Questions & Answers
The due diligence before buying an existing business in the UAE
I'm going to buy an existing business in the UAE (mainland company). Please advice:
1. How can I check whether the company has any existing liabilities in UAE banks?
2. What kind of documents shall I request from the company owner as a confirmation that he paid all his debts to the local agent?
3. Would I request any proof from the local agent?
Thank you!
Hi,
Purchasing an existing business requires extensive due diligence procedures to determine the business’s liabilities and obligations.
We can assist you in this process and guide you through the proper channels to ensure that you are provided with accurate and correct information.
For further details, please contact us via email.
Dear client,
Good day!
We understand that you want to acquire a company.
If the matter is the acquisition, you need to complete an audit of the company which confirms the number that the company is offering.
Also, you have to do Due Diligence. We check in the Chamber of Commerce regarding the status of the company, check in the Economic Dept. about the status of the company, check in the Civil Court, and Execution Court if there are any orders or execution cases against the company.
And after that, we can also do a check if there are any liabilities against the company. We can send an email via court to the Central Bank and check if there's any clearance or any issues of the credit against them.
For further assistance, please feel free to contact us via phone or email.
Thank you!
