UAE licence guide

Gold Trading License in the UAE: Zones, Approvals and AML Rules

Dubai is one of the world's busiest gold markets, and a gold trading licence is not difficult to obtain. Staying compliant is the harder part. Dealers in precious metals and stones are treated as designated non-financial businesses under UAE anti-money laundering law, with goAML registration, customer checks and cash reporting duties. This guide compares DMCC, the Dubai mainland and Gold & Diamond Park, and explains activities, steps, documents, VAT and timelines.

Choose between DMCC, Dubai mainland and specialist jewellery zones
goAML registration and AML controls are compulsory for dealers
Cash deals of AED 55,000 or more trigger reporting duties
Investment-grade gold and B2B trades have special VAT rules

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At a glance

Free zone licensor: DMCC for bullion and precious metals trading; JAFZA licenses companies in Gold & Diamond Park
Mainland licensor: Dubai Department of Economy and Tourism (DET), for example for Gold Souk shops
AML supervisor: UAE Ministry of Economy and Tourism for dealers in precious metals and stones (outside ADGM and DIFC)
AML reporting: Register on goAML with the UAE Financial Intelligence Unit; file reports through it
Cash threshold: Cash transactions of AED 55,000 or more bring dealers into the DNFBP regime and need a DPMS report
Refinery standard: UAE Good Delivery Standard; DMCC also runs Dubai Good Delivery and Market Deliverable Brand accreditation
VAT: Investment gold of 99% purity or more is zero-rated; reverse charge on many B2B trades between registered businesses
Border rule: Travellers must declare cash, precious metals and stones above AED 60,000 when entering or leaving the UAE
Typical licence time: Around 2 to 6 weeks, plus goAML registration and banking

Licence and company options

DMCC precious metals trading licence

Best for: Bullion traders, wholesalers and international trading houses

DMCC was created around commodities and is the best-known address for gold trading in Dubai. Its ecosystem includes accredited vault operators, the Dubai Good Delivery and Market Deliverable Brand standards, and links to the Dubai Gold and Commodities Exchange. Expect DMCC to ask for a detailed compliance file because of the sector.

Dubai mainland gold trading licence (DET)

Best for: Retail shops, Gold Souk traders and local wholesalers

If you want to sell directly to walk-in customers in Dubai, for example from a shop in the Deira Gold Souk, a mainland licence from the Department of Economy and Tourism is the usual route. It needs physical premises with a registered lease, and jewellery sold to consumers must meet UAE purity and hallmarking rules.

Gold & Diamond Park company

Best for: Jewellery manufacturers, designers and showroom retailers

Gold & Diamond Park on Sheikh Zayed Road combines workshops, offices and retail showrooms, with companies licensed through Jebel Ali Free Zone (JAFZA). It suits businesses that make and sell jewellery in one place rather than pure bullion traders.

Other free zones for wholesale and logistics

Best for: Re-exporters and traders using Jebel Ali port or the airport

Zones such as JAFZA can work for trading and storing goods for re-export. Check that the zone lists the exact precious metals activity you need and how it handles the extra compliance checks for the sector.

Refining and recycling

Best for: Industrial refiners and gold recycling businesses

Refining is a separate industrial activity with much heavier obligations. UAE due diligence rules for responsible sourcing have been mandatory for refiners since January 2023, with annual independent audits, and refiners that want their bars accepted on markets also need accreditation.

Who it suits

Bullion and wholesale traders

Companies buying and selling gold bars, coins or grain with suppliers and buyers across Africa, Asia and Europe.

Jewellery retailers

Shop owners who need a mainland licence to sell to customers in Dubai's souks and malls.

Jewellery manufacturers and designers

Workshops that craft, repair or design pieces and want production and a showroom under one roof.

Family trading businesses expanding to Dubai

Established dealers from India, Pakistan, Turkey or elsewhere opening a Dubai entity for sourcing and re-export.

Precious stones dealers

Diamond and coloured stone traders, who fall under the same AML regime as gold dealers.

Step-by-step process

1
Decide where and how you will sell
International wholesale, local retail, manufacturing and refining each point to a different licensor. Decide whether you need walk-in customers, vault storage, a workshop or mainly a trading office.
2
Choose the activity and legal form
Select the precise activity, such as gold and precious metals trading or jewellery trading, and a company form. Activity wording matters later for banks, customs and the AML supervisor.
3
Prepare the compliance file
Licensors in this sector ask for more than passports. Prepare a business plan covering suppliers, target markets, expected volumes and how you will check customers and the origin of metal.
4
Apply, get approval and sign premises
Submit the application to DMCC, DET or your chosen zone, pass shareholder screening and sign your office, shop or workshop lease. Retail shops need a registered lease in the right location.
5
Receive the licence and customs code
Once the licence is issued, register with Dubai Customs if you will import or export metal, so shipments can be declared under your company.
6
Register on goAML and set up AML controls
Register the company on the goAML platform, appoint a compliance officer, adopt written AML and sanctions screening policies and train staff before trading.
7
Open a bank account and register for tax
Banks review gold dealers closely, so present supplier lists, AML policies and expected flows. Register for VAT if taxable supplies pass the threshold, and for corporate tax.
8
Run ongoing reporting and record keeping
Keep customer due diligence records, file DPMS reports for qualifying cash deals, screen counterparties against sanctions lists and keep records for the period the law requires.

Documents you'll need

Passport copies and photos of all shareholders, directors and managers
Business plan describing products, suppliers, target markets and expected volumes
Source of funds and source of wealth evidence for shareholders
Ownership chart showing every ultimate beneficial owner
Bank reference letter and CVs or trade history of the owners
Attested incorporation documents and board resolution for corporate shareholders
AML, customer due diligence and sanctions screening policies
Supply chain due diligence procedures covering the origin of metal
Lease or facility agreement for the office, shop or workshop
Name and details of the appointed compliance officer

Typical timeline

Stage	Typical duration
Planning, activity choice and compliance file	About 1 to 2 weeks
Licensor review and approval	Roughly 2 to 4 weeks, longer for complex ownership
Licence issue and customs registration	A few working days to a couple of weeks
goAML registration	Usually days to a few weeks
Corporate bank account	Several weeks to a few months

DMCC, Dubai mainland and Gold & Diamond Park compared

Point	DMCC	Dubai mainland (DET)	Gold & Diamond Park
Best for	Bullion, wholesale and international trade	Retail shops and local wholesale	Jewellery manufacturing and showrooms
Licensing body	DMCC	Department of Economy and Tourism	JAFZA, through the park
Selling to walk-in UAE customers	Limited; mainland route usually needed	Yes	Yes, from park showrooms
Premises	Office or flexi-desk in JLT or Uptown Dubai	Shop or office with registered lease	Showroom, workshop or office unit
AML supervisor	Ministry of Economy and Tourism	Ministry of Economy and Tourism	Ministry of Economy and Tourism

Why AML rules shape every gold business in the UAE

Under UAE anti-money laundering law, dealers in precious metals and stones are designated non-financial businesses and professions when they carry out cash transactions of AED 55,000 or more, in one deal or several linked ones. In practice most dealers prepare for the regime from day one, because a single large cash sale brings the business inside it.

Being inside the regime means registering on goAML, the reporting platform of the UAE Financial Intelligence Unit, appointing a compliance officer, running risk-based customer due diligence, screening customers against sanctions lists and reporting suspicious transactions. The Ministry of Economy and Tourism supervises dealers outside ADGM and DIFC and can impose significant penalties for failures.

Dealers must also file a Dealers in Precious Metals and Stones Report (DPMSR) through goAML for qualifying cash transactions of AED 55,000 or more. Ministry guidance extends this to some wire transfers with companies, so read the current circular for your customer types.

Good Delivery standards and responsible sourcing

Bars traded on major markets must come from refiners on an accepted list. DMCC runs the Dubai Good Delivery and Market Deliverable Brand standards, supported by its rules for risk-based due diligence in the gold and precious metals supply chain, which DMCC aligns with OECD guidance.

At federal level, the UAE announced the UAE Good Delivery Standard in November 2021, and the Ministry's due diligence rules for responsible sourcing became mandatory for refiners from January 2023, including annual audits. The LBMA describes the national standard as replacing Dubai Good Delivery while keeping most of its features.

For a trader, this means asking every supplier where the metal came from, keeping evidence of refinery and origin, and treating high-risk sourcing regions with extra care. Banks and buyers increasingly ask to see that evidence.

VAT on gold: zero rate and reverse charge

Investment precious metals, meaning gold, silver and platinum of at least 99% purity in a form tradable on global bullion markets, are zero-rated for VAT. Jewellery and lower-purity items sold to consumers are normally taxed at 5%.

Supplies of gold and diamonds between VAT-registered businesses for resale or manufacturing have long used a reverse charge, where the buyer accounts for the VAT instead of the seller. Cabinet Decision No. 127 of 2024, announced by the Ministry of Finance in January 2025, widened this mechanism to more precious metals and stones. Check the conditions with a tax adviser before your first invoices, because mistakes here are costly.

Customs and moving gold in and out of the UAE

A trading company that imports or exports metal needs a Dubai Customs client code and must declare shipments correctly, including purity, weight and origin. Customs treatment can differ for bars, grain and jewellery, so confirm it for each product line.

Travellers carrying cash, precious metals or precious stones worth more than AED 60,000 must declare them when entering or leaving the UAE, which can be done online or through the Afseh app. Metal moved for business should travel as a proper commercial consignment with a customs declaration, not in hand luggage.

Common mistakes to avoid

Starting to trade before goAML registration

Choosing a free zone for a retail shop

If customers will walk in and buy, a mainland licence is usually needed. A free zone licence alone rarely covers local retail.

Accepting metal without origin evidence

Undocumented supply exposes you to sanctions, AML and reputational risk, and banks may close your account.

Getting VAT wrong on B2B sales

Charging VAT where the reverse charge applies, or the other way round, causes penalties and cash-flow problems.

Not declaring gold at the border

Hand-carrying precious metals above AED 60,000 without a declaration can lead to confiscation and fines. Ship trade stock as a declared consignment.

Vague activity wording

A general trading licence without the right precious metals activity can cause trouble with banks, customs and the AML supervisor.

Why plan your licence with Freezone King

The right licensor for your model

We explain honestly whether DMCC, the mainland or a specialist zone fits the way you will buy and sell.

Compliance file prepared with you

We help you assemble the business plan, ownership and source of funds documents that gold applications need.

Setup through to visas and bank

We coordinate licence, premises, visas and bank account preparation, and point you to AML and tax specialists where needed.

Updates in your language

Our team supports clients in eight languages, with WhatsApp updates at each stage.

Frequently asked questions

Do I need a special licence to trade gold in the UAE?

You need a trade licence that lists the precise precious metals or jewellery trading activity, issued by a free zone such as DMCC or by the Department of Economy and Tourism on the mainland. You also take on AML duties as a dealer in precious metals and stones.

Which is better for gold trading: DMCC or the mainland?

DMCC usually suits bullion, wholesale and international trade, with vaults and accreditation standards nearby. The mainland is usually needed if you will sell to walk-in customers in Dubai, for example from a Gold Souk shop.

Do gold traders have to register on goAML?

Dealers in precious metals and stones fall under UAE AML law and must register on goAML, the Financial Intelligence Unit's reporting system. Registration is needed to file suspicious transaction reports and DPMS reports.

What is the AED 55,000 rule for gold dealers?

Dealers become designated non-financial businesses when they carry out cash transactions of AED 55,000 or more, in one deal or several linked deals. Such cash transactions must be reported through goAML in a DPMS report.

Is there VAT on gold in the UAE?

Investment gold of at least 99% purity in a form tradable on bullion markets is zero-rated. Jewellery sold to consumers is normally taxed at 5%, and many trades between VAT-registered businesses use the reverse charge.

How long does it take to get a gold trading licence in Dubai?

The licence itself often takes around two to six weeks once your compliance file is complete. goAML registration and opening a bank account can add several weeks to a few months.

Can a foreigner own 100% of a gold trading company in Dubai?

Yes. Free zone companies allow full foreign ownership, and most mainland trading activities also allow 100% foreign ownership since the 2021 companies law changes. Confirm the rules for your exact activity.

What is Dubai Good Delivery?

Dubai Good Delivery is DMCC's accreditation standard for refiners whose bars are accepted in the Dubai market, backed by its responsible sourcing rules. The national UAE Good Delivery Standard, announced in 2021, is being applied across the country.

Can I sell gold online from a UAE company?

Yes, with the right trading and e-commerce activities. Online sellers have the same AML, customer due diligence and VAT duties as other dealers, and need clear delivery and payment controls.

Do I need to declare gold when travelling to or from the UAE?

Yes. Travellers must declare cash, precious metals and precious stones worth more than AED 60,000 when entering or leaving the UAE. Commercial shipments follow the customs declaration process instead. Failing to declare can lead to confiscation and penalties.

Is it hard to open a bank account for a gold trading company?

It takes more preparation than most sectors. Banks want supplier details, expected volumes, AML policies and source of funds evidence. A consistent, well-documented file improves your chances.

Sources

Researched on 9 November 2026. Fees, rules and timelines change; confirm the current terms before you apply.

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