UAE Residents Can Use Bank Accounts After Visa Cancellation — But Take Note of These Rules

Losing a job and having your visa cancelled in the UAE doesn’t necessarily mean you’ll lose access to your bank account. Here’s what residents need to know about banking after visa cancellation.

In the UAE, the cancellation of a residency visa does not automatically lead to the freezing or closure of a bank account, offering relief to individuals in between jobs. This clarification comes amid rising concerns from residents facing job loss and visa expiration.

A recent case raised the question of whether a resident — whose visa is cancelled following a job loss — can continue using their bank account while searching for new employment. According to UAE Central Bank regulations, as long as the customer’s address is known or they have other active accounts with the bank, the account will not be classified as dormant.

This is outlined in Article 9(d) of the UAE Central Bank Regulation No. 29/2011, which states that an account is considered active if the customer is known to the bank or if other bank services are in use.

Furthermore, under Circular No. 1/2020 on Dormant Accounts, a bank account only becomes dormant if it has no financial or non-financial activity for three consecutive years, and there has been no communication from the customer. Routine transactions initiated by the bank, such as system-generated interest or charges, are not considered customer activity.

In practice, this means that a resident whose visa has been cancelled can continue to use their account normally, provided they stay in contact with the bank and continue making transactions or service requests.

However, once the residency status changes, the bank account may be reclassified as a non-resident account, which might carry different terms and conditions. This does not result in automatic account closure but may require updated documentation or compliance with new requirements.

It is recommended that individuals notify their bank of any change in employment or residency status, especially if they plan to remain in or return to the UAE under a new visa.

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