The country said it would aim the scheme at investors and “exceptional” doctors, engineers, scientists and artists.
The first batch of 6,800 people, who collectively have AED100bn (£21.5bn, $27.2bn, €24.4bn) worth of investments, have already been identified and will be granted the “golden card”.
Shaikh Mohammad Bin Rashid Al Maktoum, vice-president and Prime Minister of the UAE and ruler of Dubai, said in a tweet: “The permanent residency ‘golden card’ will be granted to exceptional talents and everyone who positively contributes to the success story of the UAE.
“We want them to be permanent partners in our journey. Residents are an indispensable part of our country.”
The announcement comes after the UAE said last year that it would grant five or 10-year residency visas to investors, entrepreneurs, specialists in the medical, scientific, research and technical fields, and “outstanding” students.
It was done to “facilitate business and create an attractive and encouraging investment environment” in the country.