Shamlal Ahmad MP of Malabar Gold gets 10-year UAE visa for him and his family Image Credit: Supplied

Dubai: Indian jewellery magnate in Dubai Shamlal Ahmad, MP of Malabar Gold, has got a 10-year UAE visa.

The billionaire businessman who is the son of M.P. Ahammed, the founder of Malabar Gold, received the coveted Gold Visa on Tuesday at the office of Major General Mohammad Al Marri, director-general of GDRFA.

Speaking to Gulf News, Shamlal (38) said the golden visas were also issued to his wife Ashni (37) and three children, Nazah Zubaida (14), Ishael Aysha (10), Simrah Fathima (8).

“I am very grateful to the UAE government for recognising the efforts of businessmen. This is definitely going to boost the investors into the country. We have seen tremendous success in our jewellery line here in the UAE. Whether it is the ease of running business in the country or the amazing entrepreneurial spirit of the UAE rulers, it has been a great ride for me and my family,” he said.

In a press conference to explain the new Gold Card visa process, which started on May 21 this year, the GDRFA announced a total of 400 golden visas have been handed out in the UAE so far with a target of 6,800 by the end of the year.

190524 craftmen
Craftsmen design jewellery at Al Barakah Gold Factory, a unit of Malabar Gold, in Sharjah. What jewellers have been doing over the last year is make more of the diamond-studded jewellery here rather than rely on imports alone Image Credit: Ahmed Ramzan/ Gulf News

The Gold visa, given for a duration of 10 years, is renewable. There are medical insurance and other procedures that need to be done in between but it comes without any extra conditions.

Since May 22 other businessmen have received their new stamped visas. Vasu Shroff, chairman- Regal Group of Companies, Khushi Khatwani, managing director, Khushi Group of companies & Al Nisr Cinema Film, Rizwan Sajan, chairman of Danube, Lulu chairman M.A. Yousuf Ali being some of them. Others such as Ram Buxani, Dr. Azad Moopen are also on the coveted list. Yesterday Dhananjay Datar, chairman and managing director of Al Adil Trading, which trades in Indian spices received his long-term visa.