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.