Irrespective of the fact that you are running a business on a large scale or just started it with a small investment, it is mandatory to hire a commercial lawyer for your service in Dubai.
It is not recommended to initiate your business operations without any legal assistance because rules and regulations are strictly observed in Dubai. So if you wish to run your business smoothly in the future, you must require a legal commercial lawyer right from the start.
How to Start?
Always remember to get prepare for early actions rather than delay. If you do not have legal assistance and commercial lawyers in Dubai then there will be huge chaos in case of any emergency. It is therefore important to list down all the possibilities to what could go wrong in the future. Search for few lawyers in Dubai that are available according to your budget and fully understand the nature of your business. It is also important to keep in touch with your selected lawyer so that if any emergency hits, you wouldn’t be unprepared.
What Qualities Are Required in a Commercial Lawyer in Dubai?
Following are certain skills that one must require to hire a commercial lawyer in Dubai:
- There are different nature of businesses like proprietorship, huge corporations, and partnerships. You must look for a commercial lawyer who has at least 2+ years of experience in dealing with the nature of the business you are currently running. Besides the legal advice, one must be an expert in dealing with paperwork also because rules are not the same for foreigners and citizens in Dubai.
- Your lawyer must be able to understand and deals with contracts quickly as it is a legal bond between parties. He should be smart enough to find the loopholes within a short period to avoid any unnecessary legal emergency.
- It is also important for the commercial lawyer in Dubai to proficiently deal with real estate. As Dubai is the smallest metropolis state with expensive commercial lands, so one must know the estimated value of lands.
- If you are running a creative business like digital media, publishing, advertising, etc then patents and trademarks are very important to you. As the competition is already very high in the current market so your creativity will decide the future of your business so that no one can copy it easily and push you behind. It is therefore recommended to hire a commercial lawyer who has skills in dealing with intellectual property rights. He must be able to serve you with proper paperwork along with patents filing.
- Always look for a commercial lawyer who can deal with tax laws in Dubai. Because when it comes to the tax issue, you will be charged with high penalties and legal obligations.
- Similar to paying taxes in time, it is also important to update your license timely. It is therefore important to look for a commercial lawyer who has expertise in filing and renewing your licenses.
How much Budget is required to hiring a commercial lawyer in Dubai?
The consultation fees start at 1,000 Dh and can go up to 5,000 Dh. there are no fixed legal fee structures. Any lawyer can charge you based on their expertise. Many local commercial law firms provide lawyers, however, the budget of any lawyer is directly proportional to the complexity of dispute in your business. There are different modes of payment for lawyers in Dubai which are discussed below:
- Fixed Fee: Local commercial law firms have a fixed fee structure for certain nature of work like a business startup, transfer of property, lease preparation, trust or will paperwork, etc.
- Hourly Rate Basis: This is the most common mode of agreement between a commercial lawyer in Dubai and a client. Rate is pre-decided by both the lawyer and a client according to the expected time any case is resolved.
- Retainer Fee Mode: In this mode, advance payment has to be made for any sort of legal services local commercial law firms provide negotiable retainer fees structures which are completely transparent in all financial transactions.
- Contingency Fee mode: It is opposite to the above described (Retainer Fee Mode) that is no advance payment has to be paid by the client until or unless a positive outcome of the case appears. Cases like medical negligence or malpractice are under the category of this structure.
It has been observed that Commercial lawyers in Dubai prefer to charge on fixed rates rather than hourly rates. It is therefore advisable to place a meeting with your lawyer and discuss the mode of payment according to your budget before making a financial transaction. There are several factors too that may affect how any commercial lawyer in Dubai may charge you like the experience and expertise of a lawyer, the reputation of a local commercial firm, the complexity of the case, or any other overheads like court fees, paperwork, etc.