Is Abu Dhabi worker on six-month contract free to move company after expiry?

I have signed a contract stating that I will be working for a company for a period of six months. My question is, am I allowed to transfer to another company after I finish my six-month contract, provided that my employer doesn't extend or renew my contract? MA, Abu Dhabi.

It is unusual to see a contract of just six months duration as most limited term contracts are for a period of two or three years. While it is usual to receive a ban if leaving a job within one or two years, depending on salary and education level, if the contract was not renewed by the employer the individual would not be leaving of their own accord and so a ban should not apply. Effectively this would be a termination of a contact, much like a redundancy, so MA should be free to take up another job without consequences.

Keren Bobker is an independent financial adviser with Holborn Assets in Dubai, with over 20 years’ 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.

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What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.