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How to get a license to trade gold in Dubai, UAE

How to get a license to trade gold in Dubai, UAE

Dubai is known as the “City of Gold” as it accounts for 25% of the global trade in this precious metal. In times of financial instability and inflation, gold has historically maintained its value, making it a preferred asset for financial institutions and reserve banks around the world. After oil and tourism, the gold sector is one of the most lucrative sources of income in the country.

When registering a company in a free economic zone, you can consider DMCC. They offer high production facilities and plenty of commercial real estate. Opening on the mainland makes it possible to trade in the famous Dubai Gold Market. Exquisite craftsmanship attracts locals and visitors alike here, contributing to the high demand for luxury gold and diamond jewelry in the UAE.

There are several retail or wholesale options to consider in this industry. Moreover, the purity of gold is a critical factor in the trade. To maintain high quality products, Dubai has its own accreditation system for establishments, the Dubai Good Delivery Standard, based on international standards.

Let’s note the basic steps to register a business:

1. Approval of the chosen name by Dubai government authorities.

2. Selection of the company structure and its location.

3. Obtaining a business license.

4. Obtaining certificates and external approvals from regulatory authorities.

5. Issuance of a resident visa to the founder.

6. Opening a bank account for the organization.

The gold market in Dubai is expected to experience significant growth, buckled by the purchasing power of expat communities and the government’s efforts to strengthen the Emirate’s status as a leading gold center. This presents a huge opportunity for investors and entrepreneurs. Book a free consultation with Makebiz experts and find out how to get a gold trading license in Dubai.

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