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 engages six drones in past 48 hours
UAE confirms readiness to respond to Ebola developments
UAE unveils AED 1 billion space cooperation programme
First look: Etihad Rail's Fujairah Passenger Station
Dubai Media Retreat drives next phase of industry growth
