Leaving Dubai - UAE Financial Liabilities
#1
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Joined: Aug 2011
Location: Doha
Posts: 9
Leaving Dubai - UAE Financial Liabilities
I have a friend who is shortly being relocating to Qatar with their Employer. They still have some financial liabilities in the UAE which includes a loan and mortgage on a property. We are trying to obtain some much needed advice on the following main points:
1. Will the Dubai Visa need to be cancelled to obtain a Qatar Visa or is there a way of keeping both visas.
2. If the Dubai Visa is cancelled will the banks be informed automatically or at what stage will they be informed (if at all).
3. Can a UAE bank account be kept open without a Dubai Visa.
Its important to note that the employer still intends to keep paying part of the salary into the UAE account to cover liabilities in the UAE and no end of service benefits will be paid at this time.
However, if the Dubai Visa is cancelled will there be a problem with the Banks in the UAE. As the current Dubai Visa has two years to run we would think that they will not ask for any documentation until the existing visa expires and by then the liabilities will have been settled in full.
The other key question is;
4. What happens with mortgages on properties in the UAE if you intend to leave the country. The question is should they keep paying the mortgage payment from the UAE bank account or should they just inform the mortgage provider they are leaving Dubai and provide standing instruction details from their bank account in Qatar.
Thanks.
1. Will the Dubai Visa need to be cancelled to obtain a Qatar Visa or is there a way of keeping both visas.
2. If the Dubai Visa is cancelled will the banks be informed automatically or at what stage will they be informed (if at all).
3. Can a UAE bank account be kept open without a Dubai Visa.
Its important to note that the employer still intends to keep paying part of the salary into the UAE account to cover liabilities in the UAE and no end of service benefits will be paid at this time.
However, if the Dubai Visa is cancelled will there be a problem with the Banks in the UAE. As the current Dubai Visa has two years to run we would think that they will not ask for any documentation until the existing visa expires and by then the liabilities will have been settled in full.
The other key question is;
4. What happens with mortgages on properties in the UAE if you intend to leave the country. The question is should they keep paying the mortgage payment from the UAE bank account or should they just inform the mortgage provider they are leaving Dubai and provide standing instruction details from their bank account in Qatar.
Thanks.
#2
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: Leaving Dubai - UAE Financial Liabilities
Bit of a give away, but good luck...