I have been made redundant and have not yet found a new job. My visa will expire on April 24. Will I be able to leave the country once the visa is cancelled? I am Indian with a multiple-entry UK visa. My former employer will cancel my visa when it expires and deposit my end of service gratuity cheque directly into my bank account. I intend to come back on a visit visa and look for a job. The second question is, will the local bank that l had a salary account with put a ban on my travel after they receive the final payment from my former employer? I have been depositing towards the loan every month and will make arrangements to deposit money even when I go away for a couple of weeks. AA, Abu Dhabi
There should be no problem with AA leaving the UAE and returning on an appropriate visa if his employer arranges for it to be cancelled properly. He should be aware that if the employer marks the last payment as a “final salary” his bank account will be frozen. This would not be unfrozen until he can demonstrate that he has a new job and a regular salary and thus is able to service the loan. The reason for freezing the account is to ensure that loan repayments can be met and the borrower does not default. Provided that the loan repayments are met in full, the bank is unlikely to take further action. But if a loan is linked to a salary account, borrowers should be aware that the loan agreement usually includes a clause that states that the loan must be repaid in full if the salary is not paid to this account. AA should get a couple of months’ leeway if payments are being made but should also check his loan agreement.
Keren Bobker is an independent financial adviser with Holborn Assets in Dubai, with over 20 years of experience. Contact her at keren@holbornassets.com. Follow her on Twitter at @FinancialUAE
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek appropriate independent legal advice
