HOW TO START GOLD TRADING LICENSE IN DUBAI?

Gold trading is a thriving industry in Dubai, experiencing a surge in demand from expatriates and tourists. For investors seeking a Gold Trading License in Dubai, selecting the right business jurisdiction is crucial.

There are multiple options available to investors interested in the Gold Trading Business in Dubai. However, considering the robust infrastructure and supportive ecosystem for Gold Traders in the UAE, the DMCC and the Gold & Diamond Park stand out as the top choices.

In the UAE, gold trading holds a special status, with a limited number of dedicated business centers providing trade licenses for this sector. In Dubai, entrepreneurs can select from three major options to obtain their Gold Trading License.

For businesses aiming to establish a robust local presence and sell directly to the public, opting for a presence at any of the UAE Souks would be an ideal choice. For gaining such a physical presence, the DED License would be the right choice.

Discover the top three prominent business centers in Dubai where you can obtain a Gold Trading License.

1. Gold Trading License in DMCC
2. Dubai Gold & Diamond Park
3. Gold Trading from DED

1. GOLD TRADING LICENSE IN DUBAI DMCC

DMCC encompasses the entire gold value chain, housing companies engaged in diverse activities ranging from research and refining to trading and investment. With exceptional services and infrastructure, DMCC empowers gold trading companies to effortlessly scale up. Additionally, DMCC boasts the Gold & Other Commodity Exchange (DGCX) to facilitate seamless gold trading and investments, along with an array of ancillary services to support the trade.

The DMCC Free Zone presents an ideal choice for establishing a gold trading business, offering impeccable infrastructure and comprehensive support services. This Free Zone is equipped with end-to-end solutions tailored to the gold trading industry, making DMCC the perfect fit for launching a gold trading venture in the UAE. With its commodities exchange, in-house gold refineries, and robust business infrastructure, DMCC has become the preferred Free Zone for investors, particularly those involved in trading gold and precious stones.

HOW TO START GOLD TRADING BUSINESS IN DUBAI DMCC?

Investing in the gold trading business in Dubai is highly lucrative. The stability of gold prices in this region plays a pivotal role in the increasing demand for this precious metal. Registering and operating a gold business from the DMCC Free Zone in Dubai can lead to resounding success.

Setting up a gold trading company in Dubai involves a series of steps. To obtain a gold trading license in Dubai, investors can follow the comprehensive steps below. The process consists of two main stages for establishing a gold trading business in Dubai.

1. GOLD TRADING COMPANY REGISTRATION & PRE-APPROVALS

The first step in the process is to register the company by submitting the trade name to DMCC for approval. Once the company registration form and all required documents are reviewed by DMCC authorities and receive initial approval, the investor can then select the desired office space and warehousing facilities.

DMCC offers a wide range of office types, from unfurnished (Shell & Core) to fully furnished spaces. To obtain the final license documents, the tenancy agreement and rental contract need to be prepared and submitted to DMCC.

By improving the writing quality, optimizing word choice, structure, readability, and eloquence, the registration process becomes more streamlined while preserving the original meaning.

2. GOLD TRADING BUSINESS LICENSING

Once all the necessary steps have been taken, the investor can proceed with selecting an office space and preparing the tenancy contract. This contract should then be submitted to the DMCC authorities for review, ultimately leading to the acquisition of the coveted Gold Trading License. With this license in hand, the investor gains the legal ability to engage in gold trading within both the UAE and international markets. By establishing their very own Gold Trading Company in the UAE, the investor can seamlessly navigate the region’s bustling gold trading opportunities. The UAE and the Middle East as a whole offer immense potential in this regard.

ADVANTAGES OF ESTABLISHING GOLD AND METAL TRADING BUSINESS IN DMCC

Obtaining a trading license in Gold and Metals from the DMCC Free Zone offers several advantages for business investors. Let’s explore the benefits of setting up a gold trading business in this zone.

For investors in the Gold Trading Business, having a supportive infrastructure is crucial. The Dubai Gold & Diamond Park provides the perfect platform for gold trading business investors, offering all the necessary resources. When it comes to trading in gold, there are various operational elements that the investor will need to coordinate and manage.

The gold and diamond park caters to the needs of investors in trading gold and precious metals, providing a comprehensive support system. The DMCC Free Zone itself offers numerous benefits, serving as a one-stop shop for Gold and Precious Metals trading, manufacturing, and retailing. It encompasses the entire value chain of the Gold Trading sector, creating a favorable environment for business growth.

•   No corporate or personal taxes
•   100% foreign ownership
•   100% Repatriation of profits and capital
•   A secure business environment with CCTV surveillance, fire alarm system, 24/7 security
•   24/7 access to operational facilities
•   Well-built infrastructure and easy business setup

2. DUBAI GOLD & DIAMOND PARK

The Dubai Gold & Diamond Park operates as a comprehensive retail and manufacturing ecosystem, regulated by the Jebel Ali Freezone Authority. Within this Free Zone, there are 118 purpose-built manufacturing units and 350 offices and retail shops dedicated to the trading and manufacturing of Gold and Precious Stones.

STEPS INVOLVED IN OBTAINING GOLD TRADING LICENSE IN DUBAI FROM THE GOLD & DIAMOND PARK

To obtain a Gold Trading License in Dubai from the Gold and Diamond Park, there are specific steps that need to be followed. The investor must secure a physical office space within the Free Zone for retailing, manufacturing, or trading gold. Gold trading is a highly lucrative business in the UAE, given the growing demand for jewelry among end consumers. Whether it’s for special occasions or personal preferences, end consumers are constantly seeking jewelry that complements their needs.

As a result, investors in the gold trading business have ample opportunities to expand their supplies and cater to the rising demand from retail manufacturers. To legally source gold from abroad to the UAE and engage in gold trading, having a dedicated gold trading license and office space is a mandatory requirement for investors.

1. Finalize the office space, manufacturing unit, warehousing facility, and prepare the tenancy contract agreement.
2. Apply for a gold trading license from Jebel Ali Freezone Authority by submitting required documents.
3. Prepare the required MOA & partnership deeds, NOCs, to obtain the license.
4. Apply for a corporate bank account to receive payments and conduct other transactions.

DOCUMENTS REQUIRED FOR A GOLD TRADING LICENSE IN GOLD AND DIAMOND PARK

In order to obtain a Gold Trading License from Gold and Diamond Park, there are specific document requirements that need to be fulfilled. The investor is required to submit the following supporting documents to the authorities at Gold and Diamond Park to successfully obtain the Gold Trading License.

1. Gold Trading license application form
2. Company name approval form to be submitted to the Freezone authorities
3. Passport Copy of the partners / respective shareholders
4. Other required documents ( Shareholder resolution, MOAs, NOCs) as required

TYPE OF LICENSES AVAILABLE IN GOLD AND DIAMOND PARK

Investors in the Gold and Diamond Park Free Zone have a range of business license options to choose from. The selection of the appropriate license depends on the nature of the business activity. It is crucial for investors to carefully consider and select the right license that aligns with their company’s requirements.

•   Gold & precious metals Trading License
•   Manufacturing License
•   Retail Licenses
•   Innovation License
•   Service License
•   Ecommerce License

ADVANTAGES OF SETTING UP A GOLD TRADING BUSINESS IN THE DUBAI GOLD & DIAMOND PARK

Setting up a company in Gold & Diamond Park offers numerous advantages for investors. Acquiring a Gold Trading License from the Free Zone provides multiple benefits to business owners, facilitating long-term growth and prosperity.

•   100% Foreign Ownership
•   Low corporate taxes
•   Hallmarking facility from Dubai Municipality
•   24/7 secured workplaces for gold traders
•   All-in-one Freezone area with manufacturing units, trading, retailing for gold & precious metals
•   Easy availability of skilled Labour

3. GOLD TRADING LICENSE FROM THE DUBAI ECONOMIC DEVELOPMENT (DED)

To effortlessly tap into the local UAE market and create a thriving retail presence, the DED Gold Trading License presents an ideal choice. The Gold Souk Market in Deira serves as the perfect location for establishing a retail shop catering to gold and precious metals.

Dubai, renowned as the city of gold, has emerged as a premier shopping destination for gold and precious metals, attracting immense demand from the local UAE & GCC market, as well as countries like India, China, and more. The credibility of gold shopping in Dubai is further enhanced by the availability of quality products with government certifications. Consequently, gold trading in Dubai emerges as a lucrative investment opportunity for global investors.

COST OF GOLD TRADING LICENSE IN DUBAI

Dubai Mainland presents an ideal opportunity for acquiring a Gold Trading License in the UAE. With a cost of AED 28,040, obtaining a gold trading license in Dubai Mainland offers a straightforward and cost-effective solution, without the requirement of a local sponsor and allowing for 100% expatriate ownership.

The cost of a Gold Trading License in Dubai Mainland can vary depending on factors such as office space, visa quota allocation, and location. This license empowers companies to engage in trading physical forms of gold, including Ingots, Bullion, Biscuits, or any other shape. Explore the possibilities of the Gold Trading License in Dubai Mainland and embark on a lucrative journey in the gold trading industry.

Please note that the government and related authorities’ fees mentioned are approximate costs. The exact government fees will be determined when the applications are submitted. Additionally, there is an additional 2.5% charge for office rent at DED for physical office spaces. Rest assured, we will provide receipts for all government fees along with the necessary supporting documents.

To know more about Obtaining Gold Trading License in Dubai, talk to our experts!

TIME SPAN: 7 to 10 days depending on the government approvals.

REQUIRED DOCUMENTS: (For Individual Shareholder)

1.  Proposed Name – 5 options
2.  Passport copies of Shareholders
3.  Copy of Emirates ID  (for UAE resident)
4.  No Objection Letter (NOC) from the sponsor on  company letter head signed and stamped (for UAE resident)

HOW TO START GOLD TRADING LICENSE IN SHARJAH AIRPORT FREE ZONE (SAIF ZONE)?

SAIF Zone is a preferred destination for acquiring a Gold Trading License in the UAE. With two refineries on-site, it enables traders from across the globe to import gold and transform it into exquisite ornaments or other valuable products. This Free Zone serves as a hub for processing gold brought in by traders from various parts of the world.

The Gold Trading License in SAIF Zone is highly sought after by international traders due to its seamless company setup process and convenient access to a wide range of Free Zone facilities. The Free Zone’s warehouses and office spaces provide an ideal setting for Gold Traders to establish and operate their businesses efficiently.

SAIF Zone boasts an in-house Customs Department, ensuring seamless import-export operations within the Free Zone. Its strategic location adjacent to the Sharjah International Airport makes it an ideal destination for global traders, facilitating convenient transportation of goods to and from the Free Zone.