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In Dubai, you can obtain various types of business licenses depending on your business activities. The main categories include:

• Commercial License: For trading activities.
• Industrial License: For manufacturing or industrial activities.
• Professional License: For service-oriented businesses, professionals, and artisans.
• Tourism License: For businesses related to travel and tourism.

Yes, foreigners can own 100% of a business in certain sectors and areas, particularly in the Free Zones. Outside of Free Zones, foreign ownership is typically limited to 49%, with a local sponsor holding the remaining 51%. However, recent reforms have allowed 100% foreign ownership in specific sectors outside Free Zones.

You need to:

• Renew your trade license annually.
• Maintain proper financial records.
• Comply with UAE’s labor laws and employment regulations.
• Pay applicable taxes and fees.
• Ensure adherence to sector-specific regulations.

The process involves:

1. Notifying the relevant authorities and stakeholders.
2. Settling all debts and obligations.
3. Cancelling visas of employees.
4. Submitting a deregistration application to the DED or Free Zone Authority.
5. Publishing a notice of liquidation in a local newspaper.
6. Appointing a liquidator to manage the process.
7. Submitting the final liquidation report to the authorities.