# Buying a business



## desert mouse (Jan 18, 2013)

Hi all, I've been offered a business to buy in dubai.
I am currently in the uk although have been to dubai many times and want to move there.
What is the procedure regarding buying a business in dubai , what should i be wary of. what about visa application.?
By the way the company is 5 years old llc non free zone with local partner.
Any comments would be grateful .


----------



## rsinner (Feb 3, 2009)

Do a proper due diligence? go over the books, hire a lawyer to look at the papers. If you are going to spend money on buying it, make sure that the business exists and does what the current owners claim it does, and what prospects the business has


----------



## desert mouse (Jan 18, 2013)

Thanks for the info.

What about visa, do I qualify as a bus owner?
How long will the visa be for and do I need someone to sponsor me for one ?


----------



## saraswat (Apr 28, 2012)

Yes you would qualify for a visa.. There are thresholds of investment for different types and sizes of business so you might want to check on which one applies to your prospective business. But yeah you would have an investor visa with 49% stake and the local partner/sponsor having a 51% stake....


----------



## Guest (Jan 21, 2013)

Asking on a forum like that about buying a business. I am amazed. 

Get a lawyer to go over all papers, get a corporate finance guy to value the company, get a marketing guy to do marketing research for you and many other things.


----------



## rsinner (Feb 3, 2009)

nathanalgren said:


> Asking on a forum like that about buying a business. I am amazed.
> 
> Get a lawyer to go over all papers, get a corporate finance guy to value the company, get a marketing guy to do marketing research for you and many other things.


I agree.
Though depends on what the business is worth. I work in M&A and I was a bit taken aback by the question though !


----------



## Mr Rossi (May 16, 2009)

Maybe he's buying into a someone's local restaurant rather than an aggressive takeover of Emaar.


----------



## saraswat (Apr 28, 2012)

^This^.. Although nowadays the term SME's pretty much precludes all small business's .. mom and pop stores/e-commerce/sole proprietorship are none the less still classified as a 'business' .. wouldn't need teams of experts pouring over the details... having said that.. I do agree the OP needs to confer with a lawyer/legal expert before making any decisions...


----------



## rsinner (Feb 3, 2009)

saraswat said:


> ^This^.. Although nowadays the term SME's pretty much precludes all small business's .. mom and pop stores/e-commerce/sole proprietorship are none the less still classified as a 'business' .. wouldn't need teams of experts pouring over the details... having said that.. I do agree the OP needs to confer with a lawyer/legal expert before making any decisions...


Exactly. Even if its a small business you need a lawyer to make sure that the paperwork is in order - the OP is in London after all.


----------



## Mr Rossi (May 16, 2009)

I agree that even the smallest of SME's should still consult a lawyer. What I was referring to was the jibes about asking on a forum instead of the OP's Harvard MBA that most bus drivers have.


----------



## desert mouse (Jan 18, 2013)

Thanks for the feedback.

I am already consulting with lawyers and various agencies , was just looking for any pitfalls others may have experienced .


----------

