When leaving the UAE for good, it is important to ensure that all financial matters are settled, including closing your salary account. As per Article 53 of the Federal Decree Law No 33 of 2021 on the Regulation of Employment Relations, an employer is required to pay the end-of-service benefits of an employee within 14 days of their last working day. Therefore, it is essential to receive your full and final settlement before leaving the country.
It is important to note that leaving the country after the cancellation of your residency visa should not directly result in the freezing of your salary account. However, it is advised to close the bank account(s) that you hold in the UAE if you have no intentions of returning to the country on residency. This can be done in accordance with the UAE Central Bank regulations, which allow individuals to close their accounts without penalties if the account opening date goes back more than one year.
Furthermore, your bank account in the UAE may be listed as a ‘dormant account’ if it is not operational for three years. According to the UAE Dormant Bank Account Regulations, a savings or current account that has had no transactions or communication from the customer for three years may be classified as dormant. In such cases, it is important to follow up with your previous employer to ensure that your end-of-service benefits are credited to your bank account at the earliest.
Once the end-of-service benefits are deposited into your bank account and withdrawn, you may proceed to close the account and obtain a bank account closure letter from the bank. This will ensure that all financial matters are properly settled before leaving the UAE for good. It is always advisable to seek legal advice from a qualified professional to ensure compliance with all applicable laws and regulations in the UAE.
In summary, it is important to follow the necessary steps to close your salary account and settle all financial matters before leaving the UAE for good. By ensuring that your end-of-service benefits are paid within the stipulated timeframe and closing your bank account in accordance with the regulations, you can avoid any potential issues with freezing or dormancy of your account. Seek legal advice if needed to ensure a smooth transition out of the country.
