Foreign investors interested in starting a successful business in the UAE can try the jewelry industry. Home to some of the wealthiest individuals in the world and an international vacation destination, Dubai is the perfect and safest place to set up a jewelry company in. This is because the local government has created specific regulations and imposes rigorous checkups on those who bring gold or other precious metals which are sold in the emirate’s most famous gold market: Dubai Souk.
If you are interested in starting a jewelry business in this emirate, the Dubai company formation process is the first step to set it up.
Registering a jewelry company in Dubai
Foreign investors who want to establish a jewelry business in Dubai can register a company in the emirate or in one of its free zones. In case they decide on a free zone, the Gold and Diamond Park Free Zone is the perfect place if we take into consideration its name. Apart from this, no local partner or sponsor is required when opening a jewelry business in the Gold and Diamond Park.
Our company incorporation consultants in Dubai can assist in registering a business in the jewelry sector in the emirate on in the free zone.
Requirements to sell jewels in Dubai
Both retail and wholesale of gold and other precious metals are allowed in Dubai. Whether one decides to set up a stall in the Dubai Souk or in one of the many malls in the emirate, one must take into account the requirements related to the quality of the materials used to create the jewels.
Dubai jewelry companies may also import or export precious metals or ready-made jewelry pieces which must first pass the inspection procedures imposed by the Gold Office. In order to do that, a Dubai company must obtain a customs code number.
Why open a jewelry business in Dubai?
First of all, the quality of the metals sold in Dubai is famous all over the world, therefore a jewelry company will never complain about the lack of customers. However, starting a jewelry business in Dubai has another great advantage: no value added tax will be imposed on the sale of gold.
If you need more information on why you should open a jewelry business in Dubai, do not hesitate to contact us. You can also rely on us for assistance with the company registration process in Dubai.