How to Start a Gold Trading Business in Dubai

Dubai hosts a lot of foreign entrepreneurs in the UAE who walk from around the world to be a part of the lucrative economy of this nation. From Dubai work visas to becoming entrepreneurs, people are finding ways to be a part of this hub of innovation and technology. While there is a lot of scope for new business ideas in Dubai, one old-age business that still seems to be a profitable option is trading in gold. UAE, being one of the most prominent names in the industry, attracts a lot of willing investors.

Thus, we will be using this blog to explain the gold trading business in Dubai and the method using which you establish your own company in the Emirates. Let us start by gaining some knowledge of the industry and its trends.

Gold Trading Business in Dubai

Since the early 1940s, when the city became a vital trading port, Dubai has been linked to the gold trade. Due to its advantageous location between the East and the West, Dubai has become a popular place to import and export gold over the years. Today, the city’s famous Gold Souk in Deira is home to one of the biggest gold trade markets in the world.

Importance of Gold Trading License in Dubai

For every company working in this industry, obtaining a gold trading license in Dubai is essential. It minimizes legal risks and penalties by ensuring adherence to local laws and regulations. Additionally, the license grants access to vital services that are necessary for efficient business operations, such as insurance and gold storage. Furthermore, it also requires adherence to Anti-Money Laundering (AML) laws, protecting against illicit activity, and bolstering Dubai’s standing as a safe trading destination.

How to Start Gold Trading Business in Dubai?

For a gold trading company formation in Dubai, you are required to follow the following steps.

1. Business Plan:

Create a thorough business plan that details your objectives, target market, financial forecasts, and operational plans. Your company decisions will be guided by this blueprint.

2. Pick a Business Structure in UAE:

Taking ownership and liability into account, pick the best business structure, such as an LLC, partnership, or sole proprietorship. 100% foreign ownership and tax benefits are provided by free zone businesses.

3. Choose a Prime Location:

Take into account elements like foot traffic, visibility, and leasing rates when deciding on a prime location for your company, such as the Gold Souk, DMCC, or Gold & Diamond Park.

4. Obtain Required Licenses and approvals:

If you are doing business on the mainland, get a gold trading license from the Department of Economic Development (DED) or the appropriate free zone authorities. Please note that gold trading in Dubai may need approval from the Security Industry Regulatory Agency (SIRA).

5. Secure Funding:

Obtain the required funds by looking for investors, taking out loans, or investing yourself.

6. Respect Regulations:

Comply with all applicable laws and rules, which includes keeping correct records and carrying out frequent audits.

7. Develop a Solid Network:

Make connections with clients, vendors, and other business leaders.

You can start and expand your gold trading business in Dubai by following these guidelines and abiding by all legal and regulatory requirements. Or you can get in touch with Dubiz business setup to get guidance to form a gold trading company in Dubai.

Documents needed for gold trading company license

To get the gold trading company license, you will generally need the following documents:

• Application form
• Passport size photographs
• Passport and visa copies of owner/shareholders
• CV of the manager
• Trade name registration certificate
• Initial approval certificate
• Attested articles of company
• Tenancy contract, if any
• Other documents as may be asked

For more documentation help, you can contact our experts at Dubiz Business Setup.

Popular locations for gold trading business in Dubai

Essentially, you get to choose from three main locations where you can set up your gold trading company in Dubai:

1. Dubai mainland – Gold Souk

You can get the gold trading license from the Dubai Economic Development (DED) and operate in Gold Souk Market in Deira. Starting a company on Dubai mainland gives you the advantage of conducting business across the UAE.  There are more than 380 retailers, majority of them being gold traders, already established in Dubai Gold Souk. The market’s top notch geographic location also makes it ideal for exporting and importing gold and precious metals.

2. DMCC freezone

The Dubai Multi Commodities Center (DMCC) is a freezone located in the Jumeirah Lake Towers district of Dubai, UAE. The freezone hosts companies involved in the trading of gold, diamonds, precious metals and more. Already home to hundreds of multinationals, the freezone offers the perfect facilities and environment for success of a gold trading company. The license here would be issued by the zone’s respective government authority.

3. Dubai Gold and Diamond Park:

Governed by Jebel Ali Freezone Authority, Dubai Gold and Diamond Park is a perfect destination for trading world’s finest jewellery, gemstones, precious stones and gold. Located on the Sheikh Zayed Road, the zone offers exclusive benefits like 100% business ownership, tax incentives, hiring of expat workers, and wide business license options.

Benefits of getting a gold trading business in Dubai

There is a wide range of advantages to company formation in Dubai, especially the one that deals with gold. Here is a closer look at the benefits of the gold trading business in Dubai.

• Strategic Location: A lot of gold purchasers are drawn to Dubai because of its strategic location and status as a major international tourist destination.
• Good Tax Environment: Dubai provides a tax-friendly environment with advantages such as low VAT rates on gold transactions and tax exemptions in free zones.
• High Liquidity: The ease with which gold may be converted into cash reduces the risk associated with investing in it.
• Robust Infrastructure: The gold trading business is supported by Dubai’s top-notch infrastructure, which includes safe storage facilities.
• Business-Friendly Environment: With access to a highly qualified workforce and a robust legal system, Dubai offers a business-friendly environment.
• 100% Foreign Ownership: Even if you are a foreigner, Dubai allows you to own 100% of your company. All you have to do is abide by the rules that the government has established.

Cost of gold trading license in UAE

AED 20,000 to AED 30,000 may be needed as an investment to obtain a gold trading license in Dubai. Government approvals, office space, and visa fees are some of the variables that affect costs.

For a more precise estimate depending on your unique needs, it is better to get in touch with one of our experts. They can give you a free, customised quote that takes into account all the crucial elements needed to launch your gold trading company in Dubai.

Dubiz Business Setup

From the ins to the outs, our experts at Dubiz Business Setup help anyone willing to get their hands on the lucrative economy of the UAE. From assisting you with your Dubai business visa to helping you start a business in Dubai, we have it all for you.

So, if you are someone who is interested in this nation of opportunities, get in touch with us. You can contact us at

📞 Call: +971 56 369 5485

💬 WhatsApp: +971563695485

📧 Email: info@dubiz.co

Frequently Asked Questions (FAQs)

1. Do we need a gold license in Dubai to own gold?

You do not need a gold license in Dubai to own gold, but if you are planning to start a gold business in UAE, then you are required to get a gold trading license in Dubai. To get the license, you need to follow some predefined steps.

2. Is the gold business in Dubai a profitable business idea?

In Dubai, gold trading is a very alluring and lucrative business. About 20% of the United Arab Emirates’ overall GDP comes from the gold sector, of which Dubai already accounts for the majority.

3. How to open gold shop in Dubai?

To open a gold shop in Dubai, you must get a gold trading license to legalise your business and remain out of trouble. At the same time, you are required to follow the guidelines established by the UAE government. Thus, we can conclude that to open a gold shop in Dubai, there is a predefined process that must be followed.

4. What is a gold import license Dubai?

A gold import license is a government authorization that gives people or companies the legal right to purchase, sell, and consume gold in a setting governed by UAE laws. This license serves as a precaution to adhere to the stringent guidelines that control the dealing of gold in Dubai.

5. How to do gold business in Dubai?

Starting a gold trading company in Dubai requires meticulous preparation and calculated choices. Here is a quick rundown of the procedures:

Learn for Yourself: Recognize the dynamics of the gold market, trading tactics, and price-influencing factors.

Establishment of the Business: Select the appropriate business structure, obtain the required licenses, and register with the governing authority.