How to setup gold business in Dubai

Dubai Multi Commodities Centre (DMCC) could be a Government of city authority established in 2002. The DMCC’s aims square measure to develop and promote the flow of physical goods trade through the Emirate of city by harnessing an in depth trade zone called the Jumeirah Lakes Towers (JLT) country. This JLT country offers member firms business incentives like zero-percent company tax, an oversized alternative of business and workplace real-estate at intervals the Zone, and supporting commerce and supply infrastructure.

Regarding Gold business in Dubai, DMCC developed and continues to push variety of initiatives to support the expansion of the city gold sector. These initiatives vary from supporting the event of the gold refinement sector through to supporting the expansion of gold commerce, and embody the city Gold & Commodities Exchange (DGCX), the city sensible Delivery commonplace for gold refinement, the institution of the DMCC precious metals vault, and therefore the creation of valuable assaying standards.

Dubai Gold and Commodities Exchange (DGCX)

The city Gold Associate in Nursingd Commodities Exchange (DGCX) is an electronic platform for money and goods derivatives established in Nov 2005 as a venture between city Multi Commodities Centre (DMCC), money Technologies (India) restricted (FTIL), and therefore the Multi commodities exchange of India restricted (MCX). DMCC originally control five hundredth of the DGCX property, FTIL controlled four-hundredth, and MCX control the remaining 100%, however DMCC enraptured to majority management of DGCX, with MCX and money Technologies still on-board as minority shareholders. In Jan 2016, FTIL oversubscribed its remaining property in DGCX (27.3%) to DMCC, when Indian regulators deemed that FTIL mustn't hold stakes in money exchanges because of its involvement in failing Indian commodities exchange NSEL.

The DGCX and its offices square measure placed at Level thirty seven of the AU Gold Tower, that is located at intervals the Jumeirah Lakes Towers (JLT) advanced. DGCX is selected as a self-regulated organization by the United Arab Emirates(UAE) Securities & Commodities Authority, Associate in Nursing d is an affiliate member of the alignment of Securities Commissions (IOSCO).

How to start a transport business in Dubai

Note that there square measure two different securities exchanges in city, particularly information system city, that focuses on equates and Islamic bonds, and therefore the city Mercantile Exchange (DME), that is energy targeted commodities exchange. information system city was antecedently called the city International money Exchange (DIFX). These two different exchanges, that operate out of city International money Centre (DIFC), square measure regulated by the city money Services Authority (DFSA)

The Gold and Diamond Park, located on Sheikh Zayed Road, the arterial thoroughfare running through Dubai, has a facility of 90 leading retailers, and recently launched another expansion offering 118 manufacturing blocks, and commercial space for over 350 offices. The set-up here includes workshop areas complete with amenities designed for the requirements of jewelers.

How to start a business in UAE free zone

• 100% foreign ownership
• 100% repatriation of capital and profits 
• No corporate taxes
• No income tax
• Strategic location in the heart of Dubai with easy access
• 24/7 operational freedom
• Hiring of expatriate workers
• Central air conditioning plant connections to each unit
• Central gas distribution system to each unit
• Purpose-built work environment with proper ventilation systems, exhaust facilities and provision of acid disposal waste collection
• 24/7 security personnel and video surveillance, fire alarms and fire defense systems
• Hallmarking will soon be provided by the Dubai Municipality’s regular pickup services for all gold manufactured and sold from the Gold and Diamond Park
• Excellent retail center facilities and atmosphere, serving tourists and shoppers
• Shuttle transport to and from the Gold and Diamond Park and surrounding five-star hotels

·         One of the noticeable business directions in UAE is gold trading, diamonds trading and other commodities trading (exchange listed products like oil and oil products, colored metals, grain, industrial raw materials, textile raw materials, food products etc.)

·         The business activities of such companies can be performed inside UAE as well as abroad. What is very important – independently from the type of activity – inside or outside of the country – the tax treatment of these companies remains the same.

·         The most suitable type of company for trading with gold, diamonds and other commodities (exchange listed products) in Dubai, UAE is the company in the Free Trade Zone DMCC.

·         The costs of such company depend on the number of product commodities categories as well as the required number of residency visas for company’s shareholders and employees.