UAE cabinet updates 2018

Major Positive update from the UAE government overnight.

Major Positive update from the UAE government overnight:

Mohammed bin Rashid: The Cabinet will follow up on the package of stimulus and economic, legislative and procedural facilities in the country to reach the best business environment globally.

The Council of Ministers announces the abolition of mandatory bank guarantee for the recruitment of workers and replacing them with a low-cost insurance system and the return of 14 billion dirhams bank guarantees for the business sector

The Council of Ministers approves a system for the insurance of wages and entitlements for the employment of enterprises and auxiliary workers as an alternative to the current bank guarantee.

Key Points:

  1. Cancellation of 3000 AED bank guarantees on visas – around 14 billion of refunds of bank guarantee will go back to companies
  2. Replaced by a 60 AED per visa as bank guarantee and insurance for up to 20,000 AED
  3. Possibility for Jobseekers to stay in the UAE for up to 6 months to look for work
  4. People on transit through a UAE airport can enter UAE for 48 hrs for no charge
  5. Students after graduation will get a two year visa to search for a job
  6. Anyone in the UAE on an expired visit visa can change status without fines
  7. Anyone overstayed or invalid can leave the UAE and are welcome back on visit visa without applying a permanent ban

UAE cabinet decisions

UAE cabinet updates 2018

 

No charge for transit tourists

No charge for transit tourists

 

New system for workers guarantees in the UAE

New system for workers guarantees in the uae

 

Adjusting visa status in the uae without having to leave and re-enter the country

Adjusting visa status in the uae without having to leave