(Image source from: Gulf News)

The two Indian businessmen Vasu Shroff and Khushi Khatwani on Tuesday were issued a 10-year-visa of the United Arab Emirates to become the first in the community to be issued a golden card visa.

The visa is granted under the Gulf nation’s long-term residency scheme to woo investors and talented students, according to a media report.

Rolling out in January, the 10-year visa scheme was granted to some Arab scientists and experts in the medical field till yet.

Vasu Shroff and Khusi Khatwani got their visas stamped on their passports from the General Directorate of Residency and Foreign Affairs (GDRFA). Shroff is the chairman of the Regal Group of Companies and Khushi Khatwani is the managing director of the Khushi Group of Companies and Al Nisr Cinema Film.

"I got a call from the office (GDRFA), inviting me to visit him. I went there at 1 pm and within five minutes they issued the 10-year visa for me," Shroff was quoted by the Gulf News.

"It is really a very good initiative for the investors who bring up the economy. This will encourage more investors to make investments here," he said.

Shroff, a textile magnate and recipient of Pravasi Bharatiya Samman, said people from around the world are waiting for The Expo 2020 and with such initiatives by the government, it will prove to be one of the best countries in the world.

He said more Indian businessmen were expected to get the 10-year-residency, considered as a first step towards obtaining permanent residency.

Khatwani, who is well-known for his entrepreneurship in the field of jewelry and movies, said the move gives a sense of belonging to the country. "You feel relaxed and it becomes hassle-free. This will offer more convenience and comfort to investors," he said.

Consul General of India in Dubai Vipul congratulating the duo said: "I am very happy about this. It is a great step from the government of the 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," he said.

The UAE on Tuesday launched a permanent residency scheme, the "Golden Card", to attract investors and "exceptional talents".

The card holders and their families will own unprecedented benefits while creating an attractive environment for business and growth.

The new initiative will pull in greater foreign investment and stimulate the local economy, making it more efficient and attractive for investors.

By Sowmya Sangam