the General Directorate for Residency and Foreigners Affairs, GDRFA, in Ajman.

The brigadier spoke about the benefits that this residency can give to those who have it.

Brigadier Alwan said that the permanent residence system 'Gold Card' contributes to maintaining the state's leading position as a magnet for capital and investments and harnessing the skills and abilities of residents in various medical, engineering and scientific fields.

The gold cardholders are entitled to a host of privileges and facilities including a residency visa without a sponsor to them and their families (spouse and children). The holders can also sponsor up to three workers and obtain a residency visa for one of his/her senior employees.