How to Obtain a Gold Trading License in Dubai – Costs & Steps

Dubai is famously known as the “City of Gold” and for a good reason. The emirate plays a leading role in the global gold trade, handling nearly 25% of the world’s gold trade annually. With bustling markets like the Dubai Gold Souk and top-notch trading hubs like the Dubai Multi Commodities Centre (DMCC), Dubai is the go-to destination for anyone looking to succeed in the gold business.

If you want to trade gold in Dubai, you’ll need a Gold Trading License. Gold trading license in Dubai isn’t just a formality – it’s your ticket to legally buy, sell, import, export, and store gold while building trust with customers and business partners.

The good news? Dubai makes it incredibly easy to start and grow your gold trading business. The city offers a tax-free environment, a smooth company setup process, and access to some of the world’s largest gold markets.

What is a Gold Trading License in Dubai, UAE?

A Gold Trading License in Dubai is a legal document issued by the relevant authorities, such as the Dubai Department of Economic Development (DED), Dubai Multi Commodities Centre (DMCC), or Dubai Gold & Diamond Park, that allows businesses to engage in gold-related activities.

Gold trading license in UAE is mandatory for individuals and companies looking to operate in the gold trade sector, whether for local sales or international transactions.

Why Choose Dubai for Gold Trading Business?

Here are some key reasons why Dubai is the perfect destination to establish your gold trading business:

1. World-Class Infrastructure

Dubai offers state-of-the-art facilities for gold trading, including the famous Dubai Gold Souk, DMCC’s modern trading platforms, and secure storage facilities. These resources ensure your business operations run smoothly and efficiently.

2. Transparent Regulations and Business Support

The UAE government has implemented clear, business-friendly policies to support the gold trade. This includes transparent licensing processes, robust anti-money laundering regulations, and initiatives like the UAE Good Delivery Standard to ensure the purity and authenticity of gold.

3. Strong Reputation and Trust

Dubai’s reputation as a gold trading hub ensures trust and credibility for businesses operating here. The “Made in Dubai” hallmark is widely recognized and valued by global customers.

4. No Import or Export Duties on Gold in Free Zones

If you operate your business in one of Dubai’s free zones, like DMCC, you can benefit from zero import and export duties on gold. This gives you a competitive edge by reducing operational costs and ensuring smoother international transactions.

5. Growing Demand for Sustainable Gold

Dubai is increasingly focusing on sustainable and responsibly sourced gold. Businesses that deal in ethically sourced gold find Dubai’s market particularly appealing, as there is growing demand for eco-friendly and conflict-free gold.

6. Ease of Business Setup

Dubai offers a hassle-free company formation process, making it easy for entrepreneurs and investors to set up their gold trading businesses. Free zones like DMCC provide additional incentives such as affordable licensing packages and access to a network of global gold traders.

Activities Covered Under a Gold Trading License:

A Gold Trading License in Dubai allows businesses to perform a wide range of activities, including:

• Buying and selling gold locally or internationally.

• Importing raw gold or finished jewellery into Dubai and exporting gold to global markets.

• Storing gold in secure facilities, often within free zones like the DMCC.

• Engaging in refining and processing raw gold (if additional approvals are secured).

• Operating physical stores or online platforms for selling gold jewellery, bars, and coins.

Who Can Apply for a Gold Trading License in UAE?

1. Entrepreneurs or sole proprietors can apply for a Gold Trading License to start a small-scale gold trading business or boutique.

2. Two or more partners can jointly apply for the license and establish a gold trading company.

3. Existing businesses or newly formed companies can also apply for the license, including local, regional, or international entities.

Dubai also allows 100% foreign ownership for companies operating in free zones, such as the Dubai Multi Commodities Centre (DMCC) or other gold-specific zones.

How to Get Gold Trading License in Dubai, UAE?

To get a gold trading license in Dubai you need to follow this step-by-step process:

1. Choose Your Business Jurisdiction

Decide whether to operate your gold trading business on the mainland or in a free zone.

• Mainland: Offers access to local and international markets.

• Free Zone (e.g., DMCC): Provides benefits like 100% foreign ownership, tax exemptions, and streamlined trade facilities.

2. Decide on the Business Structure

Choose the legal structure for your business, such as:

• Sole Proprietorship

• Limited Liability Company (LLC), most popular

• Partnership

This decision affects ownership rights, liability, and taxation.

3. Select and Reserve a Trade Name

Choose a unique trade name for your business that complies with UAE naming regulations. Submit the name for approval through the Dubai Department of Economic Development (DED) or the free zone authority.

4. Secure a Physical Office or Workspace

For mainland businesses, lease a physical office space in Dubai. For free zone businesses, you can opt for shared or virtual office spaces offered by the free zone. Obtain a tenancy contract (Ejari) or workspace agreement as part of the licensing requirements.

5. Apply for the Gold Trading License

Submit your application along with the required documents to the DED or the relevant free zone authority. Pay the required fees, which vary based on jurisdiction and business size. Authorities will review your application and issue the Gold Trading License upon approval.

6. Register for VAT (if applicable)

If your business expects an annual turnover exceeding AED 375,000, register for Value-Added Tax (VAT) with the Federal Tax Authority (FTA).

7. Obtain Additional Permits (if required)

Depending on the nature of your activities, you may need additional approvals or permits:

• Dubai Customs Clearance: Required for businesses involved in gold import/export.

• DMCC Permit: For gold storage or large-scale transactions within DMCC.

• Additional Regulatory Approvals: For refining or processing raw gold.

8. Start your Gold Trading Business

Once the license is issued, you can:

• Open a corporate bank account in Dubai for seamless transactions.

• Hire staff and apply for their visas if needed.

 You’ll also gain access to facilities like the Dubai Gold Souk, Dubai Gold & Commodities Exchange (DGCX), and other market platforms.

Gold Trading License in Dubai Requirements

The following documents are commonly required:

• Passport copies of all shareholders and managers

• Entry stamp or visa copy for foreign investors

• Certificate of Incorporation and Memorandum of Association (MOA)

• Board resolution for branch offices

• Shareholder agreements for LLCs

• Trade Name Certificate

• Initial Approval Certificate

• Tenancy/Ejari Contract

Gold Trading License in Dubai DMCC

The Dubai Multi Commodities Centre (DMCC) is a globally recognized free zone and a top choice for setting up a gold trading business. Known as the heart of Dubai’s gold and commodities market, DMCC provides world-class infrastructure, a robust regulatory framework, and unparalleled benefits for gold traders.

DMCC operates the Dubai Gold and Commodities Exchange (DGCX), a leading international exchange for trading precious metals, including gold. The DGCX allows businesses to access international markets, providing exposure to a diverse range of gold trading options.

Activities Covered Under a DMCC Gold Trading License:

• Import and Export: Seamlessly trade gold across international borders. 

• Wholesale and Retail: Conduct large-scale or smaller transactions in gold and other precious metals. 

• Refining and Processing: Add value through purification and crafting. 

• Storage and Distribution: Utilize DMCC’s secure vaults and logistics facilities. 

How to Apply for DMCC Gold Trading License?

1. Select the primary and secondary activities related to gold trading, such as wholesale trading, refining, importing/exporting, and storage.

2. Provide shareholder details and selected business activities. Receive initial approval from DMCC.

3. Choose an office space in DMCC (flexi-desk, physical office, or warehouse). Sign the lease agreement as part of the license process.

4. Pay the applicable registration, licensing, and office rental fees.

5. Upon approval of all documents and payment of fees, DMCC will issue your Gold Trading License.

6. As a DMCC member, gain access to DGCX for trading physical and derivative gold contracts.

The cost of gold trading license in Dubai DMCC starts at approximately AED 30,000 to AED 50,000, depending on factors like type of business activity and office space requirements.

What is the Cost of Gold Trading License in Dubai?

The cost of a gold trading license in Dubai typically ranges from AED 20,000 to AED 30,000. However, the final price can vary significantly based on the type of license, location, office requirements, and the legal structure of the business.

Approximate Costs:

License Fees: AED 20,000 – AED 30,000 (for a basic license).

Office Space:

A small office space in Dubai can cost anywhere between AED 20,000 to AED 50,000 annually, depending on the location. For larger commercial spaces, the cost can be significantly higher.

Additional Costs:

• Visa Costs: Depending on the number of visas required, costs range from AED 3,000 – AED 7,000 per visa.

• Trade Name Registration: AED 620 – AED 2,000, depending on name availability.

• Other Charges: Document attestation, notary, legal fees, etc.

These costs provide a general idea, but the final amount can vary depending on specific business requirements and the scale of operations. For a more precise estimate, it’s advisable to consult with our business setup consultant.

How Shuraa Can Help You Obtain a Gold Trading License

Obtaining a Gold Trading License in Dubai comes with many benefits, including access to a global market, tax advantages, and a secure business environment. Whether you choose to set up on the mainland or in a free zone, the process is straightforward but requires attention to detail.

At Shuraa, we make this process easier for you by providing full support with documentation, registration, and approvals. We offer customized solutions for both Mainland and Free Zone setups, ensuring that you can focus on growing your gold trading business while we take care of the licensing.

Let us help you start your journey toward a successful gold trading business in Dubai. Get a free consultation today at +971 4 4081900, WhatsApp at +971 50 7775554, or [email protected].

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