I was recently terminated from the company where I worked since 2013 due to Covid-19 related reasons. I agreed to this after a conversation with management and signed the termination letter. I served my one-month notice period, which ended on August 30. I am searching for a new job but it is hard to find one at this time. I have asked my HR department not to cancel my visa until December or until I find a new job. My current visa is valid until October 2022 but they are not willing to help.
Is there any UAE law about this that I can show to the company to get a visa extension? I have my family in the UAE as dependents. The HR department is in a rush to cancel my visa before August 30. SR, Abu Dhabi
The obligations of the employer depend on how they are regulated as there are variations between those governed by free zones and the Ministry of Human Resources and Emiratisation.
As stated in Federal Law No. 8 of 1980, generally referred to as the UAE Labour Law, and as stated in Article 3: “The provisions hereof shall not apply to the following categories: a) Employees and workers of the Federal Government and the governmental departments in the Emirates, members of the State, the employees and workers in public entities and institution, whether Federal or local, and employees and workers appointed for governmental, federal and local projects.”
That said, most government departments largely follow the provision of the law and in some situations, employees have additional benefits.
Although the visa may show an end date of October 2022, it is invalidated upon cancellation when employment ends.
In this situation, notice has been given so the company does not have to extend the visa, although there have been government statements encouraging employers to allow people to remain on a company visa for a period of time after their employment ends to allow them more time to find a new job. Not everyone is physically able to return to their home country at this time.
If no extension is provided, SR has a 30-day grace period after the cancellation of his visa and by this date, he needs to exit the country, or apply for a paid visit visa both for himself and his family. His dependents’ visas must be cancelled before his, so their grace period will end sooner. Note that if SR and his family overstay without obtaining new visas, they will each be subject to penalties of Dh125 for the first day and Dh25 for each subsequent day.
I worked in Riyadh, Saudi Arabia, from 1992 to 1997. Unfortunately, I was deported because I broke the law. My partner and I would like to visit the UAE but we are unsure if I can enter the country because of my past. How I can find out if I can visit the UAE? SC, Australia
Due to being deported, SC will not be able to visit Saudi Arabia again but whether she can visit the UAE is a grey area. The immigration systems of countries in the GCC are separate, although some information is shared in criminal cases, but deportation or a legal issue in one GCC member country does not necessarily mean a blanket ban.
Deportation or a legal issue in one GCC member country does not necessarily mean a blanket ban
Information is shared for security reasons. In most cases, across all six GCC member countries, deportation is a permanent ban from entering a country unless it is specifically cancelled by the authorities following an application.
In order to find out if she is able to enter the UAE, SC will need to contact the immigration department in the emirate she wishes to enter as the relevant division of the General Directorate of Residency and Foreigner Affairs (GDRFA), which is part of the Department of Interiors, oversees the entry and exit of visitors to the UAE.
She will need to provide her passport details, both past and current, for this to be checked in the government systems. Each emirate has its own GDRFA but on the assumption that she plans to visit Dubai, the only emirate that is currently permitting tourists to enter, the contact details from outside the UAE are: +971 4 313 9999 or +971 4 501 1111. There is also an email address for enquiries: amer@dnrd.ae.
Keren Bobker is an independent financial adviser and senior partner with Holborn Assets in Dubai, with more than 25 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
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
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