Lulu Group Chairman Yusuf Ali M.A. has become the first Indian to receive a Saudi Residence Premium Residency Card. The Saudi government has granted foreigners permanent residency as a means of attracting investors. Under the Premium Residency Scheme, non-resident Saudi citizens are able to do business in the country without sponsorship and buy property in Makkah and Madinah.
Yusuf Ali M.A. : “We are very proud and delighted to have received the first premium residence card of Saudi Arabia. Saudi Arabia has been undergoing major changes in a number of ways. With the advent of global investor investors, the country’s economy will continue to grow.”
The project was conceived by Saudi Crown Prince Mohammed bin Salman. The Premium Residency Card is a lifelong accommodation for big investors and the best talent in various sectors.