Two Indian Dubai-based businessmen were issued the new 10-year United Arab Emirates (UAE) resident visas which were rolled out in January, the media reported on Wednesday.
Vasu Shroff, chairman of the Regal Group of Companies, and Khushi Khatwani, managing director of the Khushi Group of Companies & Al Nisr Cinema Film, are the first two Indians to benefit from the long-term visa scheme, reports Gulf News.
The 10-year visa scheme was rolled out in January and some Arab scientists and experts in the medical field were the first ones to receive it.
"It is really a very good initiative for the investors who bring up the economy. This will encourage more investors to make investments here," Shroff told the Gulf News on Tuesday evening after receiving the visa.
The textile magnate, who was a recipient of the Pravasi Bharatiya Samman, India's highest award for non-resident Indians, said more Indian business leaders were expected to get the 10 year-residency, which is considered the first steps towards obtaining permanent residency.
Khatwani, who is known for his decades-old businesses in the fields of movies and jewellery, said the move gives a sense of more belonging to the country.
Consul General of India in Dubai Vipul welcomed the move and said: "It is a great step from the government of UAE. People who had to renew visas every two or three years are getting a longer duration. That will make life easy for prominent Indian businessmen and investors here."
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)