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Discussion Starter · #1 ·
Hi All

I am looking to purchase a running business in dubai and settle here soon aswell, i am in and out of dubai a number of times a year on holiday and other reasons. I am a british citizen

I have came across business for sale online on dubizzle etc, and have been over to view the business and am looking to make a move for one.

I want to know what do i need to do in order to buy a business, what do i need to be aware of, do i need a licence or visa? And if i do where do i go?

Any help would be much appreciated.

Many Thanks
Haroon
 

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Originally from UK but lived in many countries
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Hi,
You are moving into very difficult territory in what you are trying to achieve.
Pitfalls are numerous and there are a multitude of ways that you could easily be relieved of your money - with absolutely nothing to show for it!
An awful lot depends on what type of company you are investing in - onshore or free zone, who the existing owners are, who the existing sponsor is (for onshore company), whether the sponsor is active in the business or simply 51% owner, on paper etc. etc.
If I were you, I would be looking to start a new company from scratch - so that you can be more sure of both the legal status as well as shareholders and local sponsor selection.
Of course, that is less attractive than buying a portion of an existing profitable business - where someone has already gone through the growing pains.
Cheers
Steve
 

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Discussion Starter · #3 ·
It's actually a couple of supermarkets if that narrows it down a bit
I have been sent the sales figures and accounts which seem pretty good
 

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Hello Haroon,

I also have thought about doing some business in Dubai. I am originally from Dubai(born and raised) living in USA now. I've been meaning to come back permanently for a while now. Perhaps we can help each? reply back/message me if you're interested. look forward to hearing from you soon. thanks mate!
 

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I recently had the oppurtunity to buy an existing company, especially after the owners told me its profit figures. However, after careful review of the company's financials and cashbooks, i came to realise all is not as it seems. Ask yourself, why would someone sell a profitable business?
 

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Originally from UK but lived in many countries
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I recently had the oppurtunity to buy an existing company, especially after the owners told me its profit figures. However, after careful review of the company's financials and cashbooks, i came to realise all is not as it seems. Ask yourself, why would someone sell a profitable business?
Retirement, bereavement, relocation, starting another business in another field - there are many valid reasons that people sell good, going concerns.
As stated in my original answer - the issue is due diligence. This is relatively easy to do in the UK - but very hard to do properly here.
Best of luck
Steve
 
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