How to Start a Gold Business in Dubai, UAE

Gold has become the most discussed topic in the world! Mention not about the 2025 Tariff wars which have highly impacted the gold rate.

The massive increase in the prices, shooting up to 10 Lakh – 10 grams. But still, Dubai plays it safe when it comes to GOLD!

Dubai has been titled as “City of Gold” globally i.e., positioning itself as a premier hub for international trade. Free zones like Dubai Multi Commodities Centre and Dubai’s Gold Souk attract traders, manufacturers & investors from around the globe.

One thing that constantly attracts buyers & investors to purchase gold in Dubai is – no tax-free gold purchase.

Unlike other countries, Dubai allows to buy gold without any additional charges. Apart from this, there is no import duty for gold which makes it a better place to trade.

Why Choose Dubai for Gold Trading?

There are infinite reasons for choosing Dubai as a gold trading hub. With the deadly combination of geographical location, economics, and regulatory advantages nothing can bet UAE, Dubai as a trading hub.

1. Strategic Location: Located at the crossboards of Europe, Asia, and Africa which are the biggest markets dubai severes as the best place for international trade hub. The central location serves as the most convenient base of gold trade with minimal logistic challenges.
2. Economic Advantages: As mentioned, there are no import duty charges in Dubai as well as VAT exemptions on the most precious metals other than gold. Along with other business-friendly tax policies, Dubai is the best place for gold trading
3. High Demand for Gold: This city invites tourists to purchase gold! Yes, the demand for this metal by tourists & residents brings in a huge place for gold trading. The jewelry market here has a great re-export business opportunity as well.
4. Robust Infrastructure: This city has the best infrastructure for conducting business. Take for example the Jebel Ali post which is the biggest port encouraging the import and export business. Also there are a few free zones like DMCC that provides smooth trading operations.

Legal Requirements and Documentation

Before entering into any market and setting up a business it is important to understand the country’s legal framework and the documentation involved.

Entrepreneurs can choose different aspects of the gold trading business depending on the jurisdiction, business, structure, and idea.

Mainland Business: The business setup in this jurisdiction allows you to operate anywhere in Dubai. Expand all around the city to get access to local and international markets. The most crucial aspect here – is you need to have a local service agent or a sponsor to easily navigate. But in 2025 the government has eased restrictions.

Free Zone Business: Dubai’s freezones such as – DMCC commonly known for business realered to finance and investment sectors provide 100% foreign ownership, bag all the profits generated, and a few tax exemptions. Also, this jurisdiction offers a simplified business setup which is advantageous for beginners.

Dubai Gold and Diamond Park: The economic zones are known to exclusively deal with precious metals and gemstones. The facilities offered here are so excellent that the investors need not worry about safety. The vibrant community of the trader also allows you to sign in new business dealings. 

Required Documents:

To establish a gold trading business, the following documents are typically required:

• Trade Name Registration: Approval of your business name by the Department of Economic Development (DED) or relevant free zone authority.
• Personal Identification: Copies of passports for all shareholders and partners.
• Business Registration Documents: Incorporation paperwork and lease agreements for office or retail space.
• Additional Approvals: Depending on your activity, you may need clearances from entities such as the Security Industry Regulatory Agency (SIRA) or DMCC.

Steps to Set Up a Gold Business in Dubai

Follow the steps given below and understand how each step is crucial for setting up a gold business in Dubai.

Step 1: Choose Your Business Jurisdiction

The first thing you have to do is decide in which jurisdiction you need to set up the business. It can be the free zones, mainland, or Gold & Diamond Park.

Read the above description about all three locations and have a wise discussion. Talk to experts at Arnifi to get better clarity!

Step 2: Apply for a Gold Trading License

Once you choose your destination, it is recommended to apply for the license to move forward. Depending on the location apply it to the respective authority. Like the Department of Economic Development (DED) for mainland setups. Also, specific authorities are dealing with license issuing for free zones – like DMCC has its issuing authority.

Step 3: Register Your Business

Decide the trade name, and choose the name according to the rules set by the UAE government. Keep ready all the legal documents like notarization docs & MoA. (Quick Tip: Setting up business in free zones is far quicker compared to the mainland – Highly recommend for starters)

Step 4: Obtain Other Permits and Approvals

Gold business needs a lot of attention to security, therefore a special approval with SIRA – Security Industry Regulatory Agency. Also if you’re handling multiple businesses with these precious metals i.e., silver, platinum, and gemstones these approvals are mandated. 

Step 5: Set Up Your Operations

Setting up operations should be thought strategically, see where your retail outlet, office, or warehouse should be set up. This greatly impacts the business turnovers, the more commercial and evident your business stores the more profit you bag.

Step 6: Open a Corporate Bank Account

This setup is crucial as it deals with the cash flow. Consider picking up a reputable local or international bank in Dubai to open a corporate bank account. To do this you need a trade license, incorporation docs, and KYC. Therefore this is the last step of the entire business process.

Types of Gold Businesses You Can Start in Dubai

Dubai’s gold business doesn’t stick only with buying & selling, you can do much more than that. Entrepreneurs and invstores look for other types of gold business like – 

1. Gold Trading (Wholesale and Retail):

Golde Trading is on-the-ground trading that involves supplying physical gold in the form of biscuits or jewels to the shop owners. Retail trading operates with jewelry shops and kiosks in areas like gold souks and malls. 

2. Gold Refining:

This type of business focuses on processing raw or scrap gold into pure bullion and ingots. This type of business requires significant capital investment and regulatory approvals. But the profit margins are high and this can be accessible all across the global export markets. 

3. Gold Jewelry Manufacturing:

This is the work of the art department, a goldsmith who can redefine gold into beautiful statement pieces. Dubai’s skilled labor market and modern facilities makes it easier to the designers to design quality products. The free zones like the Dubai Gold & Diamond Park, make this an attractive option.

4. Gold Investment and Trading:

The better option other than business in the investment and ETFs (Exchange-Traded Funds). To run this type of business the person should have a solid understanding of the market trends to be profitable. When you perform great market research and pull out profits, this attracts investors.

5. Gold Processing and Recycling

You know gold is not just used as a jewel piece, it’s also used on majority of the electronic devices. If you can refine and extract the gold from used jewels and devices then nothing is more profitable than this business. Since this business focuses on environmental sustainability the profit margin is so high that you can handle other recycling businesses along with this.

Costs Involved in Starting a Gold Business in Dubai

Dubai offers the best location to start a gold business but it is also crucial to calculate the investment and the returns to be profitable in the long run.

1. Gold Trading License Fees:

Trading license fees vary depending on the jurisdiction i.e., mainland or freezone or the gold & diamond park). The expected pay would range between AED 15,000 to AED 40,000 annually. Free zones may have additional service charges like visa quotas, office space, and administrative support.

2. Office or Retail Space Rental:

This is another aspect of the business that will mostly depend on the location of the office and rental space. The more commercial and easily accescable to the public the higher are their prices. Consider a small retail kiosk in the gold souk the cost may range between – AED 30,000 per year.

On the other hand, if the showroom is in the prime commercial area then the cost is approx – AED 80,000 to 200,000+ annually. Free zone options may have flexibility in the prices.

3. Staffing Costs:

Hiring experts from different departments like – Salespeople, skilled designers, goldsmiths, and security personnel is necessary to run the gold business. These could cost around AED 3000 to AED 15,000. Along with this the business owner also needs to take care of the employee visa and the other essential employee & employer policies.

4. Miscellaneous Costs:

There are always last-moment expenses that need to be taken care of by allocating some funds aside. This includes branding, marketing, flexes, and other marketing materials, These can be counted up to AED 20,000 to AED 50,000 or more during the initial stages.

Benefits of Setting Up a Gold Business in Dubai

100% Foreign Ownership

The signal person is the decision maker and is also responsible for any discrepancies made in the business. Therefore the profit is fully owned by the owner and no shareholdings until the person decides to involve others i.e., it highly depends on the business structure.

Tax Exemption

As mentioned, there are no import duty charges in Dubai as well as VAT exemptions on the most precious metals other than gold. Along with other business-friendly tax policies, Dubai is the best place for gold trading. This results in higher profit margins.

Access to Global Markets

This city invites tourists to purchase gold! Yes, the demand for this metal by tourists & residents brings in a huge place for gold trading. The jewelry market here has a great re-export business opportunity as well.

Robust Legal and Financial Systems

Dubai offers a secure, transparent, and business-friendly regulatory environment. Strong financial institutions and clear legal frameworks support safe, compliant gold trade operations.

Challenges to Consider When Starting a Gold Business in Dubai

Understanding Compliance & Tax Regulations – VAT, corporate tax requirements
While having relatively low taxation, the companies that are set up in Dubai must comply with regulations and laws of VAT and other laws and regulations. The solution for this professional accounting and tax compliance advice is to keep your company in a harmonious working relationship with the governing authorities.

Bank Account Opening Delays – Ensuring proper documentation
Opening a business bank account Many businesses find it difficult to open a bank account because of strict compliance rules, high minimum balances, and paperwork issues. Visa & immigration obstacles: Business people and staff must have the appropriate visas to operate in Dubai. 

Competition in the Market – Strategies to build a competitive advantage
One of the difficulties of conducting business in the Dubai market is the presence of a competitive market in the Dubai. Dubai has a highly competitive market.  Dubai is a regional trade center, hosting leading conferences and exhibitions that link businesses to global markets. Commercial Service offices assist international firms with trade shows and promotions for simpler market entry.

Financing and Investment for Gold Businesses

Sources of Funding

Entrepreneurs can fund their gold business through personal savings, partnerships, or by attracting private investors. Venture capital and angel investment are options, particularly for innovative gold trading platforms or tech-enabled solutions in the industry.

Banking and Financial Support

Dubai’s robust financial sector offers tailored banking solutions for gold businesses, including business loans, trade finance, and inventory financing. Many local and international banks provide facilities specifically for gold import/export and working capital needs, especially to businesses operating in free zones like DMCC.

Investment Opportunities

Dubai’s stable economy, strategic location, and pro-business policies make gold ventures highly attractive to foreign and institutional investors. Opportunities exist in retail, refining, recycling, and digital gold platforms, offering a wide range of scalable business models with strong ROI potential.

Marketing Strategies for Your Gold Business in Dubai

Branding and Differentiation

Establishing a unique brand identity is crucial. Focus on what sets your business apart—whether it’s superior craftsmanship, ethical sourcing, personalized services, or exclusive designs. Your logo, store aesthetics, packaging, and messaging should consistently reflect your brand’s values and appeal to your target market.

Target Audience

Define your ideal customer segments. In Dubai, this may include high-net-worth individuals, tourists seeking premium products, wholesale buyers, or investors looking for bullion. Tailoring your products, pricing, and promotions to each group can significantly boost conversion rates.

Digital Marketing

Leverage social media platforms like Instagram and TikTok for showcasing your products visually. Invest in a user-friendly website with e-commerce capabilities and consider using SEO and Google Ads to attract search traffic. Email marketing and WhatsApp Business are also effective for building customer loyalty and driving repeat sales.

Partnerships and Networking

Collaborate with tour operators, hotels, and influencers to expand your reach. Participate in industry events, exhibitions, and business forums such as those hosted by the DMCC to build valuable B2B connections and strengthen your brand visibility in the trade network.

Conclusion

If you have completely read this article, you’ll be confident enough to start a gold business in Dubai. It is easier to execute your plan with experts on the ground. We at Arnifi will guide you through the entire setup from the registration to the licensing. We also assist you with choosing the right jurisdiction best suited for your business needs. There are official partners with us and served more than 200+ clients which makes us the most reliable business setup consults in Dubai. Get a free consultation now!