The offshore company incorporation process in the UAE offers a second option for business investors to purchase an existing company. This guide will give you the complete essentials you need to know before buying a UAE existing business. Let's take a step back and begin from the basics before moving forward with the buying process.
What is an Existing Offshore Company?
An existing company is often known as a ready-made company intended for investors who decide to start their business operations immediately and do not want to participate in the lengthy registration process. We may conclude that existing businesses are legal business organizations ready-to-occupy and have already been licensed in simple terms. Some of the traits of the established offshore company are shown below:
- They are already licensed
- They stand as inactive corporate units
- Can be modified accordingly
- Serves to be easy
The established companies have already been listed in the Registry of Companies and thus possess the Certificate of Incorporation. The characteristics mentioned above are beneficial to business owners and investors, encouraging them to step forward and acquire an established company in the UAE.
Buy a Ready-Made Existing Company in the UAE
In the UAE, you must either open a new company or purchase an existing company to start your business. The established companies are often classified as an existing business, ready-made, or aged business. It is a legally licensed business that is not operating. It can be acquired by anyone to skip the tedious registration or incorporation process. So, if time is a limitation for your company, the best choice may be an existing company.
Selecting the Right Existing Company and Advisor
There are various types of established businesses, depending on their suitability, choosing the correct one. It includes risk if the past of the shareholders, bank accounts, debts, etc. are not adequately managed until the current company is passed to the business owners. Before the selection process, it is best to speak to our consultants. Understanding the fees, time, and other criteria for owning an established business is essential.
Advantages of an Existing Company
1. Saves Effort and Cost
It eliminates the time and cost of establishing a brand new company.
2. Offers Easy Access to Capital and Loans
Potential borrowers or business capital are more likely than a younger company to extend a loan or lend to an existing business. The organization would also have more access to loan lines, leases, banking partnerships, and investment resources.
3. Does Away with the Processing Period
Owning a ready-made organization helps you participate as an existing entity in small business or real estate contracts without going through the long wait period of forming a brand new organization.
4. Gives Easy Access to Agreements
Some of the UAE government bidding processes require a defined minimum period for your company to operate. If a new business wants to compete in such bids, purchasing a ready-made company becomes beneficial.
5. Longevity and Operating History
An aged business offers proven continuity and operating history, making it easier to create the corporate picture.
6. Easing the Documentation Method
The longer the registered company, the faster the association members can view and process business visas and company documents.
Why Choose Us to Buy an Existing Company in the UAE?
At Commitbiz, we are well versed in the legal aspects of acquiring a new company and the business environment of the property. We conduct the required due diligence to provide rapid service once you recognize the UAE’s existing Business. Our services include RAK Offshore existing companies, Ajman Offshore existing companies, Free Zone existing companies, and Jafza Offshore existing companies.
Once you choose an existing company, our experts can check the legal address, fee structure, corporate bank account, managers’ addresses, and all necessary certificates and permissions. Our assessment system takes great care to verify that no current liabilities are passed on to you after a takeover. In any matter involved in acquiring the company, we will also provide you with all the expert assistance.
For the procurement of an existing company, we will ensure that you do not end up paying a considerable premium. We will assist you in your discussions and pass the ownership once the approvals are soundly set up. To sum up, Commitbiz will license the current company and keep it ready for the buyer.
Therefore, you can see that one of the best investment decisions you can make when setting up an offshore business in the UAE is moving ahead with an existing business. For knowing more: offshore company formation in the UAE. It is to be noted that you need to be conscious of the location as it plays a significant role in boosting your company’s growth. One of the conventional ways global investors choose to proceed is to have a word with business professionals who are well-versed in business incorporation procedures.
How to Buy an Existing Company in the UAE?
The existing company’s registration process becomes easy as it does not have any real registration acts and needs a day or two to pass ownership. While purchasing a current company in the UAE, the following steps should are being chosen to focus:
- Select a name for a committed organization
- Fill in the corresponding business application.
- With the Articles of Association (AOA), be handy.
- Send the necessities to the Business Registry with the correct records.
- Charge the adequate amount
- Once the transaction is made, related documents regarding formation will be provided.
- The Certificate of Incorporation is provided within 2-3 working days after the materials are signed.
Advantages of Availing Professional Services
You can take advantage of the critical benefits by allying with business experts to purchase an existing business:
- Experts will help you find the right inference at a faster speed.
- They are well-suited with the availability of the existing firms.
- Provides you several alternatives
- Accounting and bookkeeping records are managed efficiently.
- The documentation procedure is carried out professionally.
Commitbiz is one of the best business consultancies that focuses on finding the best solutions for business integration. Our company experts are very well-versed in the process of establishing an offshore company in the UAE and can help you find an excellent existing company for your company.
Do you wish to know more about purchasing an existing company in Dubai / UAE? Please Contact Us now; we will be keen to support you.