Summary
A gold trading license in Dubai lets you buy, sell, import, export and store gold, bullion and jewellery legally. This guide compares the DMCC gold trading license with a mainland DET license, explains real setup costs, AML and responsible sourcing rules, SIRA approval, import licensing, VAT on gold, required documents, banking and the step-by-step process to start a gold trading business.
Dubai is one of the world’s busiest gold markets. The Gold Souk, Gold and Diamond Park, DMCC and a deep network of refiners, vaults and wholesalers make it a natural home for bullion dealers and jewellers. But gold is also one of the most closely supervised sectors in the UAE. As a consultant who handles business setup in Dubai for traders every month, I see that the setup itself is simple. The compliance and banking side is where most new gold businesses struggle. This guide covers both.
What Is a Gold Trading License in Dubai?
A gold trading license is a trade license with precious metals activities that allows your company to deal in gold, silver, platinum and related products. Depending on the activity, it can cover:
- Wholesale gold and bullion trading
- Import and export of gold bars, coins and granules
- Retail jewellery shops and showrooms
- Jewellery manufacturing and silversmith work
- Precious metals storage through approved vaults
- Precious stones and diamond trading
Every licensed gold business is treated as a Dealer in Precious Metals and Stones (DPMS) under UAE anti-money laundering law. That brings extra obligations beyond a normal trading company.
Why Start a Gold Trading Business in Dubai?
- Global hub: Dubai connects gold flows between Africa, Asia, Europe and the Middle East
- Strong demand: year-round buying from residents, tourists and regional wholesalers
- Infrastructure: refiners, vaults, assay labs and logistics firms in one city
- 100% foreign ownership in free zones and for most mainland trading activities
- Tax efficiency: no personal income tax, 9% corporate tax only above AED 375,000 profit, and special VAT rules for gold
- Bank and trade finance access once your compliance is in place
DMCC Gold Trading License vs Mainland License
Choosing the right jurisdiction is the most important decision you will make.
| Factor | DMCC Gold Trading License | Mainland (DET) License |
| Best for | Wholesale, bullion, import and export, B2B | Retail shops, Gold Souk, local customers |
| Ownership | 100% foreign | 100% for most trading activities |
| Retail sales to UAE public | Not directly | Yes |
| Vault access | DMCC Vault and Tradeflow | Separate arrangement |
| Location | JLT and Uptown Dubai | Anywhere in Dubai, including Gold Souk |
| Typical first-year cost | AED 50,000 to 120,000+ | AED 60,000 to 150,000+ with shop |
Choose DMCC if you trade in bulk, import or export, or deal mainly with other businesses. DMCC is Dubai’s commodities free zone and offers the DMCC Vault, Tradeflow warrants and a strong compliance framework that banks trust. Read our full DMCC company formation guide for costs and visas.
Choose the mainland if you plan a retail jewellery shop, a Gold Souk outlet or direct sales to UAE consumers. See our mainland company formation in Dubai service.
Many serious traders run both: a DMCC company for wholesale and a mainland company for retail. If you also plan to trade other goods alongside gold, a general trading company can cover multiple product lines under one license, and commodity traders can compare our oil trading business guide.
Types of Gold and Precious Metals Activities
| Activity | Typical Jurisdiction | Notes |
| Gold and precious metals trading | DMCC or mainland | Core wholesale activity |
| Bullion and coin trading | DMCC | Often linked to vaulting |
| Jewellery retail | Mainland | Shop, hallmarking and SIRA security |
| Jewellery manufacturing | Mainland or DMCC | Workshop and industrial approvals |
| Silversmith | Mainland | Crafting and repair of silver items |
| Precious stones and diamonds | DMCC | Kimberley Process for rough diamonds |
| Gold refining | Industrial zones | High capital and environmental approvals |
Online gold trading through a trading platform or CFDs is different. It is a regulated financial activity under the SCA or DFSA, not a gold trading license. See our forex trading company guide if that is your model.
Gold Trading License Cost in Dubai
Realistic budgets are higher than many older guides suggest because of office, compliance and banking needs.
| Cost Item | DMCC (Indicative AED) | Mainland (Indicative AED) |
| License and registration | From around 20,000 to 35,000 | From around 25,000 to 40,000 |
| Office or flexi-desk | From around 16,000 (flexi-desk) | From around 50,000 (shop or office) |
| Share capital | Around 50,000 (working capital, not a fee) | Depends on structure |
| Visa (per person) | Around 4,500 | Around 4,500 |
| AML framework and compliance officer | 10,000 to 30,000 | 10,000 to 30,000 |
| SIRA security (if storing gold on-site) | Varies | Varies |
| Vault storage | From around 15,000 | Arranged separately |
| Annual audit | 5,000 to 15,000 | 5,000 to 15,000 |
Typical first-year total: AED 50,000 to 120,000+ for a DMCC trading company, and AED 60,000 to 150,000+ for a mainland retail setup, excluding gold inventory. Use our business setup cost calculator for a quick estimate.
Approvals and Compliance Requirements
AML and goAML Registration
All gold dealers must register on goAML with the UAE Financial Intelligence Unit, appoint a compliance officer and run customer due diligence.
DPMSR Reporting
You must file a Dealers in Precious Metals and Stones Report (DPMSR) within two weeks for cash transactions, and certain wire transfers, of AED 55,000 or more. The Ministry of Economy and Tourism supervises DPMS compliance and can fine or suspend non-compliant dealers.
Responsible Sourcing
Traders must show where their gold comes from, following the OECD Due Diligence Guidance for minerals from conflict-affected and high-risk areas. DMCC members also follow the DMCC Rules for Risk Based Due Diligence in the Gold and Precious Metals Supply Chain.
SIRA Approval
If you store, display or handle gold at your own premises, you need security approval from Dubai Police’s Security Industry Regulatory Agency. Trading from a flexi-desk with gold held in an approved vault usually avoids on-site SIRA requirements. Our SIRA license guide explains the process.
Gold Import License and Customs
To import or export gold, you need a customs code from Dubai Customs and proper declarations for every shipment. Keep assay certificates, invoices and origin documents for each consignment.
Hallmarking and Quality
Jewellery sold in the UAE must meet purity and hallmarking standards, and bullion should come from recognised refiners, such as UAE Good Delivery or LBMA-accredited sources.
VAT on Gold in the UAE
- Investment gold of 99% purity or more is zero-rated on its first supply
- Jewellery and lower-purity gold are subject to standard 5% VAT
- Reverse charge applies to many supplies of gold and diamonds between VAT-registered businesses
Getting VAT right on gold is technical. Our VAT consultants help gold traders set up correct invoicing from day one.
How to Start a Gold Trading Business in Dubai: Step-by-Step
- Define your model: wholesale, bullion, retail, jewellery or silversmith.
- Choose DMCC or mainland based on your customers.
- Reserve a trade name and select precious metals activities.
- Submit your application with passports, business plan and source of wealth.
- Pass enhanced due diligence on shareholders and UBOs.
- Sign your office, shop or flexi-desk agreement.
- Receive your trade license and establishment card.
- Register on goAML and appoint a compliance officer.
- Arrange vault storage or SIRA approval.
- Register with Dubai Customs if importing or exporting.
- Open your corporate bank account.
Timeline: License issuance usually takes one to four weeks. Being fully operational with banking and compliance typically takes six to ten weeks.
Consultant tip: Prepare your AML policy, supplier due diligence and source-of-funds pack before you approach a bank. Banks decline gold companies far more often for weak documentation than for the business itself.
Opening a Bank Account for a Gold Trading Company
Banks treat gold as high risk, so expect detailed questions. Improve your chances with:
- A clear business plan with suppliers, buyers and expected volumes
- Proof of source of funds and source of wealth
- Your AML manual and goAML registration
- Supplier and refinery documents
- Ownership records that match your UBO registration
Our team supports corporate bank account opening for gold and commodity traders.
Documents Required
- Passport copies and photos of all shareholders and managers
- Emirates ID and visa copies, if resident
- Detailed business plan and financial projections
- Proof of source of funds and source of wealth
- CVs showing trading or industry experience
- Corporate shareholder documents, attested
- AML and KYC policy and compliance officer details
- Supplier and customer references, if available
- Lease agreement or flexi-desk contract
Common Mistakes to Avoid
- Choosing DMCC when you actually want a retail shop
- Underestimating AML and DPMSR obligations
- Starting trades before goAML registration
- Buying gold without origin documents
- Storing gold on-site without SIRA approval
- Applying for a bank account with an incomplete compliance file
Frequently Asked Questions
How much does a gold trading license cost in Dubai?
A DMCC gold trading company usually costs AED 50,000 to 120,000+ in the first year, excluding inventory. Mainland retail setups often cost more because of shop rent.
What is a DMCC gold trading license?
It is a DMCC free zone trading license with precious metals activities, designed for wholesale, bullion, import and export businesses with access to the DMCC Vault.
Do I need SIRA approval for gold trading?
Only if you store, display or handle gold at your own premises. Trading with gold held in an approved vault usually does not need on-site SIRA approval.
What is the AED 55,000 rule for gold dealers?
Gold dealers must file a DPMSR on goAML for cash transactions, and certain wire transfers, of AED 55,000 or more.
Can a foreigner own 100% of a gold trading company in Dubai?
Yes, in DMCC and for most mainland trading activities.
Do I need a separate license to import gold into Dubai?
You need a trading license with the right activity plus a Dubai Customs code for import and export.
Can I get a UAE residence visa with a gold trading license?
Yes. Owners and staff can get residence visas, and eligible investors can apply for the UAE Golden Visa.
Start Your Gold Trading Business with DIAC
DIAC handles your gold trading license from jurisdiction choice to AML setup, goAML registration, customs code, visas and bank account. Book a free consultation for an exact quote.
About the Author
Adil Ahmad is a senior business setup consultant at DIAC. He advises bullion dealers, jewellers and commodity traders on DMCC and mainland gold trading licenses, AML compliance and banking in Dubai.
