Bahrain starts issuing Golden Visa for investors, Lulu Chairman, MD Yusuff Ali first recipient
The businessman was received by the Crown Prince and Prime Minister of Bahrain
Manama: Following a Bahrain Cabinet announcement last week to issue long-term Golden Residency Visas to selected foreign investors, Yusuf Ali MA, Chairman of Lulu Group became the first recipient under the scheme on Sunday.
The Golden Residency Visa is part of the country's economic recovery plan to attract talents and boost its economy. Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister recieved the businessman, the Bahrain News Agency reported on Sunday.
The Crown Prince welcomed Mr Ali and noted the retail sector's contribution to the Kingdom of Bahrain's economic development. He reiterated that enhancing the Kingdom's economic competitiveness and sustainability will benefit Bahrain Economic Vision 2030 and contribute to the goals of comprehensive development, led by King Hamad bin Isa Al Khalifa being met.
"Obviously a very proud and humbling moment in my life to receive this honour today. I sincerely thank HM King Hamad bin Eisa Al Khalifa, HRH Salman bin Hamad Al-Khalifa, Crown Prince and Prime Minister of Bahrain and the Government of Bahrain,” Yusuff Ali said, after receiving his golden visa number 001.
“I am sure this new permanent residency initiative will further boost Bahrain's image as one of the key investment and business hubs of the region as well as attract and retain new investors here,” he added.