DUBAI is also known as the ‘City of Gold’. Business license for trading in Gold, Diamond or non-manufactured precious metal has become one of the most sought-after licenses in UAE. DMCC (Dubai Multi Commodity Centre) Freezone and SAIF Zone (Sharjah Airport Freezone) have become the hub of bullion traders from all over the world. DMCC is one of the popular Free Zones for Gold Traders to obtain a Gold Trading License in UAE.
The Gold Traders will bring gold from African countries like Ghana, Sierra Leone, South Africa, etc., and get it refined at the Gold refineries at DMCC. The Gold Refineries will transform the Gold Bars into Gold Ornaments and products for retail sale in UAE.
Gold Trading in UAE is a prospective and mature business sector with ample infrastructure support for investors. UAE offers sophisticated Gold Refineries for traders to process the Yellow Metal into attractive Gold Ornaments, business licensing, and regulatory support for enhancing gold trading in the region.
Investors can get a Gold Trading License in UAE from any of the following business entities.
The DMCC and Dubai Gold & Diamond Park are the ideal choices for starting a Diamond Trading Company in Dubai. There are various business activities such as wholesale trading of gold, diamonds, and precious metals available in the Free Zones. The trader can become an intermediary in the Gold, Diamond, and Precious Metals supply chain or act as a mainstream trader. They can also be involved in sourcing gold and diamonds from the mines or refineries, conducting quality assessments and verifications, storage and transportation, and many more.
Gold trading is a popular trade category in Dubai and it is seeing a rise due to the rise in local demand for gold from the expatriates and tourists coming to Dubai. Investors who are wanting to take the Gold Trading License in Dubai must decide on which business jurisdiction to choose for opening their company.
To start a Gold Trading Business in Dubai there are several options available for the investors. However, the DMCC Free Zone and the Gold & Diamond Park seem like the best options to choose considering the robust infrastructure and ecosystem they have in place to support the Gold Traders in the UAE.
In UAE, gold trading is a special category business sector with few specific business centers offering trade licenses for gold trading. In Dubai, there are three major choices for businesses to obtain the Gold Trading License in Dubai.
If looking at gaining a strong local presence and sell directly to the public. Being at any of the UAE Souks would be the perfect option. For gaining such a physical presence, the DED License would be the right choice.
Here are the 3 Major Business Centres where you can secure a Gold Trading License in Dubai
DMCC consist of an entire gold value chain. It has companies listed under various activities ranging from research and refining to trading and investment. DMCC provides top-class services and infrastructure for Gold Trading Companies to scale up easily. DMCC also has a Gold & Other Commodity Exchange (DGCX) for facilitating the Gold Trading & investments. Also, numerous ancillary services supporting gold Trading.
The DMCC Free Zone is a perfect choice for opening a gold trading business as it has the perfect infrastructure and support services. The Free Zone is well equipped with end-to-end services related to the Gold Trading business. Hence, DMCC is the right fit for starting a Gold Trading Business in UAE. The Commodities exchange, in-house gold refineries, supporting business infrastructure, etc., make it an investor's favorite Free Zone, especially for trading in Gold and Precious stones.
Gold business can be successfully registered and operated from a Free Zone in Dubai. For starting a gold trading company in Dubai, the investor can register with the DMCC Free Zone. Following are the main steps in setting up a Gold Trading License in Dubai.
The first stage involves company registration by submitting the trade name for approval to DMCC. The company registration form and all the required documents have to be reviewed by the DMCC authorities to issue the initial approval. Then the investor can choose the office space, warehousing facilities, etc.
DMCC has a wide range of Office types ranging from unfurnished (Shell & Core) to fully furnished office spaces. The tenancy agreement and rental contract must be prepared and submitted to DMCC to issue the final License documents.
Finally, the investor must choose the office space and prepare the tenancy contract for the office. Submit the contract to the DMCC authorities for review and obtain the Gold Trading License. So, now the investor can legally trade gold in UAE and international markets. Gold Trading License from DMCC will enable the global investor to establish their Gold Trading Company in UAE and seamlessly start operating in the region. There are huge opportunities for gold trading in the UAE and the Middle East region.
The Gold and Diamond Trading License from DMCC will allow the trader to conduct a wide range of permissible business activities. The DMCC Free Zone offers all required infrastructure facilities for a Gold and Diamond Trader in UAE. The Free Zone houses the Dubai Diamond Exchange (DDE), a logistics and transport facility dedicated to Diamond Transport, a Secure Vault for Diamond storage, a grading lab and Boling facility to test the purity of Diamonds and many more.
There are a few advantages for business investors in obtaining a trading license in Gold and Metals from the DMCC Free Zone. Following are the benefits of setting up a gold trading business in the DMCC Free Zone.
For investors in Gold Trading Business, the supporting infrastructure is an important aspect. The Dubai Gold & Diamond Park provides the right platform for gold trading business investors. For the trading in gold, there are several operational elements the investor will be coordinating and managing.
The gold and diamond park offers the investors all the support system for successfully trading the gold and precious metals in Dubai. The Free Zone in UAE offers many benefits and a one-stop shop for Gold and Precious Metals trading, manufacturing, and retailing. The complete value chain of the Gold Trading sector is present in the Free Zone.
The Dubai Gold & Diamond Park is a Retail plus Manufacturing ecosystem governed by the Jebel Ali Freezone Authority. The Free Zone has 118 custom-built manufacturing units and 350 offices and retail shops that are involved in Gold and Precious Stones trading and manufacturing.
To obtain the Gold Trading License in Dubai from Gold and Diamond Park there are certain steps to follow. The investor must take a physical office space within the Free Zone for retailing, manufacturing, or trading the Gold. Gold Trading is a lucrative business in UAE as there is a growing requirement for jewelry from the end consumers. For various occasions, the end consumers look for jewelry to match their event requirements.
Hence, the investors in Gold Trading Business can easily scale up their supplies to source the gold for the retail manufacturers to meet the growing demand. So, for legally sourcing the gold from abroad to UAE and conducting Gold Trading, having a specific gold trading license as well as office space is mandatory for the investor.
To apply for a Gold Trading License from Gold and Diamond Park there are certain document requirements. The investor must submit the following supporting documents to the Gold and Diamond Park authorities to obtain the Gold Trading License.
Various business license types are available in the Gold and Diamond Park Free Zone for investors. Depending on the business activity, the investor must choose the right business license for their company.
There are many advantages for the investors in setting up their company in Gold & Diamond Park. Obtaining a Gold Trading License from the Free Zone is beneficial for the business owner in multiple ways as it will contribute to the long-term business growth of the company.
For a more retail space and easily penetrate the local UAE market, the DED gold Trading License is the perfect option. The Gold Souk Market in Deira is the perfect place for setting up a retail shop in Dubai for gold and precious metals.
Dubai is known as the city of gold. The enormous demand from the local UAE & GCC market as well as India, China, etc, is making Dubai a top-class shopping destination for gold and precious metals. Also, quality products with certifications from the Government are adding up to the credibility of Gold Shopping in Dubai. Hence Gold Trading in Dubai is a lucrative business investor for investors across the world.
When it comes to the Dubai Mainland, the Licensing Authority is the Dubai Economic Development ( DED). They offer a wide range of business activities under the broad category of Gold Trading License in Dubai. Investors can easily obtain a Gold Trading License from the Dubai Mainland with minimal documentation and approvals. There are a few steps in obtaining the Gold Trading License from the Dubai Economic Development.
Also, there are few documentation and approvals for processing the Gold Trading License in Dubai. The process of obtaining the Gold Trading License starts with the following steps:
Dubai Mainland is the perfect choice for obtaining a Gold Trading License in UAE. The Cost of a gold trading license in Dubai Mainland is AED 28,040. Our expert Business Consultants will guide you to setup a Gold Trading Business in the most cost-effective way. By obtaining a Gold Trading License from the Dubai Mainland, the entrepreneur can set up their Gold Trading Business anywhere in Dubai.
The cost of a Gold Trading License in Dubai Mainland varies with the office space, visa quota allocation, location, and more. Gold Trading License in Dubai Mainland enables the company to trade in the physical form of Gold such as Ingots, Bullion, Biscuit, or any shape.
|Trade Name Reservation (one time)
|Initial Approval (one time)
|Electronic MOA (one time)
|License fee Payment Voucher (this is approximate cost only the actual cost will determine upon issuance of PV) (yearly)
|Virtual office with Tenancy & Ejari Certificate- eligible to apply up to 10 (visa quota)
|Security Industry Regulatory Agency (SIRA) Approval
|Total Cost of Gold Trading License
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)
SAIF Zone is a popular choice for obtaining Gold Trading License in UAE, it has two refineries for processing the Gold brought in by the traders from various parts of the world. The Free Zone has two Gold Refineries in the premises for the traders to import Gold from suppliers around the world and process the Gold into ornaments or other products.
Gold Trading License in SAIF Zone is preferred among global traders for the easy company setup and access to allied facilities of the Free Zone. The warehouses and office spaces are ideal for the Gold Traders to set up and run their business from the Free Zone seamlessly.
SAIF Zone has an in-house Customs Department to regulate the import-export to the Free Zone. The Strategic location adjacent to the Sharjah International Airport makes it the right choice for Global Traders. It will enable easy transport of goods to and from the Free Zone.
AURION, the best business setup consultants in Dubai will guide investors through the end-to-end process of obtaining the Gold Trading License in Dubai without any hassle.