Gold Trading Business Setup In Dubai
For fledgling businesses and even tycoons looking to expand their firm, Dubai’s precious metal market offers excellent chances for gold trading business setup in Dubai. The gold trading business in the United Arab Emirates has been growing for a long time, attracting dealers from all over the world.
The dealing of precious metals such as gold and diamonds is now one of Dubai’s most important imports. With a trading contribution of up to 20% of the UAE’s total non-oil exports, gold dealing in Dubai, as well as other precious metals and jewelry, is a significant part of the UAE’s economy.
If you want to start a gold or jewelry business in Dubai, there are a few things you should know and think about before putting up a solid plan.
Benefits Of Gold Trading Business Setup In Dubai
Several variables make it ideal for beginning gold dealing in the UAE:
- Gain complete control of your firm and maximize the benefits of your gold dealing business in free zones.
- You can withdraw all of your profits from your business activities as capital without paying any taxes.
- You are exempt from both company and personal income taxes.
- The advantages of a ‘always open’ firm are provided by 24/7 operational facilities.
- It is relatively simple to engage ex-pat workers with maximal government help. It does not necessitate a lot of paperwork.
- Almost always, you have easy access to all supporting operations and business amenities.
- You’ll never have to worry about the extreme temperatures in Dubai if you live in a centralized AC building.
- With ventilation systems and an acid waste disposal system, it provides an interesting work environment.
- Owners of gold trading or jewelry firms in Dubai are given with security guards 24 hours a day, seven days a week, as well as high-tech video monitoring and fire alarm systems in all units.
- Every ounce of gold produced and sold by Dubai Gold and Diamond Park is hallmarked.
- Shuttle services are available both inside and outside the facility.
- To deliver great services to your customers, you receive access to world-class retail center facilities.
Steps For Gold Trading Business Setup In Dubai
For a hassle-free method to receive your gold dealing license in Dubai, you must follow the steps listed below:
- Choose a Company Name
When starting a gold business in Dubai, choosing a catchy name for your firm is crucial. In your company name, avoid utilizing any offensive or complicated jargon or terms. Do not utilize the names of firms that already exist. If you’re named a firm after a person, make sure to spell out the person’s full name. When registering, make sure the name you choose is available. Shuraa’s business setup professionals can assist you with this stage.
- Apply for a Driver’s License
The application for a license is the second most crucial step in obtaining a gold trading license in the UAE. You can apply to the DED if you want to start a gold trading firm on the mainland of Dubai. If you wish to create a gold business in a Dubai free zone, you must first submit an application to the free zone’s managing authority.
You simply need to supply a few data and some basic papers, whether you create your application on your own or with the help of company formation specialists.
- Filled-out application form
- Copies of the owner’s and shareholders’ passports
- Two passport-size color pictures
- Request a Visa
You’ll need to apply for a visa after you’ve filed for your trade license. One each for you and your coworkers. There is a specific, yet simple technique to follow in order to do this. You can also sponsor others once you get your UAE company license. The maximum number of visas you can apply for is determined by the size of your business and the nature of your operations.