The gold industry in Dubai has been thriving since the 1940s due to its free trade policies which have encouraged traders from all over the world. Gold trading is one of the leading imports in Dubai. If you are an entrepreneur who is willing to start a gold trading company in Dubai you need to follow necessary rules and regulations and obtain a license. Let us understand how to start gold trading in Dubai.
There are largely three areas where one can start a gold business in Dubai:
- DMCC Free Zone
- Diamond and the gold park
- Dubai Mainland
How to start a gold trading company in Dubai in DMCC free zone:
DMCC free zone is known for the gold business from discovery and enhancements to investing and trading. WIth the DMCC free zone for gold trading, the quantity of gold has been increased drastically. In order to start a gold business in Dubai there are three stages:
- Pre-approval stage
- Registration stage
- License stage
- Pre-approval stage:
The entrepreneur has to acquire pre-approval by complying with a name reservation form to DMCC, where the necessary authority reserves the name of the gold business in Dubai.
- Registration stage:
After the due diligence is complete the next step is the registration of gold trading in Dubai, for which you have to submit necessary documents to DMCC
- License stage:
To obtain a trading license you have to provide a tenancy contract and submit the necessary documents.
- Passport copies of the shareholders
- Proof of trade name
- Initial approval proof
- Notarized Memorandum and Articles of Association
- Lease agreement
Here’s why you should start a gold trading company in Dubai:
- Gold led economy:
Dubai is known as the city of gold and the purest form of gold is manufactured in the Middle-eastern region. Every tourist who visits Dubai is keen on buying gold in the form of biscuits, jewelry, etc. The gold industry is a thriving industry in Dubai
- Precious metals:
There are various other precious metals apart from gold which are diamond, platinum, etc. However, the gold hasn’t lost its value and is always in high demand.
- Tangible asset:
Dubai’s gold business is a tangible asset. While doing the gold trading business in Dubai you will get a clear check of purity of the gold.
- Mass market:
The demand for gold is not only in the Middle East but also has its scope abroad and international market such as India, Switzerland, UK, Hongkong, Singapore, China
- Diversifies your investment portfolio:
Investing in the gold industry uplifts your investment portfolio and builds a positive inclination towards business.
Start your gold trading company in Dubai with MSZ Consultancy:
Opening a gold business in Dubai can be challenging due to a lot of competitions. Provided the right amount of planning and execution opening gold trading in Dubai can be a lucrative business. Many investors are keen on investing in this sector in Dubai. So if you are planning to start a gold business in Dubai contact MSZ Consultancy. Our team of experts will assist you in starting the business and other necessary formalities.
Find out how much it cost you to setup your Dream Business
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