Dubai has a longstanding experience of trading. Dubai is famous as the “City of Gold.” The Gold market of Dubai is growing day by day, and everyone wants to do gold trading in Dubai, but how to do it? safest way to invest in gold This article will answer you. Read the article carefully!
Why Gold Trading In Dubai?
Dubai’s history reveals that it has long been a gold trading center. Dubai is home to a quarter of the world’s gold market transactions. There are a number of benefits of Gold trading in Dubai. You can gain complete control of your firm and maximize the advantages of your gold dealing business in free zones.
You don’t need to pay any taxes and have all the profit. It provides you with ease. Dubai offers easy accessibility to all the functions for your business. The environment of Dubai is luxurious and peaceful. The gold manufactured in Dubai is of high quality, and the services are exceptional. The company registration in Dubai is straightforward.
Steps To getting Gold Trading License In Dubai:
For a hassle-free process, follow the following steps.
- Decide Your Company Name:
When starting a gold business in Dubai, choosing a unique selling name for your firm is crucial. In your company name, prevent utilizing any unpleasant or complex terminology or terms. Do not utilize the names of firms that already exist. When registering, make sure the name you choose is available.
- Apply for Your License:
The request for a license is the 2nd most essential step in getting a gold trading license in Dubai. You can apply to the Department of economic development if you want to initiate a gold trading firm on the mainland of Dubai. For the company formation in Dubai free zone, you must first file an application to the free zone’s managing authority.
- Apply for Visa:
You’ll need to apply for a visa after filing for your trade license, one each for you and your workers. There is a specific yet simple technique to follow to do this. You can also sponsor others after getting your UAE company license. The size of your company determines the number of visas you can have.
Documents Required To Open A Gold Trading Business In Dubai:
Following are the documents required to open a gold trading business in Dubai.
- Valid copies of passports.
- Show legal documents of your trade name.
- Get all the legal documents of permission and certificates.
- Create a memorandum of association and have it signed. Obtain the articles of incorporation as well.
- Receipts of fees and other dues.
The Cost Of A Gold Trading License In Dubai:
The cost of your trade license will vary from state to state in which you establish your business, the scale of your company, the number of additional visas you need, and other factors. As a general rule, a gold trade license normally costs between AED 20,000 and AED 40,000.
Advantages Of Starting A Gold Trading Business In Dubai:
Gold’s extensive and steady background is the strongest reason to trade it. The worth of gold has never fallen below 0 in its 3,000-year history of commerce. It has always kept its worth and, for the most part, improved.
It is still quite popular among investors and regular customers today, and both can be found in plenty in Dubai. Even without the help of sponsorship or agency, you can exchange goods with the marketplace. You can also take advantage of the UAE’s 0% corporate and personal income rate of taxation.
Best Locations In Dubai For Gold Trading Business:
Following are the best locations in Dubai for Gold Trading Business.
- DMCC Free Zone (Largest free zone).
- Gold and Diamond Park (It has the best environment for gold business).
- Dubai Mainland.