Dubai Gold and Diamond Park (DGDP) Free Zone Business Setup
Dubai Gold & Diamond Park Free Zone was planned for physical gold trading in Dubai. Evidently Dubai has become one of the most desirable places for doing business. It’s a booming international hub with tax-friendly policies and an outstanding social and economic infrastructure. It is no surprise that so many entrepreneurs are lacking behind in jewellery business. Dubai Gold and Diamond Park was established in 2001. Emaar Properties being the developer of Gold & Diamond Park manage a huge building selling jewellery made with some of the world’s finest jewellery, gemstones, diamonds, precious stones besides metals such as gold, silver, platinum which draws high-end personal accessories to residents and tourists. DGDP operates 90 jewellery shops and over 100 manufacturing facilities.
Dubai Gold & Diamond Park ‘s main aim was physical gold trading in Dubai; looking to full fill the particular needs of the gold as well as Diamond industry in Dubai. Additionally, Gold & Diamond Park in recent times launched leasing of office places to other professionals of business looking for more value of their investment. Known as the largest free zone in the UAE dedicated to gold and diamond businesses, the region is a major attraction for jewellery-loving tourists, residents and investors. With a Dubai Gold & Diamond Park business formation, you can excel in import, export and re-export activities.
Types Of License issued by Dubai Gold and Diamond Park Free Zone
After acquiring a manufacturing license in Dubai Gold and Diamond Park you can manufacture your own set of designs of diamond and gold ornaments.
Trading of precious metals and stones such as gold and diamonds sector is one of the vital national economic sectors that is expected to witness significant growth in the coming period as part of the UAE’s diversification objectives.
The trend of buying jewellery online is growing among consumers in the country.E-commerce and online buying are on the rise in the gold jewellery sector.Basically,through E-commerce license one can notice steady increase in customers who opt to buy gold jewellery online.
The Retail Centre is a blend of 37 retail units which organizations can conduct retail sales and purchase unique gold products and their materials as well.
National Industrial License
Industrial License helps you to carry out several business activities for an organisation to start an industry to carry out casting and cutting of gold and other precious metals.
Service or Professional License
Service License of Dubai Gold and Diamond Park includes functioning as goldsmith and testing gold & precious metals in laboratory.
Services provided by DGDP
- Robust workshop and manufacturing facilities to aid the jewellers meet the clients’ demands
- The DGDP offers a substitute for the retail industry
- Striking and spacious offices for all kinds of enterprises are issued.
- Hallmarking by the Dubai Municipality’s regular pickup aid for all gold made and distributed from the Gold & Diamond Park.
- Enclosed air-conditioned ground floor retail facility housing 37 retail shops that are available for leasing out.
Process to Setup a Business in Dubai Gold and Diamond Park
Dubai Gold and Diamond Park business setup in Dubai free zones, follows organized procedure which ensures an easier way of registration and follows a organized approach for company registration. Following are the steps to start a business setup in DGDP :
Step 1 :
A lease agreement from the Gold and Diamond Park management authority.
Step 2 :
Depending on the category of license you need to acquire ,you’ll need to fill out and submit the application form by attaching the requested documents to Jebel Ali Free Zone Authority (JAFZA) in Dubai:
- A copy of the lease agreement
- Proof of licensing fee payment.
- The Memorandum of Association (MOA) and Articles of Association (AOA) of the firm or partnership agreement deed (of a partnership firm)
Step 3 :
After reviewing the documents, JAFZA will issue a Certificate of Incorporation accordingly and submitting letter to the bank,to open a corporate bank account.
Step 4 :
A minimum deposit of share capital of the company(as requested by the authorities) should be made in the bank account once you receive the letter from the bank.
Step 5 :
The confirmation letter must be submitted to JAFZA ; reviewing this, they will issue your business license.
Why Choose DGDP?
Benefits of DGDP
- 100% foreign ownership
- No corporate taxes and personal income taxes.
- Strategic location within the heart of Dubai with easy access to all areas.
- Independence to operate 24/7.
- Constant support and as well as assistance to tenants to deal with government-related issues.
- Easy and Complete access to free zone benefits and facilities as JAFZA
- Hassle free hiring of expatriate workers.
- Good ambience and atmosphere
- Excellent marketing centre services, serving visitors and customers.
Documents Required for Dubai Gold and Diamond Park Free Zone Business Setup
- Copy of passports of the shareholders.
- Board resolution.
- Copy of passport and resume of the designated manager of the business setup in Dubai Gold and Diamond Park
- Rental agreement of the office and commercial space.
- Memorandum and Article of Association.
- Company license and business registration documents of the parent company( of a branch office or representative office).
- A description of the company’s activities.
Frequently Asked Questions
What are the free zones where one can start a Dubai Gold and Diamond Park business?
Resident or immigrant entrepreneurs can start any of the below mentioned companies in Dubai Gold and Diamond Park Free Zone:
- Free Zone Establishment (FZE)
- Free Zone company (FZCO)
- Branch of an Overseas Company or Branch of an UAE Registered Company
What is the estimate license cost for Dubai Gold and Diamond Park?
The licence cost for the preliminary business set up begins approximately from 15,000 AED. Moreover, few factors such as company’s location, your business activities, business operational expenses, company size, and the package you select also decide the total estimate of the license.
What are the business activities that are permitted in Dubai Gold and Diamond Park Free Zone?
Retail, E-Commerce, Financial Services, Educational, Trading, Entertainment establishment.
Why is DGDP is gaining popularity in UAE?
The main attraction of DGDP is its quality and collection of gold and diamond products which is unique which are designed by expert designers and craftsmen.