India, July 10 -- Dubai-based private company Rayad Group on Wednesday issued an apology and took "full responsibility" for disseminating "incorrect" information in the media aboutthe "new United Arab Emirates (UAE) Golden Visa rules".

Reports quoting the group had suggested that the UAE government would grant a lifetime "golden visa" for a one-time payment of around Rs.23.30 lakhs. On Wednesday, the UAE's Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) dismissed such reports.

"We apologise unreservedly for the public confusion caused by recent reports and commentary, and we take full responsibility for ensuring future communications are clear, accurate, and consistent with the UAE's stringent regulatory fra...