Dubai is widely known as the ‘City of Gold’, attracting traders, investors, and tourists worldwide. As a global gold trading hub, the gold of Dubai plays a crucial role in the UAE’s economy, contributing significantly to non-oil exports. If you’re considering launching a gold trading business, understanding the gold market regulations and licensing requirements is essential.
Overview of the Gold Business in Dubai
Dubai’s gold market is one of the most lucrative in the world. With its strict regulations, world-class refineries, and thriving gold souks, Dubai offers a secure and profitable environment for gold traders. The gold of Dubai is internationally recognized for its purity, attracting global buyers and investors.
How to Get a Gold Trading License in Dubai
To legally trade gold in Dubai, you must obtain a gold trading license by following these six key steps:
Step 1: Partner with Dubai Business Service
The first step in launching your gold trading business is to collaborate with Dubai Business Service. Our team of experts will handle company registration, gold trading license application, and all required government approvals to ensure a smooth setup process.
Step 2: Choose a Business Name- Gold of Dubai
Selecting a compliant business name is crucial. Your company name must adhere to the UAE’s regulations, avoiding any offensive terms or references to Allah or Islam. If you plan to include a personal name, it must be used in full (not initials or surnames).
Step 3: Select Your Business Activities
Gold trading licenses must clearly define the business activities you plan to undertake. Failure to list all relevant activities may result in penalties. The Dubai Department of Economic Development (DED) provides a comprehensive list of approved business activities.
Step 4: Choose a Business Jurisdiction- Gold of Dubai
Your business setup type determines your license type:
- Mainland Company: Allows direct trading within the UAE but requires a local sponsor to hold 51% ownership.
- Free Zone Company: Provides 100% foreign ownership, tax benefits, and simplified setup but requires additional approvals to trade in the local UAE market.
Not sure which is best? Dubai Business Service can help you determine the ideal setup for your gold trading venture.
Step 5: Apply for a Gold Trading License- Gold of Dubai
Once your company name and jurisdiction are confirmed, the gold trading license application can be submitted to the relevant government authorities. Our experts at Dubai Business Service ensure accuracy and efficiency, preventing unnecessary delays.
Step 6: Open a Corporate Bank Account- Gold of Dubai
After securing your gold trading license, you must open a corporate bank account to manage transactions securely. You may also apply for UAE residency visas for yourself and employees.
Cost of Starting a Gold Trading Business in Dubai
The cost of obtaining a gold trading license in Dubai ranges from AED 20,000 to AED 30,000, depending on factors like visa requirements, government approvals, and office space.
For an accurate cost breakdown, contact Dubai Business Service today.
Is the Gold Business Profitable in Dubai?
Yes! Gold trading accounts for over 22% of Dubai’s non-oil exports, with a thriving market of over 400 gold shops. Gold investment in Dubai is stable and highly lucrative, thanks to government-backed regulations ensuring gold purity and pricing stability.
Why is Gold Cheap in Dubai?
Dubai’s gold prices are relatively low due to government regulations that eliminate additional taxes on gold. Unlike many countries, the UAE does not impose customs duties or hidden charges, making it a top destination for gold buyers and traders.
Do You Need a License to Sell Gold in Dubai?
Yes. All gold trading businesses in Dubai must obtain a valid gold trading license before engaging in gold import, export, and retail activities.
Start Your Gold Trading Business with Dubai Business Service
Setting up a gold trading business in Dubai can be a seamless process when you partner with Dubai Business Service. Our specialists handle trade license applications, visa processing, government approvals, and corporate banking setup—ensuring your business is fully operational in no time.
Get in touch today for a personalized consultation and kickstart your journey in the thriving gold of Dubai market!
