Dubai allows Indian expats with expired residence visa to return

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Dubai, Aug 24 | In a move that brings relief to thousands of Indian expats, Dubai announced it will allow them to come back even if their residence visas have expired.

Also allowed to return were residence visa holders from Pakistan, Nepal, Nigeria, Sri Lanka, and Uganda. Anyone holding an expired Dubai residence visa now has time to return until November 10.

A large number of Indian expats had flown back to the country earlier this year when the second wave of Covid-19 was rampant, and were then unable to return to the UAE as the flights were suspended.

FlyDubai, the low-cost carrier operating from the emirates, posted on its website: “The GDRFA has extended the expiry date of Dubai-issued UAE resident visas for nationals of India, Nepal, Nigeria, Pakistan, Sri Lanka and Uganda who are stranded outside of the UAE.

“This applies to Dubai-issued UAE resident visas which have expired or will expire between April 20, 2021 and November 9, 2021 inclusive.”

However, the airline said that the expiry will not be extended for holders of Dubai-issued visas who have stayed outside of the UAE for more than six months, if they left before October 20, 2020.

It was unclear at the moment if the same offer applied to residence visas issued by Abu Dhabi, Sharjah, or other emirates.

The move was later confirmed by the General Directorate of Residency and Foreigners Affairs (GDRFA) to Gulf News.

In a statement, the GDRFA said: “The procedure will be done according to certain conditions and procedures including that the beneficiaries must be outside the country since the expiry date of residency between April 20, 2021 and November 8, 2021. GDRFA-Dubai will extend the residency visas until November 9.”

Once the expats return with expired visa enter the country, the system will give them a 30-day grace period from the date of entry to change their status and renew their visas.

Source: IANS

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Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.

bhaskarlive market closing

The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.

In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.

Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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