Siddique Pallolathil, Director of Nesto Group, recieves hi gold visa from Brigadier Mohamed Abdullah Alwan, Executive Director of the General Directorate for Residency and Foreigners Affairs, GDRFA, in Ajman. Courtesy Siddique Pallolathil
Siddique Pallolathil, Director of Nesto Group, recieves hi gold visa from Brigadier Mohamed Abdullah Alwan, Executive Director of the General Directorate for Residency and Foreigners Affairs, GDRFA, in Ajman. Courtesy Siddique Pallolathil
Siddique Pallolathil, Director of Nesto Group, recieves hi gold visa from Brigadier Mohamed Abdullah Alwan, Executive Director of the General Directorate for Residency and Foreigners Affairs, GDRFA, in Ajman. Courtesy Siddique Pallolathil
Siddique Pallolathil, Director of Nesto Group, recieves hi gold visa from Brigadier Mohamed Abdullah Alwan, Executive Director of the General Directorate for Residency and Foreigners Affairs, GDRFA, i

Government

Ajman businessman Siddique Pallolathil receives golden card visa

The Nesto Group director is the latest recipient of the UAE’s long-term residency scheme

The National

July 10, 2019

  • English
  • Arabic

An Ajman businessman is the first in the emirate to receive a golden card visa in a UAE-wide drive to honour the country’s most talented residents.

Siddique Pallolathil, director of Nesto Group, a leading retailer with scores of hypermarkets across the UAE and the rest of the Gulf region, has been selected as the latest recipient of the long-term residency initiative rolled out by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, in May.

Mr Pallolathil, from Calicut, India, was presented with his golden card by Brigadier Mohamed Abdullah Alwan, executive director of the General Directorate for Residency and Foreign Affairs, at a ceremony in Ajman.

On Tuesday, it was announced that Indian businessman Lalu Samuel was the first to receive the visa in Sharjah.

The golden card – a residency visa which is renewed every 10 years if certain criteria are met – has already been given to some of the country’s most influential executives since its launch.

The golden card affords a host of privileges, including residency visas for holders, their spouses and children, as well as the opportunity to sponsor up to three employees.

Thousands of foreign investors and residents have been identified as beneficiaries of the golden card permanent residency scheme.

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Those to receive the visa include Yusuff Ali, the Lulu Group chairman; Mohammed Rahman, chairman and managing director of Al Haramain Group, and Shamsheer Vayalil, chairman and managing director of VPS Healthcare.

Sheikh Mohammed said the current investments of the 6,800 selected investors and residents were worth an estimated Dh100 billion.

The permanent visa aims to generate foreign investment, encourage entrepreneurship and attract top engineers, scientists and students.

Brigadier Alwan said the residency scheme would hep cement the country’s position as an investment hub and give security to residents across business as well as in medical, scientific and engineering fields.

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UAE's first golden card visa holders - in pictures

Rizwan Sajan, founder and chairman of property developer Danube, was given a golden visa in 2019. At the time, he also welcomed the decision to allow mid-level managers earning Dh30,000 ($8,000) per month to apply for long-term visas. Antonie Robertson / The National
Rizwan Sajan, founder and chairman of property developer Danube, was given a golden visa in 2019. At the time, he also welcomed the decision to allow mid-level managers earning Dh30,000 ($8,000) per month to apply for long-term visas. Antonie Robertson / The National
Dr Azad Moopen, chairman and founder of Aster DM Healthcare, was also granted a 10-year residency visa. Randi Sokoloff / The National
Dr Azad Moopen, chairman and founder of Aster DM Healthcare, was also granted a 10-year residency visa. Randi Sokoloff / The National
Fragrance tycoon Mohammed Rahman (C) receives his golden card visa at Dubai's immigration service, the General Directorate of Residency and Foreigners Affairs. The businessman, who runs Al Haramain Group, was the first Bangladeshi to receive the visa. Photo: GDRFA
Fragrance tycoon Mohammed Rahman (C) receives his golden card visa at Dubai's immigration service, the General Directorate of Residency and Foreigners Affairs. The businessman, who runs Al Haramain Group, was the first Bangladeshi to receive the visa. Photo: GDRFA
Firoz Merchant, founder of Pure Gold Jewellers, said it was 'a huge honour' to be granted long-term residency in 2019. Photo: Firoz Merchant
Firoz Merchant, founder of Pure Gold Jewellers, said it was 'a huge honour' to be granted long-term residency in 2019. Photo: Firoz Merchant
MA Yusuff Ali, chairman and managing director of supermarket chain Lulu Group, pictured with Sheikh Nahyan bin Mubarak, Minister of Tolerance and Coexistence, was the first recipient of a golden card. The National
MA Yusuff Ali, chairman and managing director of supermarket chain Lulu Group, pictured with Sheikh Nahyan bin Mubarak, Minister of Tolerance and Coexistence, was the first recipient of a golden card. The National
Dr Shamsheer Vayalil, founder and chairman of VPS Healthcare, receives UAE permanent residency in summer 2019. Photo: Dr Shamsheer Vayalil
Dr Shamsheer Vayalil, founder and chairman of VPS Healthcare, receives UAE permanent residency in summer 2019. Photo: Dr Shamsheer Vayalil
Indian-Arab businessman Balvinder Sahni, owner of RSG International, which builds hotels and residential towers, was an early recipient of long-term visa. Reem Mohammed / The National
Indian-Arab businessman Balvinder Sahni, owner of RSG International, which builds hotels and residential towers, was an early recipient of long-term visa. Reem Mohammed / The National
Sharjah’s first golden card recipient was Lalu Samuel, chairman and managing director of Kingston Holdings and Chairman of Sharjah Industry Business Group. Photo: Kingston Holdings
Sharjah’s first golden card recipient was Lalu Samuel, chairman and managing director of Kingston Holdings and Chairman of Sharjah Industry Business Group. Photo: Kingston Holdings
Siddique Pallolathil, head of hypermarket chain Nesto Group, was the first recipient in Ajman to received long-term residency. Photo: Siddique Pallolathil
Siddique Pallolathil, head of hypermarket chain Nesto Group, was the first recipient in Ajman to received long-term residency. Photo: Siddique Pallolathil
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What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

UAE