Dubai, often called the City of Gold, has long been a global hub for the gold and precious metals. With gold prices soaring to record high, this is the incredible opportunity for entrepreneurs and startup business owners to start a gold business in Dubai, UAE. Whether you’re looking to start gold trading business or establish a retail store in the Dubai Gold and Diamond Park Freezone, this guide is for you. From understanding the market condition to selecting the right business structure to availing gold license in Dubai, the experts of business setup in Dubai are going to discuss all the details from A to Z.
Why Start a Gold Business in Dubai?
Dubai, home to one of the largest trading hubs in the world, offers multiple perks including – selling gold rate much closer to the international gold rate, tax-free trading, world-class infrastructure, and government-backed transparency. Here’s why entrepreneurs are turning their attention toward gold business Dubai setups now more than ever:
Skyrocketing Gold Prices: The global rise in gold prices has boosted investor confidence. With gold viewed as a safe asset amid inflation and economic uncertainty, more buyers & investors are turning to physical gold investments, as well as starting a gold trading business.
Strategic Global Location: Dubai sits between major gold-producing and gold-consuming regions, making it an ideal transit and trading point.
Tax Advantages: Businesses in the Dubai Gold and Diamond Park Free Zone and other free zones enjoy 0% corporate and personal income tax, along with full profit repatriation.
Types of Gold Businesses You Can Start
Before you start business setup in Dubai, it’s essential to identify the type of gold business you intend to do, whether it’s import & export or a retail store. Each category comes with unique licensing and compliance requirements:
Gold Trading: Buying and selling gold bars, bullion, and coins locally or internationally.
Gold Retail Shop: Setting up a physical store in locations such as Deira Gold Souk or Gold & Diamond Park.
Gold Import/Export: Trading gold between Dubai and other global markets.
Gold Refining: Establishing a refinery for purification and processing.
Gold Jewellery: Manufacturing: Producing and designing gold ornaments for wholesale or retail.
Step-by-Step Process to Start a Gold Business in Dubai
Choose the Right Jurisdiction
In Dubai, you can set up your gold business either as a mainland company setup or in a free zone. If you’re planning to open a retail store in busy areas like Deira Gold Souq, then you can prefer a Dubai mainland license. Many of the gold traders UAE prefer the Dubai Gold and Diamond Park Free Zone, as it provides a secure environment, excellent infrastructure, and direct access to regional and global markets. Analysing both the options, our business consultants in Dubai will come up with the right jurisdiction for your gold business in Dubai, UAE.
Select a Business Structure
Depending on your business goals and the jurisdiction you choose, you can register your gold trading company as:
Sole Proprietorship
Limited Liability Company (LLC)
Civil Company
Free Zone Company
LLC structure is often advised for gold traders UAE, due to its credibility in both local and international trade.
Obtain Initial Approval for Gold Business
After finalizing the business structure and jurisdiction, our business consultants will apply for the initial approval from the Department of Economic Development (DED) or the relevant Free Zone Authority.
The documents required for setting up a gold business in Dubai include:
Passport copies of shareholders
Business plan
Proposed business name
Source of income certificate
Get Gold Trading License Dubai, UAE
After getting approval from the DED, you will receive your gold trading license. And this business license allows you to legally trade or manufacturing gold in Dubai.
Choose the Right Location
If you start a retail store, then location is very crucial. You can look for areas like Dubai Mall, Deira Gold Souk, and Gold & Diamond Park, as these are the prime spots due to high tourist foot traffic and a well-established network.
Comply with Legal and Security
The UAE follows strict regulations governing gold and precious metals. While running a gold business in Dubai, UAE, you must comply with:
AML (Anti-Money Laundering Laws)
Dubai Police Department
Dubai Central Laboratory (DCL) certification for product authenticity
SIRA Approval for installing security systems.
How Much Will It Cost to Start a Gold Business in Dubai, UAE?
The cost can vary based on the business structure, location, and activities. On average:
Free Zone Setup: AED 5,000 to AED 0,000
Mainland Setup: AED 15,000 to AED 20,000+
Shop Rental (in prime areas): AED 80,000 to AED 100,000 annually
Additional expenses may include insurance, staff salaries, and inventory.
Get Help from us to Start a Gold Business in Dubai
With gold prices at record highs, there’s never been a better time to launch your gold business in Dubai. Start with a solid plan, choose the right license, and partner with business setup consultants in Dubai – and you’ll be on your way to joining the ranks of successful gold traders in Dubai.
