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Get Diamond & Gold Trading License in Dubai UAE

How to establish Dubai based Gold Business?

If the desire is to setup precious metals-related business in Dubai, then Dubai Diamond & Gold Park, Dubai Multi-Commodities Centre, or the Mainland will be the ideal places. Diamond & Gold Trading license cost in Dubai.

DMCC Free Zone

It was in 2002 that the Dubai Multi-Commodities Centre (DMCC) was established and located strategically opposite the Emirates Mall and Dubai Marina Beach. Being in JLT (Jumeirah Lake Towers), it does take full advantage of the available facilities and infrastructure. Although DMCC has earned a reputation as a popular trade and commerce hub for different types of ventures, diamond and gold trading, including other precious metal trading, is considered to be the main business here. World-class infrastructure and special incentives are offered by the Dubai government to encourage people to establish businesses in the free zone. Black Swan BSS will help in Diamond & Gold Trading license application process.

A few of the benefits derived from establishing gold and metal trading businesses within DMCC are:

  • 100 percent company ownership
  • No personal or corporate taxes
  • Total capital and profit repatriation
  • Well-built infrastructure
  • Round-the-clock entry to operational facilities
  • Secure business environment with 24/7 all-time security personnel, a fire alarm system, and video surveillance

DMCC setup process for Precious Metals Business

The incorporation procedure has been simplified by the Dubai government to promote trader growth in Dubai. But certain predetermined procedures are to be followed to establish gold business in the DMCC. Black Swan BSS can help you in step by step Diamond & Gold Trading license registration in Dubai.

Pre-Approval

This stage requires the submission of an application form to enrol a name with the free zone authority for the gold business. After this takes place, due diligence is required of shareholders or investors!

Registration

This stage involves the submission of relevant documents to register your company in the DMCC free zone. Given below are the documents essential to setting up a gold business here in DMCC:

  • Shareholder passport copies
  • Trade name proof
  • Proof of initial approval
  • Manager’s personal data sheet
  • Comprehensive business plan
  • MOA (Memorandum and Articles of Association) duly attested and notarized
  • Lease agreement
  • Power of attorney duly attested and notarized for legal representative

Licensing

Upon reviewing your documents, you are free to select the necessary license after paying a specific fee. A free zone license allows you to engage in trading in the specific free zone and even outside of the country, thereby avoiding restrictions.

Dubai Gold and Diamond Park

Set up in 2011, this park is an ideal destination for all jewellery lovers. This place boasts of having 90 leading retailers, including customised jewellery work. To manufacture gold along with other precious metals, this park allows investors to select a leased building. There is also an option to lease an office that comes with quality-driven, well-built infrastructure.

Some advantages derived from establishing Gold Trading Business within Dubai Gold and Diamond Park

  • Very little corporate taxes
  • 100% company ownership provision
  • 24/7 secured workplaces exclusively for gold traders
  • Dubai Municipality facilitated hallmarking.
  • 1-stop shop to manufacture, trade, and purchase jewellery and gold
  • A healthy working environment has adequate ventilation along with a waste disposal area.
  • Hiring expatriates is easy.

How Gold Business can be established in Dubai Gold and Diamond Park?

Setting up an establishment in Dubai Gold and Diamond Park is quite similar to other free zones here. The Jebel Ali Free Zone Authority has established specific procedures that require adherence. Below are the procedures to follow when starting a company in Dubai Gold & Diamond Park.

  • Fill up the initial approval application. Submit the same to JAFZA (Jebel Ali Free  Zone).
  • Prepare an agreement on rent payment with Gold and Diamond Park.
  • Submit to JAFZA the MOA and partnership deed.
  • A certificate will be issued by JAFZA to trade gold in Dubai. Submission of the same is essential for an authorised bank to open up an account.
  • Open a bank account to carry out further proceedings.
  • After receiving confirmation from the bank, the authority issues the final copy of the gold trade license in Dubai.

Types of Licenses Available in Dubai Gold and Diamond Park

The following business licenses are available to set up a business in the free zone:

Documents Required for Trading License in Dubai UAE

  • License application signed by the company managers or their legal representatives
  • Company name approval letter from DED
  • Passport copy of the partners and respective shareholders
  • A Memorandum of Association
  • Copy of fee payment receipt
  • Copy of the business plan

Benefits of Obtaining a Trading License

  • Handle local and international trade
  • Low import duty
  • Exposure to local and international trading provisions
  • Paid-up capital  Not Required
  • Employment visas can be applied for easily.
  • The process of company incorporation is simple.
  • Trade Multiple Categories of Products
  • Easy to sponsor dependents

Black Swan Business Setup Service can help you obtain a Diamond and Gold Trading License in Dubai, Abu Dhabi, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah, Fujairah, and the rest of the UAE. Get Diamond & Gold Trading license in Dubai.