Wait for visa expiry before changing jobs

I am an undergraduate and have worked for a private company for the past two and half years. My visa is going to expire on 13/06/09. I do not want to renew my visa but my contract is for an unlimited period. I want to know what my options are regarding getting another job. Will I get a ban from immigration even though my visa will expire? If a ban will still be imposed on my passport then can I get it lifted by paying some fees to the immigration department? Please guide me.

I would like to advise the questioner that if he wants to leave his current job in order to join another company, he should wait until the expiry date of the visa, ie, 13/6/2009, and thus he will have completed the three-year period which the Ministry of Labour requires to be able to join another company without the need to obtain a No Objection Certificate (NOC) from the earlier sponsor.

I want to advise the questioner to submit his resignation legally after completing the period of the notice mentioned in the employment contract so as not to subject himself to a violation of the labour law.

Questions answered by advocate Mohammad Ebrahim Al Shaiba of Al Bahar Advocates and Legal Consultants.