Dubai Gold and Diamond Park (DGDP) Free Zone Business Setup
Dubai Gold & Diamond Park Free Zone Business Set up In Dubai was planned for physical gold trading in Dubai. Dubai has become one of the most desirable places for doing business. It’s a booming global center with favorable tax regulations and exceptional social and economic facilities. It is no surprise that so many entrepreneurs are lacking behind in the jewelry business. Dubai Gold and Diamond Park was established in 2001. Emaar Properties, the developer of Gold & Diamond Park, manages a vast building selling jewelry made with some of the world’s finest jewelry, gemstones, diamonds, and precious stones besides metals such as gold, silver, and platinum, which draws high-end personal accessories to residents and tourists. DGDP operates 90 jewelry shops and over 100 manufacturing facilities.
The main goal of Dubai Gold & Diamond Park was to trade physical gold in Dubai, meeting the specific requirements of the gold and diamond industry there. Recently, the Gold & Diamond Park also began offering office spaces for lease to other business professionals seeking better returns on their investments. As the biggest free zone in the UAE focused on gold and diamond trades, this area is a big draw for tourists, residents, and investors who love jewelry. If you start a business at Dubai Gold & Diamond Park, you can do well in importing, exporting, and re-exporting 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.
The trade-in valuable metals and gemstones like gold and diamonds are essential to the country’s economy. It’s expected to grow significantly shortly as part of the UAE’s diversifying efforts.
A growing number of people are buying jewelry through online platforms. The trend of using e-commerce and online shopping is growing in the gold jewelry industry. With an e-commerce license, you can see a consistent rise in customers buying gold jewelry online.
The Retail Centre is a blend of 37 retail units where organizations can conduct retail sales and purchase unique gold products and materials.
National Industrial License
National Industrial License
Industrial License helps you carry out several business activities for an organization to start an industry to cast and cut gold and other precious metals.
Service or Professional License
The service License of Dubai Gold and Diamond Park includes functioning as a goldsmith and testing gold & precious metals in the laboratory.
Services provided by DGDP Business Setup In Dubai
- Robust workshop and manufacturing facilities to aid the jewelers in meeting the client’s demands.
- The DGDP provides a substitute for the retail industry. Striking and spacious offices for all types of enterprises are issued.
- Dubai Municipality provides regular hallmarking services for all gold produced and distributed from the Gold & Diamond Park.
- Air-conditioned ground floor retail area that has 37 shops available for lease.
DGDP Business Setup In Dubai Process
Dubai Gold and Diamond Park business setup in Dubai free zones follows the organized procedure that ensures easier registration and follows an organized approach for company registration. Steps to start a business in DGDP:
Step 1 :
Get a lease agreement from the Gold and Diamond Park management.
Step 2 :
Depending on the type of license needed, fill out the application form with the required documents and send it to Jebel Ali Free Zone Authority (JAFZA) in Dubai:
- Copy of the lease agreement
- Proof of payment for the license fee
- Memorandum of Association (MOA) and Articles of Association (AOA) or partnership agreement for partnerships
Step 3 :
After JAFZA reviews your documents, they’ll provide a Certificate of Incorporation. This is used to open a company bank account.
Step 4 :
Once you get the bank letter, deposit the minimum share capital as required by the authorities.
Step 5 :
The confirmation letter must be submitted to JAFZA; after reviewing this, they will issue your business license.
Why Choose DGDP?
Benefits of DGDP Business Setup In Dubai
- 100% foreign ownership
- No corporate taxes and personal income taxes.
- Situated at a prime location in Dubai, granting effortless access to all parts of the city.
- Independence to operate 24/7.
- Constant support and assistance to tenants to deal with government-related issues.
- Easy and Complete access to free zone benefits and services as JAFZA
- Hassle-free hiring of expatriate workers.
- Good ambiance and atmosphere
- Excellent marketing center services, serving visitors and customers.
Documents Required for DGDP Business Setup In Dubai
- Shareholders’ passport copies and board decision.
- Passport and CV of the chosen manager for the Dubai Gold and Diamond Park business.
- Lease agreement for the office and commercial area.
- Company rules and official write-up.
- License and registration papers of the parent company (for a branch office).
- A summary of the company’s tasks and actions.
What free zones can one start a Dubai Gold and Diamond Park business?
Both residents and immigrant entrepreneurs have the option to initiate any of the following types of companies in the DGDP Free Zone:
Free Zone Establishment (FZE)
Free Zone Company (FZCO)
Branch of an Overseas Company
Branch of a UAE Registered Company
What is the estimated license cost for Dubai Gold and Diamond Park?
The license cost for the preliminary business setup begins at approximately 15,000 AED. Moreover, a few factors, such as the company’s location, business activities, business operational expenses, company size, and the package you select, also decide the total license estimate.
Why is DGDP gaining popularity in UAE?
The main attraction of DGDP is its quality and collection of gold and diamond products which are unique which expert designers and artisans design.
What business activities are allowed in Dubai Gold and Diamond Park Free Zone?
Retail, E-Commerce, Financial Services, Educational, Trading, and Entertainment establishment.