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Keren Bobker

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winston wambua

Many very successful businesses have been started by best friends, siblings and couples. After all, you know you get along with your potential business partner and it's easy to imagine all the fun you'll have working together. But the first thing you'll want to do when starting a business with a friend is imagine the worst-case scenarios and then prepare for them by drafting a partnership agreement. The aspect of creating a partnership is legally structuring your business as a general partnership . In a general partnership, the partners run the company and are responsible for the company's debts. A limited partnership has both general partners and limited partners, who are involved as investors only (for example, your parents) and have less liability than the general partners. This form is less common and has complicated paperwork so you'll likely be looking into implementing a regular partnership. You'll want to speak to a qualified Business Consultant or attorney initially about the issues of a general partnership and again, it might be a good idea to consult an attorney. This can draw up the partnership agreement or propose you a structure while your assets are protected like holding structure and explain all the legal ramifications to you.

jazz

I have a question. I am the owner of a service company in a Free trade Zone in UAE, with a 3 year residence Visa. The license of my company is coming up for renewal on 1st March, it can be renewed it in upto 6 months and will come to Dubai and renew it in April as that is the earliest I can travel due to personal reasons. Will there be any issue due to this at immigration or arrival ? thanks and regards