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Acquiring a business

Acquiring an existing business in Dubai requires that both the current future owners agree on a set of terms and conditions. Since existing companies often contain a large number of assets and debts, the contract between seller and buyer usually warrants legal consultation.

Once the final contract has been agreed upon and a payment plan set into motion, the act of transferring ownership must be performed through an amendment in the trade licence at the Department of Economic Development. If the business was foreign-owned, a new Appointment of Local Services Agent contract must be signed with the local sponsor and notarised at the Dubai Courts. The fee for amending a trade licence for new ownership is Dhs.500, but other fees may be applicable depending on the circumstances.

Acquiring and opening a local or international franchise has become quite popular in the region, but the process can be extremely complex depending on where the franchise is from. The best place to start the process of opening an international or local franchise is the Franchising Middle East Exhibition held each year at the convention centre.
 
Dubai’s ever-expanding market and its reputation as a financial hub for the region make it a prime location for private equity. There are several opportunities to invest in successful businesses in the region, and most companies looking for investors start their search at the Dubai International Financial Centre.

 

 
Published Date : 20/02/2013Back

RELATED GOVERNMENT ENTITIES

Department of Economic Development
Dubai Chamber of Commerce and Industry
Dubai Real Estate Regulatory Agency
Dubai Courts
Dubai Airport Free Zone
Dubai Healthcare City
Dubai International Financial Centre
Dubai Internet City
Dubai Media City
Dubai Multi Commodities Centre

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Dubai International Capital
AMEinfo
Dubai Explorer
Gulf News

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