How to Start a Gold Trading Business in Dubai

Dubai. 

The very name conjures images of shimmering towers, limitless luxury, and the legendary nickname: The City of Gold. But the real treasure is hidden from the skyline—it’s the unmatched entrepreneurial opportunity that shines brightest.

Every year, entrepreneurs flock here to launch a profitable gold trading business. The key to operating legally and successfully in this high-stakes environment is simple: preparation. With the right guidance and understanding, you can set up your gold trading business smoothly. If you are looking to establish your gold business, the essential first step is securing a gold trading license in Dubai.

In this blog, we are going to walk you through everything you need to know, from understanding the gold industry to picking the right location and getting the necessary approvals. By the end of this read, you will have a clear roadmap for starting your business, and hopefully, a little more excitement about joining one of the world’s most vibrant gold markets.

An Overview Of The UAE Gold Industry

So, why is Dubai such a hotspot for gold trading? Well, the numbers speak for themselves.

Let’s kick things off with some big highlights you’ll want to know if you’re eyeing Dubai’s gold market.

• The UAE’s gold exports recently exceeded USD 53 billion in the 2024‑25 period. That’s not small change, and it signals serious global demand.
  
• The country’s foreign trade in precious metals reached around USD 170 billion in 2024, up significantly from just a few years ago.
  
• Dubai now handles somewhere between 13 % and 15 % of global physical gold trade, making it one of the top hubs worldwide.
  
• Gold trade is more than just bullion and jewellery. The value chain covers refining, assaying, tokenisation and global re‑distribution, meaning businesses here are part of something much larger.
  

What does all of this mean for you and your plan to secure a gold trading license in Dubai? It means you are entering a market that is already massive, growing, and integrated into global supply chains. That shows there is strong demand both regionally and internationally.

The numbers highlight more than opportunity; they also signal stability. Dubai is a hub where global gold flows meet infrastructure, logistics, and regulatory support. This combination gives you an edge if you approach it strategically.

Why Set Up a Gold Trading Business in the UAE 

1. Strategic Location

Dubai connects major markets in Asia, Europe, and Africa. This makes shipping, importing, and exporting gold much faster than in other markets. Imagine you want to supply jewellery to Europe and bullion to Asia—you can do it all from one city without long delays.

2. Clear and Investor-Friendly Regulations

Are you worried about getting tangled in red tape? Dubai makes it easier. 

Licensing, approvals, and company formation are designed to be predictable. If you get your gold trading license in Dubai, you can focus on growing your business instead of worrying about endless paperwork.

3. Tax Advantages

Taxes won’t slow you down in Dubai. Standard VAT is 5 per cent, but investment‑grade gold is often zero‑rated. There’s no import duty on raw gold or bullion, and personal income tax is 0 per cent, making it easy for new traders to focus on growing their business efficiently.

4. Infrastructure that Supports Growth

Wouldn’t it be nice if everything you needed was already set up? Secure vaults, trading platforms, logistics networks, and banking options are all ready for you. Whether you trade bullion, coins, or jewellery, Dubai makes it easy to operate efficiently.

5. Credibility with Partners and Buyers

Do you want to be taken seriously in the market? Having an official trade license in Dubai signals that you are a legitimate and trustworthy business. That credibility helps you build strong partnerships and close deals faster.

Dubai is not just a location for your gold business; it is a complete ecosystem designed for growth, efficiency, and international trade. 

Types of Gold Businesses You Can Start in Dubai

When starting a gold business in Dubai, you need to choose from different activities based on your goals. Whether you want to deal in wholesale, open a retail store, or trade bullion, there’s an activity that fits every kind of investor.

1. Wholesale Gold Trading

If you like dealing in bulk quantities, wholesale gold trading might be your thing. This is where you buy gold in large quantities and sell it to other traders, jewellers, or retailers. It’s all about volume and strong supplier networks.

You’ll need a gold trading license in Dubai that covers bulk transactions, plus the right connections in the UAE gold trading market. The margins per unit might be smaller, but when you’re moving big quantities, the profits quickly add up.

2. Retail Gold Trading

This is the face of gold trading in the UAE that most people recognise — glittering showrooms filled with gold jewellery and tourists bargaining for the best deal. Retail trading means selling directly to consumers, either through a store or an online shop.

It’s competitive, yes, but also rewarding. 

Retail traders thrive on design, craftsmanship, and trust. The key is to offer something unique — custom designs, transparent pricing, or premium service — to stand out from the hundreds of gold outlets in Dubai’s Gold Souk and malls.

3. Bullion Trading

If you’re drawn to the investment side of gold, bullion trading is where the real action happens. You’ll be buying and selling gold bars, coins, and ingots based on international market prices.

With a gold trading license in Dubai, you can trade both locally and internationally. Many traders also work through the Dubai Gold & Commodities Exchange (DGCX) for futures and spot contracts. This path suits you if you understand market trends and enjoy the fast-moving world of commodities.

4. Gold Refining

Want to move up the value chain? Refining is for those who want to work behind the scenes, turning raw or recycled gold into pure, tradable bars. Dubai is home to several world-class refineries, and the demand for ethical, traceable refining is growing fast.

You’ll need a specialised setup, equipment, and specific external approvals to operate. But once you’re in, you can work with miners, jewellers, and even governments. It’s technical, but it positions you at the core of the gold supply chain.

5. Gold Import and Export

Dubai’s location makes it a natural gateway for the gold trade between Africa, Asia, and Europe. Many businesses focus solely on importing raw gold or finished products and exporting them to other markets.

This requires coordination with Dubai Customs, DMCC, and occasionally Dubai Police or the Central Bank, depending on the volume and source. The margins are often worth it, though, because the UAE’s tax-friendly system gives you a real edge in the global market.

6. Gold Brokerage Services

Don’t want to own the gold but still want to be in the trade? Brokerage is your play. As a licensed gold broker, you connect buyers and sellers, facilitate deals, and earn commissions.

It’s ideal if you have strong networks and negotiation skills. You can operate online or from one of the UAE’s financial hubs, helping clients source gold safely and efficiently.

Understanding the Gold Trading License in Dubai

Setting up a gold trading business in Dubai starts with one essential step: getting your gold trading license in Dubai. This license isn’t just a piece of paper; it defines what you can legally do, where you can operate, and how you reach your customers.

But what does it really mean for you and your business? Let’s break it down.

1. What Can You Do With the License?

Your license can include multiple activities, depending on your business plan:

• Trade gold: Buy and sell jewellery, coins, or bullion locally or internationally.
• Import and export: Bring gold into Dubai or send it across borders.
• Store your inventory: Legally store your inventory in secure vaults or warehouses.
• Refine or manufacture: Turn raw gold into bars or craft jewellery.
  

For example, if you want to start a boutique selling handcrafted jewellery while also importing bullion for investment clients, your license needs to cover both trading and import-export activities. This ensures your business runs smoothly and legally.

2.  Who Issues the License?

Who issues the license depends on where you decide to set up your business. And here’s a question many people get confused about: should you go for a mainland setup or a free zone?

• Mainland Business Setup: This is ideal if you want access to Dubai’s local market. With a mainland license from the Dubai Department of Economy and Tourism (DET), you can set up shops in areas like the Gold Souk and sell directly to walk-in customers. You’ll need a local sponsor or partner, depending on your structure. Mainland businesses are perfect if you want visibility and direct interaction with customers.
  
• Free Zone Business Setup: If you opt for a free zone, the respective free zone authority issues your license. Free zones are designed for international trade, giving you full ownership and simpler export-import processes.

Think of it this way: the mainland is for being part of Dubai’s local gold scene, the free zone is for running a global operation from Dubai.

3. Understanding Jurisdiction vs Activity

Jurisdiction is where your business is registered. Activity is what your business is allowed to do. You need both to line up perfectly.  Your license must clearly list your activities so that regulators know your scope, and you remain compliant.

Getting this right can be tricky, which is where professional business setup consultants in Dubai can help. They can walk you through company formation services, help you pick the right activities and jurisdiction for your business, and make sure all your approvals are secured quickly and correctly.

Main Locations & Zones for Gold Business in Dubai

Choosing where to base your gold trading business in Dubai is a big deal. Your location decides your license type, cost, and how easily you can reach buyers and suppliers. 

Let’s look at the top spots that dominate the gold trading UAE scene and what makes each one unique.

1. Dubai Gold Souk (Deira)

Located in Deira, the Gold Souk has been in operation since the 1940s and is often called the heart of the City of Gold.  If you’ve ever walked through the Gold Souk in Deira, you know it’s not just a marketplace — it’s an experience. This is where Dubai’s gold story began, and it’s still the heart of retail and small-scale wholesale trading.

Here, you can run a store, connect with tourists, and build a name for your brand. The license you’ll need usually falls under mainland commercial activities, giving you direct access to the local market. It’s perfect if you want visibility, foot traffic, and immediate sales.

2. Dubai Multi Commodities Centre (DMCC)

Now, if your focus is large-scale trading or global operations, the DMCC is where you’ll want to be. It’s one of the world’s top hubs for precious metals, with direct access to international markets and advanced infrastructure for storage, logistics, and trading.

Based in Jumeirah Lake Towers (JLT), DMCC has been operating since 2002 and handles over 25 per cent of the world’s gold trading. It is home to the Dubai Gold & Commodities Exchange (DGCX), which facilitates derivatives trading. 

Setting up here gives you a gold trading license in Dubai under free zone regulations. You’ll enjoy 100% ownership, zero import or export duties, and simplified customs procedures. This zone suits you if you plan to trade in bullion, run a brokerage, or manage international clients.

3. Gold & Diamond Park

For jewellery manufacturers, designers, and high-end retailers, Gold & Diamond Park hits the sweet spot. Located on Sheikh Zayed Road and serving as an extension of the Jebel Ali Free Zone (JAFZA), it’s a dedicated complex for gold and jewellery businesses.

The Park is home to over 90 retailers and more than 120 warehouses, where customers can even design their jewellery and watch it being made. You can lease a showroom or workshop, produce custom designs, and sell directly to both walk-in customers and wholesale buyers. The park operates under Dubai’s free zone model, giving you flexibility in ownership and operations.

How Location Shapes Your Gold Business Setup in Dubai

Your choice of location isn’t just about where you set up shop — it shapes how your business operates. 

• Mainland (like the Gold Souk) connects you directly to Dubai’s retail crowd.
  
• Free zones (like DMCC or Gold & Diamond Park) give you international access, tax advantages, and more control.

The right pick depends on whether you want to focus on local sales, exports, or large-scale international trading.

So before you jump in, think about where your gold belongs — on display, in trade, or across borders. Choosing the right hub will make your gold trading license in Dubai work harder for you and set your business up for success.

Step-by-Step Process to Get the Gold Trading License

Getting your gold trading license in Dubai may sound complicated, but it doesn’t have to be. If you follow the steps carefully, or better yet, work with experienced business setup consultants in Dubai, the process can be smooth and stress-free. 

Here’s how it usually works.

1. Choose Your Jurisdiction 

First things first, you need to decide where you want to set up your business. Will it be on the mainland or in a free zone?

• Mainland is great if you want a physical retail presence, like a shop in Deira Gold Souk. Here, you’ll deal directly with local customers, and your license will allow activities like retail trading and storage.
  
• Free zones, such as DMCC or Gold & Diamond Park, are ideal if you want to trade internationally. You get full ownership, easier import-export options, and access to global trading networks.
  

Ask yourself: who are your customers, and where do you want to sell? Your answer will guide this choice.

2. Pick a Trade Name

Next, you need a business name. It must be unique and comply with regulations set by the DET or the free zone authority. Think of it as your brand identity. Your trade name is what your customers will remember, so choose wisely.

3. Decide on Business Activities

What exactly will your business do? Will you focus on retail, wholesale, bullion trading, refining, or manufacturing? Your activities must be clearly listed in your license. Consultants can help you decide what combination makes the most sense for your goals and adheres to the regulatory standards.

4. Get Initial Approvals

Once your name and activities are ready, you’ll apply for initial approval from the DET or the free zone authority. This step confirms that your business plan is compliant and your chosen activities are allowed. If you’re on the mainland, you’ll also need SIRA approval for security clearance before you can proceed.

5. Secure Office Space or Warehouse

Mainland businesses must have a physical office and a tenancy contract, known as Ejari. Free zones give more flexibility, letting you lease office space or warehouses suited to your operations. This step is crucial because authorities will inspect your premises before issuing the license.

6. Apply for the Gold Trading license

Now it’s time to submit your documents: shareholder passports, trade name approval, initial approval, Ejari, and any additional documents required. The license covers your approved activities, whether that’s trading, importing, refining, or manufacturing. Keep in mind that the cost of a gold trading license varies depending on your location and activities. 

7. Obtain Additional Approvals

Depending on your activities, you may need approvals from organisations such as the Dubai Gold & Jewellery Group (DGJG) or the Securities and Commodities Authority (SCA). Consultants can guide you through this step to avoid delays.

8. Open a Corporate Bank Account

Once your license is issued, you’ll need a corporate bank account to manage transactions. Business setup services in Dubai can help you choose the right bank, prepare your documents, and get your account running smoothly.

Pro Tip: Working with a business setup company in Dubai or business setup consultants in Dubai can handle this entire process end-to-end. They make sure you get the right license, meet all approvals, and start trading without unnecessary stress.

Key Approvals and Compliance Requirements

Before you even think about opening your gold shop or starting your first trade, you need to clear a set of approvals that allow your business to legally exist. Once your license is issued, there are ongoing compliance rules you must follow to keep your operations clean, secure, and aligned with UAE regulations. 

Let’s walk through the full picture so you know exactly what to expect.

1. Security Approval – SIRA

Are you planning to trade gold on-site or store it in a vault? If yes, you’ll need approval from the Security Industry Regulatory Agency, or SIRA. This ensures your premises meet strict security standards, from CCTV systems to vault safety. SIRA approval also helps you gain credibility in the market, giving your customers and partners confidence that your business is legitimate and secure. Without SIRA approval, your gold trading license cannot be issued, and authorities may not allow your operations to start.

2. Dubai Gold & Jewellery Group (DGJG)

DGJG is a trade organisation that supports gold businesses in Dubai. They promote best practices, ensure compliance with local and international standards, and act as a collective voice for gold traders. Membership helps you stay up to date on rules and regulations while networking with industry peers.

3. Dubai Gold & Commodities Exchange (DGCX)

If you plan to trade gold derivatives or bullion contracts, DGCX regulates these activities. They provide a transparent trading platform, ensure compliance, and maintain market integrity. Even if you’re not trading on DGCX immediately, knowing their rules helps you plan for potential growth.

4. Securities and Commodities Authority (SCA)

SCA oversees financial markets across the UAE, including gold derivatives. They regulate trading practices to ensure transparency, fairness, and investor protection. Your operations may need to comply with SCA rules if you engage in any derivative or commodity trading.

5. Dubai Customs

If you want to import or export gold, Dubai Customs is your go-to authority. They make sure all shipments comply with UAE regulations and that your goods are correctly declared. Registration with Dubai Customs is essential for trading bullion, jewellery, or precious metals internationally. This step ensures your supply chain is smooth and your Gold Trading UAE operations remain hassle-free.

6. Central Bank of the UAE (CBUAE)

The Central Bank regulates financial transactions related to gold, especially gold-backed financial products like ETFs or certificates. This helps maintain market integrity and protects investors.

7. Anti-Money Laundering (AML) and KYC Requirements

UAE law takes Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) very seriously. You’ll need to implement KYC checks for your customers, monitor transactions, and maintain accurate records. Think of it as protecting your business and reputation while contributing to a safe and transparent gold market. Keep in mind that the violations of AML policies can even risk your business up to millions in penalties.

8. Value Added Tax 

If your annual turnover crosses AED 375,000, you must register for VAT with the Federal Tax Authority. This is what allows you to charge VAT correctly on eligible transactions, file returns on time, and keep your books clean. Even if you are not there yet, you can voluntarily register once you hit AED 187,500, which helps if you want to claim input tax on your expenses.

9. Corporate Tax 

Corporate tax registration is mandatory for every business in the UAE. You must complete your registration within three months of your license issuance. Even if your profits are below AED 375,000, you must still file your returns and keep records. Registering on time keeps your gold trading business compliant, ensures you can file correctly when needed, and sets up a clear system for tracking profits and expenses from the start.

Getting all the approvals and staying on top of compliance can be stressful. That’s why our business setup consultants in Dubai can guide you. From license approvals to post-license rules, we guide you at every step so you can focus on running and growing your gold trading business.

Costs of a Gold Trading License in Dubai

When you start thinking about starting a gold business in Dubai, one of the first and most important questions on your mind is the cost.  The truth is, it’s hard to give a flat or fixed rate. Costs vary depending on your business activity, legal structure, approvals required, office space, location, and a bunch of other factors.

Mainland setups and free zone companies also have different requirements, from trade name registration and initial approvals to security clearances, so each setup can have its own investment needs.

However, you don’t have to guess or figure it out alone. You can use our cost calculator to get a rough idea of what your startup might cost. Or else, reach out for a free consultation with our business setup consultants in Dubai to get a detailed estimate and guidance on every step. We’ll guide you through every step, help you understand all approvals and requirements, and give you a personalised plan so your gold trading business can launch smoothly.

Final Thoughts: How Vista Business Setup Can Help

Launching your gold trading business in Dubai comes with its share of steps, approvals, and paperwork. It might feel like a lot, but the right guidance turns it into a clear roadmap. Do you want to spend weeks figuring everything out, or have experts handle the approvals, licenses, and compliance so you can focus on building your business?

At Vista Business Setup, we help you set up smoothly, whether you’re choosing a mainland or free zone setup. Our business setup services in Dubai cover every detail, from licenses to compliance, making your gold trading journey straightforward and stress-free. 

Want to get started and see your plan take shape? Let’s make it happen. Reach out for a free consultation today.