Questions & Answers
The legal procedures required to start a real estate firm with a partner
Good day,
I am a Dubai-based ex-pat. I want to start a real estate firm with my co-worker. I want to know the legal procedure for the partnership and signing the document prior to opening any business for better protection for both of us.
We are friends first, future business partners later. I want to know all the things to understand better what's going to happen and how it can be done correctly. If anyone here can be a guide and explain in short, their advice would be very helpful and appreciated.
Thank you!
Dear Sir/Madam,
Many thanks for your inquiry!
You will require a shareholders' agreement that sets out the rights of you and your business partner, the amount of money that you both intend to invest in the business, share percentages, shares of profit, liability for company debts, exit strategy, and the sale of a partner's shares as well as dispute resolution.
My law firm is very innovative and we have designed online solutions for business owners to help them during the pandemic, which can be purchased securely and quickly for a fraction of the market value.
To learn more and other innovations coming out in 2022, please send me a message on WhatsApp.
Many thanks,
Jennifer Arkhurst
