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Business license for trading in Gold or non-manufactured precious metal has become one of the most sought-after licenses in Dubai. DMCC ( Dubai Multi Commodity Center) Free zone and SAIF Zone (Sharjah Airport Free zone ) have become the hub of bullion traders from all over the world. DMCC is one of the popular Free Zones for Gold Traders to incorporate a Gold Trading Company 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 the UAE.
There are several options for an investor looking for a Gold Trading Business in Dubai. However, considering the robust infrastructure and ecosystem that support Gold Traders in the UAE, it is the DMCC and the Gold & Diamond Park the best options.
If looking at gaining a strong local presence and selling 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 Centers where you can secure a Gold Trading License in UAE
There are several free zones within the UAE that permit gold trading but perhaps none are more suited than Dubai Gold and Diamond Park. This sprawling free zone features manufacturing blocks, warehousing and a large retail center where traders sell their wares to the public. If you do not intend to sell directly to the public but instead wish to import and export gold from the UAE, you may be better suited to another zone – perhaps one outside Dubai if you are looking to keep costs down. At any UAE free zone, you can expect to benefit from a quick and easy incorporation process, ongoing business support and financial incentives such as tax exemptions and
First things first, before applying for a gold trading license in Dubai or anywhere else in the UAE, you should engage with a company setup expert to ensure you are armed with the right knowledge about the process. A company setup expert can also manage the entire application process on your behalf.
This is a hugely important step when establishing business in the UAE. There are a few things to keep in mind when making this decision. You must abide by a strict, yet easy to follow, set of naming conventions. Once again, a company setup expert can help you with this step.
In short, you should avoid any offensive or blasphemous language. Avoid names of well-known organizations and avoid abbreviations You must also check that your chosen name is available to register
Now to the second and most important step – your license application.
If you are setting up in the mainland, you can make your application directly to the Department of Economic Development or equivalent in another emirate.
If you are setting up in a free zone, then you can make your application directly to the managing authority of your chosen free zone.
In most cases, free zone licenses are issued in a matter of days. To ensure a smooth process, it is once again a good idea to instruct the services of a company formation specialist at this stage.
Whether making your application yourself, or through a company formation agent, you are usually only required to provide a few details and some basic documentation, including:
Just like applying for your trade license, with the right guidance, the process of applying for your own visa, as well as those of your employees, is particular, yet straightforward. Again, an expert in UAE company formation can help you with this step.
As the holder of a UAE business license, you can also sponsor others for their visas too. This could be a spouse, parent or child, or a domestic worker such as a housekeeper.
The maximum number of visas you can apply for will depend on the size of your company, your chosen setup and, for dependent visas, your personal earnings.
As a guideline in this article we will discuss the setting up of a company in the DMCC free zone. We will provide you with a short summary of the procedure and rule for the formation of the company; rough idea also an estimation of the total expenses; and the total number of time taken for the setup of a Company.
The setup process of Gold trading license in Dubai is divided into 3 stages: Pre-approval is the first stage, and 2nd is the Registration Stage and the Licensing Stage is the last stage of getting the license.
In order to get a gold trading license in Dubai in the DMCC free zone; it is must get an approval form from the authority for name reservation. In such a step the authority reserves the name of the Gold business in Dubai; and empowers DMCC to continue due diligence of the investor of the Company. The Pre-Approval along with name reservation of the company generally takes 5 to 7 working days.
Once due diligence of the shareholder is done; then registration phase takes place; in which the registration of Gold trading Dubai is started. The important documents should be submitted to DMCC within six weeks after getting name reservation.
Following are the main advantages of doing business in Gold and Diamond Park.
The Middle East is renowned for petroleum and precious metals. Both are exported around the world, strengthening the economy of the countries. Considering the wide opportunities and growth prospects, gold and diamond trading could be a prolific business option in the UAE. Many of the expat entrepreneurs explored the lucrative world of gold trading and reaped a fortune. Obtain a gold trading license in Dubai
UAE has a total of eleven gold refineries with a majority located in Dubai. Investors have several options while looking for a Gold Trading Business in Dubai.
Considering the robust infrastructure and ecosystem that support Gold Traders in the UAE, below are the best given choices for gold investors seeking a gold trading license in Dubai:
Gold & Diamond Park is located along Sheikh Zayed Road. It is the home of over 90 leading retailers of gold and jewelry, 118 purpose-built manufacturing blocks, and 350 offices. It provides all the conveniences of a shopping mall while offering 100 percent expat ownership.
While still located in the core of Dubai, Gold & Diamond Park falls under the jurisdiction of Jebel Ali Free Zone Authority (JAFZA). You will need to get a license from JAFZA who has worked to simplify the process to get a gold trading license. In summary, you get the coveted benefits of being within a free zone while located in a commercial district.
We at BCM Corporate services LLC, extend our quality services to our clients with well experienced & qualified Business consultants with rich expertise in document attestation Services in Dubai so Offshore Business Formation set up that client’s requirements of Business setup in Dubai. can be completed on time with satisfactory Results outcome. Please feel free to reach us for your Business setup and Bookkeeping and Accounting Firms in Dubai requirements on our email id: info@branches.ae or call us on +971502585921
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