Thousands of foreign investors and residents have been identified for a "golden card" permanent residency scheme, Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai announced in May.

Top business leaders from across the Emirates said the move will give investors greater confidence to settle in the country. They also believe it will create greater demand for buying property, boosting a sluggish property market in Dubai and Abu Dhabi.

On Tuesday the General Directorate of Residency and Foreigners Affairs announced that 400 individuals had received the golden card so far and that executives with a salary of Dh30,000 or more could apply for the visa. 

Host Mustafa Alrawi, Assistant Editor in Chief, and Kelsey Warner, Assistant Business Editor, discuss the potential impact that the 'Golden Card' could bring.

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