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 jewelry and gemstone.
Learn About Dubai Gold and Diamond Park Free Zone
Founded in 2011 as the flagship attraction and treasure trove of some of the finest jewels in the world, Gold and Diamond Park is another free zone in Dubai city. Strategically located on Sheikh Zayed Road, Dubai Gold and Diamond Park has become an attractive spot for the residents and foreign tourists visiting the city. Gold and Diamond Park has a collection of the most spectacular jewelry, precious stones, gemstones, gold, silver, platinum, and many other high-end accessories & ornaments. The Gold and Diamond Park is built to provide a bundle of all the precious jewels in the world under a single roof and make it hassle-free for customers to trade in gold and diamonds.
Gold and Diamond Park Dubai cater to and fosters:
- A manufacturing block (comprising 118 manufacturing units)
- A retail center (a mixture of 37 retail units of approximately 323 square feet to 1107 square feet each, all of which have been leased out)
Gold and Diamond Park is well supported by his highness General Sheikh Mohammed Bin Rashid Al Maktoum, the Crown Prince of Dubai and UAE Minister of Defence, the Government of Dubai, the Department of Tourism and Commerce Marketing, the Gold and Jewellery Group, and the World Gold Council. Naturally, one can locate many gold souks and jewelry shops here.
Services Provided by Gold and Diamond Park – Dubai Free Zone
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 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.
Types of Licensing in Dubai Gold and Diamond Park
The gold and diamond park has some of the wealthiest companies from around the globe, for which the regulatory body of the park provides various licensing options like:
The holder of a trading license is authorized to carry out any trading activities in the Gold and Diamond Park.
2. Manufacturing License
A manufacturing license allows an individual or a firm to carry out manufacturing activities.
3. Retail License
An individual can open one’s retail outlet by leasing the same in Gold and Diamond Park, Dubai.
A person can provide professional services in Dubai Gold and Diamond Park by acquiring a service license from the authorities.
An E-commerce license allows the owner to sell commodities online and provides services through a website.
6. National Industrial License
A national industrial license permits its holder to open up an industry anywhere in the free zone.
Dubai Gold and Diamond Park Free Zone Company Formation
Like all other free zones, even the Gold and Diamond Park Dubai Free zone follows a systematic approach to company registration. Any type of company or firm or retailer is free to open a business in the park, for which they have to follow these steps:
Lease Agreement - Obtain a lease agreement from the Gold and Diamond Park management authority.
Application form - Decide on the type of license you need to obtain. Accordingly, you’ll need to fill out and submit the application form along with the following documents to Jebel Ali Free Zone Authority (JAFZA) in Dubai:
- The Memorandum of Association (MOA) and Articles of Association (AOA) of the firm or partnership agreement deed (in the case of a partnership firm)
- A photocopy of the lease agreement
- Proof of licensing fee payment
Review of Documents - After reviewing and analyzing the documents, JAFZA will issue a Certificate of Incorporation and a letter that needs to be submitted to the Bank, where the corporate bank account would be opened.
Share Capital - After receiving the letter, the bank will, in return, issue a letter confirming the deposit made in the bank account. This deposit is the minimum share capital of the company, as requested by the authorities.
Company Registration - The confirmation letter should be submitted to JAFZA personnel; after reviewing this, they will issue you your business license.
Documents Needed for Registration in the Free Zone of Gold and Diamond Park
You may need further documents to set up your company in Dubai, in the Gold and Diamond Park free zone.
- Details of the company plan
- Copies of passports
- Evidence of company handling
- Terms of the rental agreement
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 Gold and Diamond Park, Dubai, to support and cater to your business setup needs.
Contact us now.
Can I open a manufacturing business in Dubai Gold and Diamond Park?
Yes, through obtaining a manufacturing license.
When Gold and Diamond Park in Dubai was established?
It was established in 2011.
How many retail outlets are operational in Gold and Diamond Park in Dubai?
There are 90 outlets operating.
How many manufacturing blocks are there in Dubai Gold and Diamond Park?
There are 118 manufacturing blocks.
What does the Dubai Gold and Diamond Park consist of?
It consists of Jewellery shop retailers, commercial leasing companies, 350 offices, courtyard, cafe restaurants etc.