Gold trading business in dubai

Last updated on July 13, 2022

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Gold trading business in Dubai

One of the clear valuable business in UAE is the business of gold; diamonds and other commodities trading (trade listed goods like oil and oil products, grain, colored metals; and manufacturing raw materials, food goods as well as textile raw materials etc.) But in this area our key concern is Gold trading business in dubai.

The business of Gold under the Gold trading business in dubai can be made within the UAE; and outside of UAE. What is very important; without restraint from the nature of activity – inside or outside of the country; the tax production of these firms remains the same.

How to start gold business in Dubai

Mostly the suitable kind of company for trading with diamonds; gold and other materials (exchange listed goods) in Dubai; there are largely three areas where someone can form a Gold trading business in dubai.

  1. The foremost is DMCC Free Zone area for Gold trading business in dubai.
  2. The Diamond & Gold Park is the 2nd part for Gold trading business in dubai.
  3. Mainland of Dubai is the third choice for Physical gold trading Dubai.

The cost of such company depends on the quantity of manufactured goods, commodities, categories as well as the amount of visas for company’s shareholders and staff.

How to start gold business in Dubai DMCC Free Zone

DMCC free zone serves the entire gold value chain; from discover and enhancement to investing as well as trading. A decade or so reverse; Dubai was name as the City of Gold owing to its important Gold market. But from the time when DMCC has setup a devoting and matchless road and rail network and services; the quantity of gold trade in Dubai has been get higher. At the present time about 25% of Gold trade are in DMCC Free Zone.

There is no other gold hub in the world that offers such a matching industry for gold as well as diamond. Innovations surround: the Dubai Gold and Commodities Exchange (DGCX), a buy and sell finance product, DMCC Trade run; also Sharia-compliant get around fund product; also a regional gold trading choice and the Dubai Good Delivery Standard; the only international standard for 1kg gold bars of .995 purity.

How to start gold business in Dubai DMCC Free Zone

As an instruction in this article we will talk about the formation of company in DMCC free zone. We will present you a brief summary of the procedure and rule for the formation of company; rough plan also an estimation of the total operating cost; and the total quantity of time taken for the formation of a Company.

 Incorporation Process of a Gold trading business in Dubai

The setup process of Gold business in Dubai is divide into three (3) stages; The Pre-Approval Stage is a primary stage; secondly the Registration phase and the Licensing Stage is final stage of the process.

The Pre-Approval Stage of Gold trading business in Dubai

In respect to setup a business in Dubai under DMCC; it is vital to acquire a pre-approval by compliance of a name reservation Form to DMCC. In this stage the authority reserves the name of the Gold business in Dubai; and enables DMCC to carry on due thoroughness of the investor of the Company. The Pre-Approval and name reservation of the company takes generally 5 to 7 working days.

Registration Stage for Gold trading business in Dubai

Once due diligence of the shareholder is complete; after that registration phase takes place; in which the registration of Gold trading Dubai is setup. You will submit all the essential documents to DMCC within six weeks after getting name reservation.

Licensing Stage

This is the last and final stage and it needs you to submit a tenancy contract. Once you submit your tenancy contract; you will get the “Trading License”. The Gold trading business in Dubai would allow the Company to trade; that is in all kinds of considerable gold within the DMCC Free Zone and in other countries; that is outside the UAE without any restrictions.

If it is wish to trade within the UAE main land; then there are two major ways for doing so:

Initial to trade directly with an LLC company that has an import export license? As part of the circumstances of trade they would clear all supplies through customs; or

Secondly the Company might go into a contract with a logistics company; that would obvious the goods and bring it to the mainland.

Signing of Tenancy Contract and Office Space

Once you put forward, it would take additional ten (10) to twelve (12) working days; to get the Trade License and additional constitutional papers of the Company.

JLT is the place where offices for DMCC companies are accessible for sale and for rent as well. Concerning 29 buildings are present to have room for profitable customers.