You can now get permanent residency in Dubai (for a price)

• Investors and entrepreneurs can now be granted permanent residency in the UAE
• Those who make the cut will be given a special gold permanent residency ID card
• The new visa system is intended to generate foreign investment and attract prosperous UAE residents
• The first batch of gold card owners will be handed out for a combined total of AED100 billion investment

You can now gain permanent residency - along with a shiny gold ID card - here in Dubai.

The new initiative was unveiled by His Highness Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The new permanent visa is aimed at those who bring significant investment to the country, especially that which brings top-quality jobs to the region such as engineers, scientists and technologists. 

6,800 of these cards will be handed out to investors - the combined value of that total investment will be AED100 billion. 

“We launched today a permanent resident system named 'Gold Card' in the UAE. It is a permanent residency for investors and for exceptional workers in the fields of health, engineering, science and art," Sheikh Mohammed said on Twitter.

"Gold Card permanent residence will be awarded to exceptional and talented individuals and to whoever contributes positively to the UAE’s success story. We want those people to be permanent partners in our journey. All the residents of the UAE are our brothers and part of our large family."