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Indian billionaire gets Kuwait's first 15-year golden residency
The Golden Residency is a long-term residence program for eligible investors and skilled individuals
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Bhavana P - Tue, 14, Jul 2026
- 18:04 EDT
- 34
(L-R) Yousuf Ali M.A and Sheikh Fahad Yousef Saud Al-Sabah / X/ Moi_kuw
Kuwait has granted its first 15-year Golden Residency permit to Indian businessman and billionaire Yousuf Ali M.A., chairman of the Lulu Group International.
The permit was presented by First Deputy Prime Minister and Interior Minister Sheikh Fahad Yousef Saud Al-Sabah under Kuwait's newly introduced Golden Residency system. The ceremony was attended by Assistant Undersecretary for Support Security Services Fawaz Al-Roumi.
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The Ministry of Interior said the Golden Residency initiative forms part of the government's broader strategy to support the national economy, improve the investment climate and modernize Kuwait's residency framework. Officials described the program as a strategic step toward attracting quality investments and capital while reinforcing Kuwait's position as a regional economic hub in line with the country's long-term development plans.
Sheikh Fahad said the residency program reflects the nation’s vision of creating a stable and investment-friendly environment by strengthening confidence in Kuwait's legal and administrative framework. He said the initiative would contribute to sustainable economic growth by encouraging long-term investment and expanding development opportunities.
The minister added that the Interior Ministry, in coordination with the Kuwait Direct Investment Promotion Authority and the Public Authority for Civil Information, had developed an integrated Golden Residency system based on clear regulations and standards consistent with international best practices. The framework, he said, balances streamlined procedures with compliance with legal and regulatory requirements.
Sheikh Fahad also said the ministry remains committed to improving services for investors through continuous administrative reforms that reflect Kuwait's modern image and foster confidence and stability.
The ministry said awarding the inaugural 15-year Golden Residency underscores Kuwait's commitment to supporting partnerships with the private sector and enabling investors to operate in a secure and stable environment while continuing to update regulations and procedures to meet evolving economic and development priorities.
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