Dubai's gold and precious metals market is one of the most significant in the world, not just by volume traded but by the depth of the ecosystem around it. The emirate processes and re-exports billions of dollars worth of gold, silver, platinum, and precious stones annually, serving jewellery manufacturers, refineries, institutional buyers, and retail markets across Asia, Africa, and Europe. For traders looking to enter this market, the compliance requirements are more involved than for general goods, and understanding them upfront avoids costly delays. This guide covers the regulatory obligations, activity codes, and license costs for gold and precious metals trading at Dubai South.
What Does a Gold and Precious Metals Trading License Cover?
A gold and precious metals trading license allows your business to import, export, buy, and wholesale gold, silver, platinum, palladium, diamonds, gemstones, and related precious goods. This includes raw metals, refined bars and ingots, jewellery-grade material, and investment-grade precious metals. For businesses combining precious metals trading with jewellery trading, see the related codes available on the business activities page.
Gold Trading License Requirements and Compliance
Precious metals and stones dealers in the UAE are classified as Designated Non-Financial Businesses and Professions (DNFBP) under UAE anti-money laundering regulations. This has important compliance implications:
CBUAE registration, dealers in precious metals and stones must register with the UAE Central Bank as a DNFBP
AML and CFT compliance programme, you must have documented policies and procedures for anti-money laundering and counter-terrorism financing
Customer due diligence, know-your-customer processes are mandatory for transactions above applicable thresholds
Ongoing compliance reporting, suspicious transaction reporting obligations apply
Standard free zone documents: passport copy, proof of address, proposed company name
These are regulatory requirements that apply to all gold and precious metals traders in the UAE regardless of which free zone they operate from. Budget for compliance infrastructure as part of your setup.
Relevant Gold Trading Business Activity Codes
Activity codes for gold and precious metals trading businesses at Dubai South Business Hub Free Zone:
4662.04, Wholesale of Gold and Other Precious Metals
4669.07, Wholesale of Precious Stones
4773.11, Trading of Jewellery and Accessories Made of Gold and Silver
4773.12, Pearls and Precious Stones Trading
4752.77, Non-Manufactured Precious Metal Trading
4662.99, Metal Ores Trading
Cost of a Gold and Precious Metals Trading License
A trading license at Dubai South Business Hub Free Zone starts from AED 12,500 per year. Compliance costs, including CBUAE registration and the development of your AML programme, are additional and depend on the complexity of your operations. Use the cost calculator to generate an itemised estimate for your license and setup costs.
Setting Up Your Precious Metals Trading Company
Verify your preferred company name with the name check tool before starting your application. The free zone registration is digital and can be completed in one business day for the license itself. Your AML compliance programme needs to be in place before you begin trading. With your license issued, you operate with 100% foreign ownership, zero personal income tax, and full repatriation of profits, with no UAE national sponsor required.
Why Dubai for Gold and Precious Metals Trading?
Dubai's gold market benefits from deep institutional infrastructure, a transparent regulatory framework through the Dubai's commodities ecosystem and related bodies, and a geographic position that connects the world's largest gold-producing regions with its largest consuming markets. For a new gold trading business, establishing in Dubai provides credibility, market access, and a trading environment with genuine depth of counterparty and liquidity.
Related Activities
Non-Ferrous Metals Wholesale Trading Business
Metals & Metal Ores Trading Trading License
Iron & Steel Wholesale Trading Trading License
