Which format fits
Dubai is known as a centre for trading gold and precious stones, and there are specialised commodity zones and a separate regulatory regime for such companies. Which format to choose depends on the volume and type of transactions.
What to pay attention to
- Trading in precious metals is subject to heightened requirements for transparency and origin.
- Warehousing, storage and insurance must be arranged separately.
- Large-value transactions require well-prepared compliance.
Structure and asset protection
The trading company carries out the transactions, the assets and storage are set up separately, and the holding company owns the shares and accumulated funds. The structure must be transparent to the bank and regulators.
The overall logic of the structure is described on the page “Asset protection and ownership structures”.
Bank account
Banks in this niche perform detailed checks: the supply chain, origin and counterparties. Complete contracts and documents for each batch are needed.
More: bank account opening.
Common mistakes
- The requirements for the origin of metals are underestimated
- There is no documented compliance policy
Where to start
Tell us about your business. We will review your situation and propose a company format, a jurisdiction and an ownership structure. You can compare the options in the article “Free zone or mainland”, and costs are covered in the article “How much does it cost to open a company in Dubai”.
Regulations and licensing requirements change. Current conditions must be verified before launch. The decision to open an account is made by the bank. Tax consequences depend on your residency.