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 DMCC 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. 

Frequently Asked Questions 

What license do I need to trade gold in Dubai? 

You need a free zone trade license with relevant precious metals trading activity codes, plus DNFBP registration with the CBUAE and a documented AML compliance programme. 

Is gold trading in Dubai subject to AML regulations? 

Yes. Dealers in precious metals and stones are classified as DNFBPs under UAE law and must comply with anti-money laundering regulations including CBUAE registration, customer due diligence, and suspicious transaction reporting. 

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

Yes. Dubai South Business Hub Free Zone permits full foreign ownership with no UAE national partner required. 

What is the minimum cost for a gold trading license in Dubai? 

A trading license at Dubai South Business Hub Free Zone starts from AED 12,500 per year, with compliance costs additional. 

Do I need to register with the UAE Central Bank to trade gold? 

Yes. All dealers in precious metals and stones in the UAE are required to register with the UAE Central Bank as designated non-financial businesses and professions. 

Can I trade both gold and diamonds under the same license? 

Yes. Multiple precious metals and stones trading activity codes can be included under one license. The first five codes are included at no additional cost. 

What is the VAT treatment for gold trading in the UAE? 

Investment-grade precious metals meeting specific criteria are subject to a 0% VAT rate in the UAE. Other gold and jewellery transactions are subject to 5% VAT. Confirm your specific VAT obligations with a qualified adviser. 

Can a Dubai free zone gold company export to international markets? 

Yes. A free zone trade license allows you to export internationally, subject to UAE customs regulations and applicable export controls. 

How do Dubai's gold trading regulations compare to other global hubs? 

Dubai has invested significantly in strengthening its precious metals regulatory framework, including mandatory DMCC-certified refinery standards and expanded AML requirements. The regulatory environment is broadly comparable to London and Singapore for institutional-grade trading operations. 

Where can I find more information on AML compliance for gold traders in Dubai? 

The UAE Central Bank publishes guidance for DNFBP registration and AML compliance obligations. The Dubai South Business Hub Free Zone team can also direct you to qualified compliance advisers for the setup of your AML programme.