Steps to Start a Business in Dubai Gold and Diamond Park

by commitbizadmin 31, Oct 2019

Steps to Start a Business in Dubai Gold and Diamond Park

The Gold and Diamond Park in Dubai (DGDP) was established in the year 2011. It has the features and amenities that can make jewelers and those who have a penchant for jewelry to feel at home. This free zone is an extension of the Jebel Ali Free Zone and is administered by the Jebel Ali Free Zone Authority (JAFZA). Since the year 2011, the DGDP has been the largest free zone devoted to the gold and diamond businesses and is considered an important hub for jewelry shoppers and investors. The chief attraction in the free zone is a Visitor Retail Center (mall) specializing in gold and diamond jewelry.

The visual aspect of the park and the surroundings make it a famous display for visitors. No visit to Dubai is complete without spending a day buying things at the retail mall and enjoying a break in the outside yard or a snack in one of the wide selection of cafes and restaurants. All the tourists receive the finest service from trained and helpful personnel. The quality and the range of diamond and gold products are unmatched, and there are numerous skilled designers and craftsmen close at hand for unique custom pieces.

Benefits of Doing Business in DGDP Free Zone

  • Repatriation of capital and profits
  • Full foreign ownership
  • Convenient location in the heart of Dubai with easy access to all the areas
  • Hiring of expatriate workers is easy due to fewer restrictions
  • Central air conditioning connection to each unit
  • Central gas distribution system to each unit
  • Purpose-built work conditions with proper air-conditioning systems, exhaust tools, and provision of acid disposal waste samples for health and environment concerns
  • Around the clock safety staff and high tech video surveillance, fire alarms, and fire defence systems
  • Shuttle transportation between the Gold and Diamond Park and 5-star beach hotels

Types of Business Licenses in Dubai Gold and Diamond Park

  • Trade License
  • Manufacturing License
  • Service License
  • National Industrial License
  • Innovation License
  • Off-shore Registration License
  • Retail License
  • E-commerce License

Services Offered by Dubai Gold and Diamond Park

There is a wide range of services offered by this Dubai Free Zone. Some of them are mentioned as under-

  • Manufacturing units are available for the investors
  • Attractive offices for all types of businesses are provided
  • The free zone offers options for the retail sector as well
  • Hallmarking will soon be implemented  by the Dubai Municipality's regular pickup assistance for all gold manufactured and sold from the Gold & Diamond Park

Apart from this, the Gold and Diamond Park in Dubai ensures that all the facilities of the free zone are communicated to the new businesses and more such pro-business environment created within its space.

Procedure to Start a Business in Dubai Gold and Diamond Park

Just like any other business formation in Dubai free zones, the Dubai Gold and Diamond Park also have a similar procedure. The process to register your business in DGDP is as under-

  1. The first step is to register your trade name with which a proof of registration must be provided
  2. You must get a primary approval from the authority before business incorporation activity begins
  3. Next, register your business with the free zone authority by providing necessary documents
  4. A suitable office space must be leased and proof of the lease provided with the application
  5. If you get help from a Local Agent to help you with the steps, the local agent must have a notarized Power of Attorney
  6. Once the free zone authority reviews your application, you will be provided with a Certificate of Incorporation and a letter which must be submitted to the bank, where your business bank account would be opened
  7. After receiving the letter, the bank will in-return issue a letter of acceptance of the deposit made in the bank account. This deposit is the minimum share capital of the company, as requested by the authorities.
  8. The letter of confirmation must be offered to free zone authority, after reviewing which they will issue you your business license.

It is not an easy task to complete this process alone. This is why there are people who are available to help you out on the process. Seeking the help of a business consultant in Dubai gives you an opportunity to gain information on business setup in Dubai. We at Commitbiz are a platform to help you start a business. Our advisors have years of experience in this field and can make the process hassle-free. Contact us today to know more.