ARABIAN TIMES NEWS NETWORK
Kuwait has taken a significant step toward strengthening its investment landscape by granting its first-ever 15-year Golden Residency to Indian billionaire Yusuff Ali M.A., Chairman of Lulu Group International. The move marks the official implementation of the country’s newly introduced long-term residency programme, designed to attract high-value foreign investors and reinforce Kuwait’s position as a premier regional business and investment hub.
The Golden Residency was presented by First Deputy Prime Minister and Minister of Interior Sheikh Fahad Yousef Saud Al Sabah, who described the initiative as a strategic milestone in Kuwait’s economic transformation. He emphasized that the programme reflects the government’s determination to create an attractive and stable environment for international investors while encouraging long-term economic partnerships.
According to Sheikh Fahad, the Golden Residency will provide greater confidence to investors by offering long-term residency security, enabling businesses to plan and expand their operations with stability. He noted that the initiative forms part of Kuwait’s broader vision to diversify its economy, attract quality investments, and stimulate sustainable economic growth beyond the oil sector.
He further affirmed that the Kuwaiti government will continue reviewing and modernizing its laws, regulations, and administrative procedures to ensure they remain aligned with the changing needs of the global economy. Such reforms, he said, are essential for enhancing Kuwait’s competitiveness and creating a more efficient and investor-friendly business environment.
Kuwait officially launched the Golden Residency programme on June 15, allowing eligible foreign investors and their immediate family members to obtain residency permits valid for up to 15 years. The programme also extends eligibility to accredited senior executives and approved partners associated with investment entities operating in the country.
The selection of Yusuff Ali as the first recipient carries considerable significance. Through Lulu Group International, he has built one of the Middle East’s largest retail and business conglomerates, with a strong presence across the Gulf region, including Kuwait. His investments have generated employment opportunities, strengthened supply chains, and contributed substantially to regional economic development.
The introduction of the Golden Residency demonstrates Kuwait’s commitment to attracting internationally respected entrepreneurs and business leaders who can contribute to innovation, investment, and job creation. By offering long-term residency to qualified investors, the country aims to enhance investor confidence, encourage fresh capital inflows, and position itself as a preferred destination for global businesses seeking opportunities in the Gulf. With this landmark initiative, Kuwait signals its readiness to compete with other regional economies by offering a stable, progressive, and investment-friendly ecosystem that supports sustainable growth and long-term prosperity.
