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Kuwait Launches Golden Residency Visa, Lulu Chairperson MA Yusuff Ali Becomes First Recipient

Kuwait’s First Deputy Prime Minister and Interior Minister Sheikh Fahad Yusuf Saud Al-Sabah handed over the golden visa to Yusuff Ali during a ceremony in Kuwait City. 

Kuwait First Golden Residency Visa Edited by
Kuwait Launches Golden Residency Visa, Lulu Chairperson MA Yusuff Ali Becomes First Recipient

Kuwait Launches Golden Residency Visa, Lulu Chairman MA Yusuff Ali Becomes First Recipient

Kuwait City: Kuwait has launched its new long-term residency golden visa programme, and the gulf nation has granted its maiden first-ever 15-year Golden Residency permit to Indian billionaire and chairperson of Lulu Group International, MA Yusuff Ali.

Kuwait’s First Deputy Prime Minister and Interior Minister Sheikh Fahad Yusuf Saud Al-Sabah handed over the golden visa to Yusuff Ali during a ceremony in Kuwait City. 

Read Also: How A Phone Call From MA Yusuff Ali Helped Malayalam Movies

With the issuance of the visa to the Lulu Group chief, the official rollout of Kuwait’s new long-term residency framework has began. The golden visa offers greater stability for selected categories of investors and professionals.

The visa bypasses traditional residency permits formalities including frequent renewals. With this, the gulf nation aims to  attract high-value investments, strengthen economic growth and create a more business-friendly environment.

Read Also: “New Jersey Governor Assured Support”: Lulu Group’s Yusuff Ali On US Expansion Plans

Following other oil-rich gulf nations’ footpath. Kuwait is also working to diversify its economy beyond traditional oil revenue. In a social media post, Kuwait’s interior ministry shared the news, stating the Golden Residency represents a strategic step to develop the residency system and enhance the investment environment in Kuwait.

“Attracting high-quality investments to strengthen Kuwait’s position as an attractive economic hub. A comprehensive Golden Residency system in accordance with clear regulations and standards that align with the best adopted practices,” the ministry added.

 

 

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