Am working in my company now 3 years last November...

We would like to inform you that referring to the UAE Labor Law which governing the contractual relationship between the worker and the employer and regarding the termination of work,
First, if you resign with the notice period and before the expiry of the contract period as described by law you can leave work, but in order to transfer sponsorship you shall cancel the visa and who has the right to cancel it is the employer, so it must be settled with him for cancellation and for the possibility to change the employer
After obtaining the approval of the new sponsor to transfer his sponsorship, you shall not leave the work and in accordance with Article (116) of the Labor Law, which state that:
Where a contract is revoked by the worker for reasons other than those stipulated in Article (121), he shall be required to compensate the employer for any damage the latter sustains as a result, provided that the amount of compensation shall not exceed half a month wage for three months or for the remaining period of the contract, whichever is shorter, unless otherwise stipulated in the contract.