"I would like to express my warm gratitude to the government of United Arab Emirates for introducing permanent residence initiative. Permanent residential permit will boost more confidence and loyalty in the investors residing in UAE," Merchant said in a statement.

"According to me residential permit is a lifetime permit for residents to respect the law and work with ethics. UAE is the university of the universe and one of the great and most beautiful countries in the world. UAE provides world class safety, security, education and great heath care facilities to its residents to live a valuable life. Over 250 nationalities reside in UAE with unity and united as a family trying to fulfill their dreams and live a better future. I am very grateful and thankful to the Government of United Arab Emirates for granting me the lifetime permit to reside in the UAE with my family," the statement added.

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