Which of the following statements are correct regarding  Golden Card’ Permanent Residency Scheme launched by United Arab Emirates (UAE)?

1. Under this scheme, students are permitted residency visas for five years.

2. There is provision of residency Visa for entrepreneurs and talented professionals such as doctors, researchers and innovators for 10 years.

Code:

About scheme:

The Golden Card offers unprecedented benefits to the cardholders and their families while creating an attractive environment for business and growth.
The new initiative will attract greater foreign investment and stimulate the local economy, making it more efficient and attractive for investors. It will also increase the UAE's competitiveness and reaffirms the country's position as a global incubator.
The benefits of the permanent residency also include the spouse and children of the cardholder to ensure cohesive social ties.
Expatriates in the UAE are usually given limited duration residence permits under a sponsorship system.
The "Golden Card" visa categories include general investors who will be granted a 10-year visa, real estate investors, who can get a visa for five years, along with entrepreneurs and talented professionals such as doctors, researchers and innovators 10 years.
The fifth category — outstanding students — will also be permitted residency visas for five years. All categories of visas can be renewed upon expiry.
The Indian expatriate community is reportedly the largest ethnic community in the UAE, constituting roughly about 30 per cent of the country's population of around nine million.

By: Vishal