March 30, 2025

Dubai isn’t called the City of Gold for nothing. It’s one of the largest gold trading hubs in the world, with an established reputation for transparency, security, and tax-friendly regulations. Whether you’re looking to start a gold trading business or expand your investment portfolio, getting a gold trading license in Dubai is your golden ticket to success. But here’s the thing! You can’t just wake up one day and start trading gold legally. You need a proper business setup, licensing, and compliance with UAE regulations. The process is straightforward but requires attention to detail. So, how do you get a gold trading license in Dubai? What does it cost? Let’s break it down step by step. Why Set Up a Gold Trading Business in Dubai? Before we jump into the licensing details, let’s talk about why Dubai is the best place for gold trading. Tax-Free Gold Trading: Dubai offers zero corporate tax and no VAT on gold investment-grade products, making it highly attractive for traders and investors. Strategic Location: Positioned between Europe, Asia, and Africa, Dubai is a global hub for gold imports and exports. Massive Market Demand: Dubai’s Gold Souk, DMCC, and Dubai Gold & Commodities Exchange (DGCX) ensure constant demand for gold trading. Secure and Regulated Market: With robust financial and regulatory frameworks, Dubai ensures gold trading remains transparent and protected. Types of Gold Trading Licenses in Dubai There isn’t just one way to start a gold trading business. Depending on your business model, you need to choose the right license type. Here are the main options: 1. Mainland Gold Trading License If you want to sell gold directly to consumers, import/export, or open a gold shop, you’ll need a mainland gold trading license issued by the Department of Economic Development (DED) Dubai. Allows retail sales, wholesale, and trading inside and outside the UAE. Requires a physical office or showroom in Dubai. No limitations on trade within the UAE. Best for: Jewelry shops, wholesale traders, bullion traders, and gold refining businesses. 2. Free Zone Gold Trading License If your focus is exporting, importing, or online trading of gold, setting up in a free zone is a great option. Popular free zones include: Dubai Multi Commodities Centre (DMCC): The most prestigious gold trading free zone in the UAE. Dubai Gold and Diamond Park: Best for jewelers and craftsmen. Sharjah & Ajman Free Zones: Cost-effective options for gold trading. Best for: Online traders, gold investment companies, and international trading businesses. 3. Dubai Gold & Commodities Exchange (DGCX) Membership If you want to trade gold futures and derivatives, becoming a member of DGCX allows you to participate in gold trading at an institutional level. ✔ Ideal for gold investment firms, large-scale traders, and commodity brokers. ✔ Requires higher capital investment. Step-by-Step Guide to Getting a Gold Trading License in Dubai Now, let’s get to the main part of how to actually obtain a gold trading license in Dubai. Step 1: Choose Your Business Structure Before applying for a license, you need to decide how you want to structure your company. Your options include: ✔ Sole Proprietorship: If you want full control of the business. ✔ Limited Liability Company (LLC): Best for partnerships and expansion. ✔ Branch of a Foreign Company: If you already have a gold business overseas. Pro Tip: An LLC is the most popular choice since it provides credibility and access to local markets. Step 2: Select a Business Location (Mainland vs. Free Zone) As discussed earlier, decide whether you want to set up in the mainland (DED license) or a free zone (DMCC, Jebel Ali, etc.). ✔ Choose mainland if you want to trade directly with the local market. ✔ Choose free zones if your focus is on import/export and international sales. Step 3: Get Initial Approval from Authorities To kickstart your business, you need to get initial approval from: ✔ Dubai Department of Economic Development (DED) (for mainland businesses). ✔ The respective free zone authority (if you’re setting up in a free zone). ✔ Dubai Gold & Jewellery Group (DGJG) approval may be required for gold retailers. Step 4: Reserve a Trade Name You need to choose a unique trade name that reflects your business. Keep in mind: ✔ The name must not include offensive or religious words. ✔ It must be available and not already registered. ✔ You must include “Gold Trading” in your company name to specify your business activity. Trade name reservation costs AED 620 – AED 720 depending on availability. Step 5: Secure Your Business License Once your approvals are in place, apply for your gold trading license by submitting: ✔ Passport copies of shareholders ✔ Business plan ✔ Ejari (rental agreement for office space) ✔ No Objection Certificate (NOC) if applicable The Dubai Department of Economic Development (DED) or your chosen free zone authority will issue the license after verifying the documents. Step 6: Lease an Office or Shop Space For mainland businesses, you must have a physical office or retail space. For free zone businesses, you can opt for a virtual office or flexi-desk to reduce costs. Office rent in Dubai starts from AED 15,000 per year for small setups. Step 7: Open a Business Bank Account A corporate bank account is essential for secure gold transactions. Top banks in the UAE for gold businesses include: Emirates NBD Mashreq Bank Dubai Islamic Bank Pro Tip: AB Capital Services provide the fastest business bank account opening in Dubai with the leading banks in Dubai. Costs of Getting a Gold Trading License in Dubai Here’s a breakdown of the estimated costs for setting up a gold trading business in Dubai: Expense Estimated Cost (AED) Trade Name Registration 620 – 720 Initial Approval Fees 1,200 – 2,000 Gold Trading License (Mainland) 12,000 – 15,000 Gold Trading License (Free Zone) 10,000 – 25,000 Office Space Rental (Annual) 15,000 – 50,000 Ejari (Lease Registration) 2,000 – 3,000 Bank Account Opening (Deposit Requirement) 10,000 – 50,000 Total Setup Cost AED 30,000 – AED 100,000+   Final