Dubai is known for two types of gold one is black gold (Petroleum and crude) and the other is yellow gold (decoration gold). Many expats were attracted towards the yellow shining of the gold market of Dubai and started dreaming of starting his own venture. It has been popular as a gold hub since ages. We have seen in history that gold prices are increasing and never hit zero price. It is a highly profitable yet more risky business. If you have knowledge and skill of this gold trading business, then Dubai is the best option for your start-up. Online sale of gold is also possible, only you must apply for the e-commerce license.
Dubai Gold and Diamond Park
It is a free trade zone and comes under the jurisdiction of Jebel Ali Free Zone. Jebel Ali Free zone is the issuing authority to issue Gold Trading License for Dubai Gold and Diamond Park. It consists of both Retail as well as manufacturing units. After fixing the physical space (retail or manufacturing unit) at the Gold and Diamond Park you get a lease agreement, and this agreement must be submitted to JAFZA for the Certificate of Incorporation. Manufacturing units available from 333 sq.ft. to 1,900 sq.ft. Retail shops available from 1000 to 7000 sq.ft. Minimum share capital is required to start a gold trading business.
Minimum Share Capital of at least AED 150,000 is required to start a gold trading business.
Step 1. Get a lease agreement of your selected units.
Step 2. Submit application for the license with the required documents (copy of Passport and visa, MOA, AOA, copy of lease agreement, License fee paid receipt) to JAFZA in Dubai.
Step 3. Get Certificate of Incorporation letter which is helpful in opening a bank account in Dubai. Deposit the minimum share capital as per your license demanded by the Government Authorities.
Step 4. Collect the business license by submitting a letter of confirmation to JAFZA.
DMCC is an award-winning free zone in Dubai. There are many business activities available related to gold, silver, and other precious metals. Select suitable activity matching to your business, then select property type (either, workshop, industrial plot, or any physical office), Take special approval (EIAC (Emirates International Accreditation Centre), SIRA (Security Industry Regulatory Agency), Roads and Transport Authority) if your selected business activity is needed. IF you choose a flexi desk facility then SIRA approval is not needed.
Minimum Share capital required is AED 50,000
Express your Interest (Contact DMCC take reference number and Apply Online advisable to take Business Consultant help https://alyaauditors.com/
Step 1. Pre-Approval Stage (By log in to DMCC portal, fill up all the information with pre approval payment and submit the application)
Step 2. Registration (Upload third party NOC if required, select the financial year and VAT services, pay all the required fees for Lease, License, Flexi desk (if selected), AOA, Establishment card etc)
Step 3. Licensing (Upload all the documents such as Third-party NOC (if any), Bank Letter, Property documents etc.)
Step 4. Post Licensing (within 1 one month from the date of license issued upload the Bank statement showing share capital amount deposited, share certificate, Stamped Company Letterhead etc)
Dubai Mainland: – You can start your business from Dubai mainland also there is no need for the local agent. If you are interested to start in Dubai Mainland, then Gold Souk is the best option for the same.
If you are experienced and interested in the gold trading business in Dubai. Contact us https://alyaauditors.com/ for setting up your dream business. Our dedicated team will be in your support throughout your journey.