UAE's new visa system to come into effect on October 15 | ZAWYA MENA Edition

UAE's new visa system to come into effect on October 15 | ZAWYA MENA Edition:

Private companies in the UAE will soon be able to opt for a Dh60 insurance scheme to recruit workers instead of depositing Dh3,000 per worker as bank guarantee as is the practice now. The Ministry of Human Resources and Emiratisation will start implementing the low-cost insurance scheme from mid-October, it was announced earlier this month.

The Ministry of Human Resources and Emiratisation (MoHRE) has said that the issuance of employee insurance will begin on October 15.

The ministry said it would also begin disbursing the bank guarantees that is worth Dh14 billion when companies opt for the insurance scheme. The reimbursement will not apply to companies that have committed salary-related violations six months before renewing work permits.