UAE New Visa Rule abolishes mandatory bank guarantee for labor recruitment
As part of Mercans’ efforts to provide regular and efficient updates on the immigration rules and to keep all our Clients abreast of the UAE government changes in laws and policies, we’d like to inform about one of the most recent UAE Cabinet’s announcements: among the latest series of positive changes in UAE visa rules that were announced recently, and that will easy the immigration procedures when it comes to employee outsourcing services, the UAE authorities declared that the abolishment of mandatory bank guarantees required for labor recruitment will be approved soon.
The current bank guarantees will be replaced with a low-cost insurance system which will be priced at only AED 60 per annum for each employee, against the previously required AED 3,000 deposit.
We evaluate this as good news in these economic times, with measures as these that will help the increase of businesses for our existing and prospective Clients in the United Arab Emirates.
Mercans, as a leading HR Advisory and business process outsourcing partner, will take care about all the local rules amendments in all the countries where we operate, in order to guarantee our Clients to stay on top of the competition.