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The First Indian To Receive Saudi's Green Card


Author: Sanchita Sairang-Kshatriya


2020-03-06 19:02





 

Abu Dhabi-based Indian retail tycoon M A Yusuff Ali (Age - 64 years) the chairman of the LuLu Group becomes the first Indian to get Saudi Arabia's premium residency.  


LuLu Group International is an Indian-owned multinational aggregate organization that contains a chain of hypermarkets and local companies, headquartered in Abu Dhabi, United Arab Emirates. 


The permit allows expatriates to live, work and own business and property in the Kingdom without the need for a sponsor, according to a statement from the LuLu group.


Vision 2030 

The introduction of the Premium Residency comes as a part of Saudi Arabia’s Vision 2030 reform plan, which was announced by Crown Prince Mohammed bin Salman to boost the Saudi economy.  


In a statement, Yusuff Ali said, 

“Obviously a very proud and humbling moment in my life. This is a great honor not only for me but for my entire Indian expat community and I sincerely thank HM King Salman, HRH Crown Prince Mohamed bin Salman and the government of Saudi Arabia.”

“I am sure this new permanent residency initiative will boost Saudi Arabia’s image as one of the key investment and business hubs of the region as well as attract and retain new investors here.”


In a video posted on Twitter by the Saudi government's Premium Residency Centre, showed the reaction of Yussuf Ali after receiving the Premium Residency. 


This initiative is targeting important investors and celebrities from various areas, including sports, arts & culture, who have played a defining performance in the nation-building method.

The Lulu Group owns and manages more than 35 hypermarkets and markets in Saudi Arabia, including ARAMCO Commissaries and National Guards super stores.


Who is M A Yusuff Ali?


Yusuff Ali, coming from Thrissur in Kerala had gone to the UAE as a young guy in the 1970s, to join his uncle MK Abdullah, the originator of the LuLu Group. He then ventured into import and wholesale distribution of the group and started the LuLu Hypermarket.

Currently, the Middle East retail king presides over $8.4 billion (revenue) LuLu Group, with 178  stores in the Gulf region and other geographies. He is also known for his charitable activities. 


Here is what you need for Premium Residency status:

Saudi Riyals

1.  Valid passport

2. 21 years of age or more

3. Have a valid Saudi Iqama (Residency Permit) 

4. Proven Clean Criminal Record

5. Free of Contagious Disorders (Medical Report)

6. Enough (ample) Finances 

7. Pay Annual Fees


For Resident Expats you will be able to:  

1. Own and operate a business

2. Invest money in organizations 

3. Receive and transfer jobs easily

4. Get residency/visit visas for family members

5. Enter and stay in Saudi externally a finance’s License

6. Choose national operators

7. Personal business 

8. Utilize all bank facilities easily

9. Get treatment in hospitals 






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