The Gold and Diamond Park is a Dubai Free Zone. If we talk of a free zone or refer to a free trade zone, we assume special free zones that have been granted various tax and customs exemptions. Without customs authorities’ involvement, goods may be purchased, retailed, or produced in a free zone.
The Dubai Gold and Diamond Park was the fastest growing free zone dedicated to the gold and diamond industries. It is considered an essential gateway for shoppers and investors in jewelry.
Dubai Gold and Diamond Park Free Zone
- There are presently more than 30 free zones in a central location in Dubai. Gold and Diamond Park were established in 2011, located on Sheik Zayed Route, and the park is an extended version of the Free Zone of Jebel Ali.
- It serves nearly 90 retailers with enormous facilities, including air-conditioned high rise apartments, coping with trouble-free facilities in retail and manufacturing units under one roof. Many other free zones encircle the Gold and Diamond Park, which helps to strengthen the sector.
- The DGDP has been the more extensive free zone devoted solely to gold and diamond corporations and is considered a powerful platform for jewelry shoppers and entrepreneurs.
Services Provided by the Dubai Gold and Diamond Park
There is a wide array of facilities offered by this Dubai Free Zone. Some of them are mentioned as under-
- Manufacturing facilities are available for investors.
- Attractive offices for all kinds of enterprises are issued.
- The free zone offers an alternative for the retail industry as well.
- Hallmarking will soon be introduced by the Dubai Municipality's regular pickup aid for all gold made and distributed from the Gold & Diamond Park.
Apart from this, Gold and Diamond Park in Dubai guarantees that all the free zone services are transmitted to the new venture and more such a pro-business environment built within its space.
Advantages of Doing Business in DGDP Free Zone
The Dubai Gold and Diamond Park satisfy all the requirements of a business entity and its growth requirements. The park has all advantages that Dubai Free Zone company formation enjoys along with various benefits like:
- Resettlement capital and tax
- Complete control of a foreign country
- A convenient spot in Dubai city center, with convenient access to all areas
- It's easy to employ expatriate employees because of fewer restrictions
- Relation to each unit by central air conditioning
- Central process of distribution of gas to each unit
- Significant working conditions including adequate air conditioning systems, exhaust equipment and the supply of waste acid disposal samples for health and environmental issues
- Safety personnel and high-tech video monitoring, fire alarms and fire-defense systems around the globe
- Transfer via shuttle between Gold and Diamond Park and 5-star beach hotels
Why Establish a Business in Gold and Diamond Park?
Dubai is a popular destination for international traders, with a prominent gold and diamond trade market that attracts people worldwide to set up a business in Dubai.
- Company ownership at 100 percent
- Updated technology
- Well-integrated security
- Total resettlement of profit
- No taxes
- Free zones within easy access
Kinds of Business Licenses in Dubai Gold and Diamond Park
The Gold and Diamond Park has some of the world’s wealthiest businesses, for which the park's regulatory authority offers numerous licensing options such as:
- Trading License
- Manufacturing License
- Retail License
- Service License
- E-commerce License
- National Industrial License
1. Trading License
The owner of a trading license can conduct any trading activities in the Gold and Diamond Park.
2. Manufacturing License
A manufacturing license allows a person or a company to carry out manufacturing operations.
3. Retail License
An individual has the freedom to open his / her retail location by licensing the same in the Dubai Gold and Diamond Park.
4. Service License
An individual can provide professional services in Dubai Gold and Diamond Park by obtaining a government’s agency’s service license.
5. E-commerce License
E-commerce license allows the investor to sell digitally any goods and offers digital services via a website.
6. National Industrial License
A national industrial permit gives its owner access to open up an enterprise anywhere within the free zone.
Documents Needed for Registration in the Free Zone of Gold and Diamond Park
To set up your company in Dubai, in the Gold and Diamond Park free zone, you need all the following documents listed below:
- Copies of passports
- Evidence of company handling
- Terms of the rental agreement
- MOA and AOA signed document
- Details of the company plan
Procedure to Establish Up a Business in Dubai Gold and Diamond Park
There are specific steps in every free zone that need to be taken to set up a business in Dubai Gold, and Diamond Park in these free zones and, those steps are :
- The first and foremost criteria are reaching for a lease contract from an authorized individual.
- Decide the license is appropriate for your enterprise. As stated above, and fill in the application with the Jebel Ali Free Zone Authority (JAFZA), follow it up by providing adequate evidence of lease and license fee payment per the company.
- JAFZA will grant a Certificate of Incorporation after reviewing all the documents.
- The next follow-up move is to apply the bank certificate, where it will establish a corporate account.
- The bank will give a notification after obtaining the follow-up documents with a letter approving the deposit.
- The approval must be issued to JAFZA, to acquire your license
With the world staying up to date on the booming Dubai market, everyone here strives to get their hands on it. Gold tends to be one of their most profitable industries, providing enormous advantages to any foreign investor. Gold and Diamond Park, Dubai has a healthy environment that facilitates all the required business requirements, particularly in the jewelry and gemstone field.
Starting a jewelry souk or manufacturing company in the UAE is an exclusive and spacious free zone, and Commitbiz will help you establish your company in Dubai. We have a group of experts in the Gold and Diamond Park, Dubai, to support and cater to your business setup needs. Our team will ensure your company registration, licensing, visa service, VAT registration, and other company legalities. Please do not feel obliged to contact us for more details, and we will be delighted to assist you.