The UAE will next month begin its first residency visa amnesty for six years, to allow people with expired documentation to secure their status or leave the country without being fined.
The government initiative will provide a two-month grace period for those with lapsed residency visas.
The scheme will be overseen by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), with more details expected in the coming weeks.
“The Federal Authority for Identity, Citizenship, Customs and Port Security aims to provide violators with a new opportunity to regularise their status in accordance with the law, as a gesture that reflects the values of compassion and tolerance upon which the UAE is built,” the ICP said.
When will the amnesty begin?
Authorities confirmed on Thursday that the grace period will be in effect from September 1.
It is due to run until November 1, although a previous nationwide initiative that was due to run for three months was later extended by several weeks.
The ICP said that during the amnesty "violators can regularise their status or leave the country without incurring fines".
The initiative in 2018 led to long queues at immigration centres across the Emirates as people looked to resolve their residency status.
Why is it being introduced?
Such amnesties provide a reprieve for people without valid documentation who may be reluctant to come forward due to concerns about potential fines or jail sentences.
The moves allow the government to take steps to ensure people are living in the Emirates legally, a key consideration amid a population boom.
It is also an opportunity for many to step out of the shadows and grasp the chance of a fresh start – whether in the UAE or back in their home country.
Who will it help?
There are several reasons why people may try to remain in the country without valid documentation.
Although some may be seeking to evade detection, others will have lost jobs and businesses or split from a spouse, leaving them without a sponsor.
A community leader in the UAE welcomed the amnesty and set out some of the reasons why foreign citizens may end up staying without a residency visa.
“It is a big relief for so many. There are people who came here searching for jobs and they overstayed," said Ishtiyak Raziq, former president of Sahana, a Sri Lankan welfare association.
"There are also people duped by agents who promised higher paying jobs and they end up with nothing and they overstay.
“There are people who left Sri Lanka due to the financial crisis and they overstayed as they are unable to pay the fines. And there are people with health issues without insurance and the fines are piling up. It will be good for all of them to go back and start afresh.”
Mr Raziq said the announcement offered a reprieve to people who struggled to find employment after the Covid-19 pandemic.
“What the government of the UAE has decided is timely and we are grateful as expatriates that they can go back to their home country,” he added.
Previous amnesties held in 2007, 2013 and 2018 led hundreds of thousands of people to come forward for help.
The large turnout for a Dubai government event in February 2023 offering advice to people who overstayed highlighted how pressing a concern residency status remains.
What are the visa rules?
Most residents living or working in the UAE have a two or three-year visa in their passport. That has since been replaced with the Emirates ID.
In April 2022, visa changes were introduced by the UAE Cabinet and more categories were added. This included an expansion of golden visas and the introduction of green visas, with several of the new categories aimed at self-employed people and business owners.
The new rules came into effect in September that year.
What are the overstay fines?
The financial penalty has been standardised at Dh50 ($13.60) a day for tourists or residents who overstay their visas, following updates by the ICP in October 2022.
Residency visa holders are given six months to leave the country or change their status by finding a job once their visa expires or is cancelled.
The amnesty will support those who remain in the country beyond the existing six-month grace period.
Where to get advice
Information and guidance is available around the clock through Amer centres, which offer visa and immigration services, or by calling 800 5111.
People in Dubai can also use a video conference service on the General Directorate of Residency and Foreigners Affairs website and have their queries addressed by an official.
For any inquiry regarding visa issuance, types and validity, people can call the ICP free of charge on 600 522 222 or contact the authority through its feedback platform online.
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.”
Gender pay parity on track in the UAE
The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.
"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."
Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.
"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.
As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
UAE currency: the story behind the money in your pockets
The specs: 2018 Jaguar E-Pace First Edition
Price, base / as tested: Dh186,480 / Dh252,735
Engine: 2.0-litre four-cylinder
Power: 246hp @ 5,500rpm
Torque: 365Nm @ 1,200rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.7L / 100km
COMPANY%20PROFILE
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Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
COMPANY%20PROFILE
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
The years Ramadan fell in May
Day 4, Abu Dhabi Test: At a glance
Moment of the day Not much was expected – on Sunday or ever – of Hasan Ali as a batsman. And yet he lit up the late overs of the Pakistan innings with a happy cameo of 29 from 25 balls. The highlight was when he launched a six right on top of the netting above the Pakistan players’ viewing area. He was out next ball.
Stat of the day – 1,358 There were 1,358 days between Haris Sohail’s previous first-class match and his Test debut for Pakistan. The lack of practice in the multi-day format did not show, though, as the left-hander made an assured half-century to guide his side through a potentially damaging collapse.
The verdict As is the fashion of Test matches in this country, the draw feels like a dead-cert, before a clatter of wickets on the fourth afternoon puts either side on red alert. With Yasir Shah finding prodigious turn now, Pakistan will be confident of bowling Sri Lanka out. Whether they have enough time to do so and chase the runs required remains to be seen.
MATCH INFO
Uefa Champions League, Group C
Liverpool v Red Star Belgrade
Anfield, Liverpool
Wednesday, 11pm (UAE)
Generational responses to the pandemic
Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:
Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.
Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.
Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
BUNDESLIGA FIXTURES
Friday (All UAE kick-off times)
Borussia Dortmund v Eintracht Frankfurt (11.30pm)
Saturday
Union Berlin v Bayer Leverkusen (6.30pm)
FA Augsburg v SC Freiburg (6.30pm)
RB Leipzig v Werder Bremen (6.30pm)
SC Paderborn v Hertha Berlin (6.30pm)
Hoffenheim v Wolfsburg (6.30pm)
Fortuna Dusseldorf v Borussia Monchengladbach (9.30pm)
Sunday
Cologne v Bayern Munich (6.30pm)
Mainz v FC Schalke (9pm)
At Everton Appearances: 77; Goals: 17
At Manchester United Appearances: 559; Goals: 253
