Getting a gold trading license in Dubai can be a profitable business opportunity for entrepreneurs and investors.
An Overview of the UAE Gold Industry
According to DMCC, there was over $129 billion worth of gold passed through Dubai in 2024. The gold market is predicted to cross $3 billion in 2029, and the UAE remains a strong contender in the gold and jewelry sector.
Advantages of a Gold License in Dubai
- Complete foreign ownership: Dubai allows 100% foreign ownership for most business activities on the mainland or in a free zone. Businesses can also repatriate 100% of their capital and profits.
- Regulated industry: The gold industry is regulated by the Ministry of Economy on the mainland. Every free zone has a different regulatory body. The Securities and Commodities Authority (SCA) oversees the commodities and trading platforms.
- Stable economy: The UAE maintains a politically and economically stable climate which makes them a safe option for entrepreneurs.
- Low tax obligations: There is no personal income tax in Dubai. Corporate tax is also only 9%, making business setup in Dubai a lucrative opportunity.
- Secure infrastructure: Gold trading businesses will get access to Dubai’s storage and vault solutions that are secure and modern.
- High tourist density: Dubai attracts thousands of tourists, a lot of whom are interested in visiting the Emirate’s gold markets.
What are the Locations for Gold Business Setup in Dubai?
Your business activity will influence your location choice, as mainland licenses are mainly issued for gold retail businesses. There are a few popular locations for starting a gold trading business in Dubai:
Gold Souq
- This mainland option is located in Deira, and has been in operation since the 1940s.
- It is a popular tourist spot, and is often called the “City of Gold’s heart.”
- There are over 380 stores in the Souq, offering jewelry and bullion from 18K to 24K gold.
- The prices at the Souq are in accordance with the international daily gold rate.
Dubai Gold & Diamond Park
- This Park is located on Sheikh Zayed Road, and has been in operation since 2001.
- It is a part of JAFZA (Jebel Ali Free Zone).
- There are over 90 retailers and over 120 warehouses at the Park.
- Customers can even design their jewelry and watch it being made at one of the warehouses.
- The prices at the Gold & Diamond Park follow the international daily gold rate.
DMCC (Dubai Multi Commodities Center)
- DMCC is a free zone located in JLT (Jumeirah Lake Towers) and has been in operation since 2002.
- The free zone handles over 25% of the world’s gold trading.
- DMCC houses the Dubai Gold & Commodities Exchange (DGCX) which deals with derivatives exchange.
- A DMCC gold trading license comes in wholesale, retail, bullion trading, precious metals categories.
| Feature | Gold Souq | DMCC | Gold & Diamond Park |
|---|---|---|---|
| Regulatory body | Department of Economy and Tourism (DET) | DMCC free zone authority | Emaar & JAFZA |
| Business activities | Retail shops, bullion trading, jewelry outlets | Wholesale, refining, bullion trade, global gold contracts | Retail shops, custom jewelry design, on-site manufacturing units |
| Office requirement | Physical shop lease in Gold Souq with Ejari | Flexi-desk, office, or showroom in JLT | Mandatory shop/office unit in the Park |
| Security approval | SIRA approval required (CCTV, alarms, storage) | DMCC internal compliance | Park management compliance |
| Target market | Tourists, walk-in buyers, wholesalers | Global traders, refiners, institutional buyers | Retail customers, tourists, bespoke jewelry clients |
| Special features | Historic trading hub | Access to Dubai Gold & Commodities Exchange (DGCX) + Dubai Good Delivery Standard | Modern mall-style shopping with 120+ manufacturing units |
| Best for | Traditional retail & bullion shops | International bullion trade & institutional gold trading | Jewelry brands, diamond traders, and custom design studios |
Types of Gold Trading Activities in Dubai
When you set up a gold trading business in Dubai, you can choose from different activities depending on your business goals:
- Wholesale trading: You can buy gold in bulk from refineries or international suppliers and sell it to retailers or jewelers.
- Retail trading: You can run a gold shop or jewelry outlet, usually in locations like the Gold Souq or Gold & Diamond Park.
- Bullion trading: You can trade in gold bars, coins, and bullion, often through free zones like DMCC.
- Refining: You can process raw gold into pure form and supply it to traders, jewelers, or bullion dealers.
- Import & Export: You can bring gold into Dubai or export it abroad. This is one of the most popular free zone activities.
- Brokerage: You can act as a middleman between buyers and sellers. This is usually done through licensed trading platforms.
How to Get a Gold Trading License in Dubai
A&A Associate offers end-to-end business setup services, and working with one of our consultants can make it easier to get a trade license in Dubai.
1. Choose a Location
- You can choose to set up in a free zone or on the mainland.
- You will need to conduct research on the industry and market trends, identify your target audience, and perform a competitor analysis.
- Free zones issue licenses for trading and import/export of gold.
- You can only get a mainland license for a gold retail business, as it requires a physical location.
2. Pick a Legal Structure
- Dubai mainland company formation offers structure options like sole proprietorship, partnership, LLC, civil company, or a branch company.
- Free zone company setup in Dubai includes Free Zone Establishment (FZE), Free Zone Company (FZCO), or an LLC (FZ LLC) as legal structure options.
3. Get Government Approvals
- You will need to apply for initial approval from the relevant free zone authority or the Department of Economy and Tourism (DET) for the mainland.
- You will also need SIRA (Security Industry Regulatory Agency) approval before applying for a trade license if your business activity involves physically trading gold or jewelry.
4. Apply for a Trade License
- You will need a gold trading license in Dubai to start your business.
- The license cost will depend on your business location.
- Free zones generally process license applications faster than mainland companies.
5. Open a Bank Account
- The last step of company formation in UAE is getting a corporate bank account.
- Our consultants can help you choose a bank, apply for a bank account, and prepare your paperwork.
What is the Cost of a Gold Trading License in Dubai?
It costs around AED 25,000 to AED 30,000 to get a mainland gold trading license, including:
- Trade name, initial approval, Memorandum of Association: AED 1,500
- SIRA NOC: AED 1,800
A free zone gold trading license will cost around AED 15,000 to AED 16,000, including all the necessary approvals.
Our cost calculator can help you get an estimate of your startup costs.
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