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GOLD TRADING LICENSE IN DUBAI

The United Arab Emirates is a global hub for trade with direct links to every corner of the world, making it one of the better places to start a trading business. From electronics, car parts, spices, textiles to much more extravagant items, trading is increasingly booming in the UAE. But there is one particular traded commodity in this part of the world that has outshone the rest, it is gold.

According to the UAE Federal Customs Authority, the import of gold in the UAE was valued at AED 142 billion, while the value of exports amounted to AED 76 billion annually. Dubai has a significant share in the UAE’s gold trade. It has historically been a hub for gold traders from around the region and beyond, giving it the title as the City of Gold.

As recently as October last year, the UAE government outlined plans for a federal gold trading platform in a move aimed at further enhancing the country’s standing as a hub for gold trading.

How to Avail of the Gold Trading License?

There are several options for investors looking for a Gold Trading license, but for robust infrastructure and ecosystem, the best options will be the three areas with the highest concentration of gold traders:

  • DMCC
  • Dubai Gold & Diamond Park
  • Dubai’s DED

The Process of Obtaining the License

Gold Trading License through DMCC

The following needs to be prepared in order to obtain this license in the most efficient way:

  • Application for Initial Approval
  • Find a suitable Business Location
  • Select a suitable Trade Name (to be followed by General Trading, L.L.C.)
  • Choose Business activities: It is to be involved in the business license (a maximum of 10 per license)
  • Apply for the DED to get the license.

For a businessman who wants to engage in the business of import and export in the UAE like clothes, electronics, furniture, and many other accessories, or multiple commodities trading, he/she must obtain a general trading license. To get to know more of the process for applying for a general trading license, Tawakal Services offers free consultations. To setup an appointment, click here.

Please feel free to contact us throughout are available contact channels. To get to know also about company formation or business setup in Dubai and the UAE, follow the link here.

© All Rights Reserved. | Tawakal Accounting & Bookkeeping | Office no. 106, Ontario Tower, Business Bay, Dubai

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