How to obtain a gold trading license in Dubai
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.
Step one: Decide on your company name
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
Step two: Applying for your license
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:
- Completed application form
- Passport copy of the proposed owner or owners
- Two color passport size photos.
Step three: Applying for your visas
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.