Why do you need a legal corporate advisor for starting a business in the UAE
Without a doubt, the UAE is a highly lucrative place for businesses to thrive. Not only because of its strategic geographical location, but also the supportive environment it provides for company owners. Thus, it attracts entrepreneurs from all over the world. However, each of the seven Emirates in the country has its own set of legal framework and varying jurisdictions. Thus, those seeking to set up a business in Dubai and the UAE need to consult a certified corporate legal advisor.
Some of the initial thoughts that a new business investor will have include:
Who is a legal consultant?
They are professionals who provide non-judicial corporate services to help with all aspects of your business formation and beyond. Legal consultants in Dubai are certified by private institutes. One should not confuse them with lawyers who are registered under the Ministry of Justice. While lawyers help people get out of trouble, corporate legal advisors help you stay out of trouble.
What does a corporate advisor do?
The primary task of legal advisors is to analyse your business requirements. Then, they guide you on choosing the best possible jurisdiction to support your company from its initial phase. Other important services include:
- Helping you decide what kind of organizational structure best suits your business activities
- Fool-proofing all contracts related to your company and partnerships
- Overseeing all activities related to tax and license
- Assisting with corporate restructuring process
- Advising on termination of troublesome employees
- Assisting with finding and leasing workspace
- Helping creative businesses with filing for patent or trademark of intellectual property
Why do you need a certified corporate legal advisor?
At first, the need for legal advice may not seem apparent to setup business in Dubai. This is because, the internet has no dearth of information on the process of company formation. Also, in the face of the pandemic, businesses in the UAE have become cost conscious, according to business setup consultants. Only experts with relevant experience will be able to grasp the complexity of your project to provide you vital assistance.
The UAE is governed by federal laws at large. However, when it comes to economic activities, each of the seven Emirates have their own rules and regulations in place. Legal advisors, with extensive knowledge on local jurisdictions, offer the best suited solutions to help your business thrive. Furthermore, they protect you from landing into any legal complications at the initial stage as well as in the future.
How do you find a business consultant in Dubai?
Once you understand what a certified corporate legal advisor does and why you need one for your business, it is time for research. The first step in seeking such services in Dubai is to have a basic check list:
Certification: It is important to verify the credentials of the professional. You will be seeking guidance from regarding some of the most crucial details of your business. At the same time, do not confuse between a lawyer or an attorney and a legal corporate advisor. A lawyer caters to matters related to the judiciary. Meanwhile, the latter must have a certification from an accredited institution.
Experience: It is advisable that you consult a corporate legal advisor who has a good amount of experience. They should be familiar with the jurisdiction where you are planning to conduct your business activities.
Connections: A professional sharing a good rapport with relevant people or authorities concerned in their field gets work done faster. They are also good in finding a way to work things out in tricky situations.
Clientele: The type of businesses a legal corporate advisor has dealt with or has been dealing with helps you narrow down on your choice. If they have previously worked with projects similar to yours, they are likely to offer better solutions.
Accessibility: Seek an advisor who has the time to thoroughly review your business and requirements. This ensures that they can come up with tailored solutions. If you just go by the name and it turns out that they already have too much on their plate, you perhaps may not receive the best assistance.
Fees: Depending on the nature and size of your company, you can decide to hire a legal corporate advisor. There are options to get them on board either on a full-time or a retainer basis. You must keep in mind the overheads and hourly rates.
Consult with a legal corporate advisor
Finally comes the task of approaching the most suitable and certified legal corporate advisor to help boost your business. The dilemma of “where to look” for the best business expertise under one roof is no longer a mammoth job. Shuraa Business Setup boasts of a pool of well-connected legal corporate advisors with extensive experience. Shuraa is a 20-year-old pioneer in business consultancy which has helped set up more than 35,000 companies in the UAE.