By 
Setting up a business in Dubai is certainly an exciting prospect. But if you go through the whole process without considering the legal side of establishing and having a business here, there is a big chance that you will encounter some issues that will prevent you from accomplishing your goals. These legal problems may hamper your operations as well.
Whether you are still starting a small business or already running one in the UAE, working with a corporate lawyer from the top law firms in Dubai will help ensure you are on the right side of the law every step of the way. This is because a corporate lawyer can help you in the following ways:
1. Choosing the best business structure
Starting a business in Dubai typically begins with selecting a legal structure that is ideal for your business needs.
In the UAE, your options include sole proprietorships, incorporation, limited liability company (LLC), and partnerships, among others. You can also set up a company in one of the free zones which follow other types of business structures.
A corporate lawyer will help you select the most appropriate structure for your business by considering key factors such as the number of people involved, the type of business, financial requirements, and liability issues.
2. Getting business insurance
Even if you have a small business, you and your company can be exposed to a number of risks. Your employees can get injured while they are in the workplace or a customer may become sick after using your product. You also need sufficient coverage if you will be relocating.
To protect your business, you need to have the right type of coverage before and during the run of your business. A lawyer will explain to you the risks you may need to insure against and help you choose the right plan.
3. Preparing and checking contracts
Before signing any legal contract or having someone else sign one you prepared, it is best to get the advice of a corporate lawyer.
Some types of contracts that a corporate lawyer can help you with are:
- Employment contracts
- Lease agreements
- Licensing agreements
- Subcontractor agreements
- Incorporation, partnership and shareholder agreements
This way, even in a serious case of employee disciplinary action, for example, you will know if you are well within your rights as an employer in making such decisions.
4. Providing protection against commercial or corporate litigation
Having insurance is a good start to protecting your business. However, in case you get sued, you need to have someone represent and defend you in court.
Having a corporate lawyer on your payroll ensures you have will have someone respond to any lawsuit immediately. He or she can even prevent lawsuits before they happen. Your lawyer can do this by working out an out-of-court settlement with the aggrieved party.
5. Giving you important legal updates that concern your business
Lastly, business laws and regulations get updated or revised frequently. It is important that you are aware of any legal changes that can affect your business since ignorance is never an acceptable excuse when you break the law.
Having a corporate lawyer is the best way to ensure your business stays on top of any regulatory changes. He or she will always be on top of new laws and policies and take note of any legal or regulatory changes that will have an impact on the operations of your business.
Your lawyer will also help you modify certain procedures or operations in your business to ensure you will comply with new regulations.
If you want to have a successful small business, you won’t go wrong with hiring a corporate lawyer to assist you as you set up and run your venture in Dubai.
Comments