Table of Contents
How to Start a Non-Manufactured Precious Metal Trading Business in Dubai with Meydan Free Zone
Dubai is the City of Gold. The Dubai Gold Souk alone houses over 300 retailers.
The city is home to dozens of licensed gold refineries, hundreds of bullion dealers and a precious metals ecosystem that has made the UAE the second-largest gold trading hub in the world after Switzerland. Non-manufactured precious metal trading covers the retail sale of raw, unwrought and semi-processed precious metals: gold bars, silver ingots, platinum sponge, palladium grain.
Not jewellery, not coins, not finished products.
According to the World Gold Council¹, the UAE imported 1,047 tonnes of gold in 2023, valued at approximately USD 71 billion, confirming the country's position as the world's second-largest gold trading hub. According to the World Gold Council², Dubai handles approximately 25 percent of global physical gold trade, supported by dozens of licensed refineries and hundreds of registered bullion dealers.
According to Fortune Business Insights³, the global gold market was valued at approximately USD 291 billion in 2024, with the Middle East as a primary trading corridor between producing regions in Africa and consuming markets in South and East Asia. According to SIRA⁴, non-manufactured precious metal trading requires pre-approval from the Security Industry Regulatory Agency and is subject to anti-money laundering compliance requirements, reflecting the high-value and regulated nature of precious metals trading.
Whether you are selling gold bars to investors, silver ingots to industrial buyers, or platinum and palladium to manufacturing companies, this activity covers the retail sale of non-manufactured precious metals directly to consumers.
Who is this for?
| Audience Segment | Profile |
|---|---|
| Precious metals dealers | Entrepreneurs opening a secure retail facility for gold bars, silver ingots, platinum bars and palladium, serving private investors, jewellery manufacturers and industrial buyers. |
| Online bullion sellers | Sellers building online storefronts for investment-grade gold and silver bars from LBMA-accredited refiners, reaching private investors, wealth managers and institutional buyers. |
| Precious metals brands | Founders building branded retail businesses around certified, serialised, assay-documented precious metal bars and ingots, selling directly to family offices, wealth managers and industrial consumers. |
4752.77 - Non-Manufactured Precious Metal Trading
Under this activity, you can run a specialised retail business selling non-manufactured precious metals directly to consumers, from private investors and jewellery manufacturers to industrial buyers, wealth managers and family offices sourcing gold bars, silver ingots, platinum, palladium and other precious metals in unwrought or semi-processed form.
There's one boundary to note. This activity covers the retail sale of non-manufactured precious metals only.
It does not cover the wholesale or manufacture of precious metals, jewellery making, precious metal refining, or numismatic coin trading, which fall under separate activity classifications.
In short: if you are selling non-manufactured precious metals directly to consumers, this is your activity. If you are refining, manufacturing jewellery or wholesaling, those fall under a separate scope.
| Category | Scope |
|---|---|
| Gold bars and bullion | Retail of gold bars, gold ingots, gold grain, gold sponge and unwrought gold in various purities (995, 999, 9999) for investment, industrial use and re-export, sold directly to consumers including investors, jewellery manufacturers and industrial buyers Open a specialist gold bullion retail store serving investors, jewellery manufacturers and industrial buyers sourcing gold bars, ingots and grain for investment, fabrication and re-export UAE CONTEXT Dubai is the world's second-largest gold trading hub, importing 1,047 tonnes valued at USD 71 billion in 2023, with the Gold Souk, licensed refineries and specialist bullion dealers forming the retail backbone of the market. |
| Silver, platinum and palladium | Retail of silver bars, silver grain, platinum ingots, platinum sponge, palladium bars, palladium grain and other precious metals in unwrought or semi-processed form for investment and industrial applications Run a dedicated precious metals retail outlet catering to investors, industrial manufacturers and electronics companies sourcing silver, platinum and palladium for investment and industrial use UAE CONTEXT Silver and platinum group metals are increasingly demanded by UAE industrial buyers for electronics manufacturing, catalytic converter production and solar panel manufacturing. |
| Precious metal investment products | Retail of investment-grade precious metal bars and ingots from LBMA-accredited refiners, including serialised bars with assay certificates, for private investors, wealth managers and institutional buyers Operate a retail showroom or secure sales facility supplying certified investment-grade gold, silver, platinum and palladium bars to private investors, family offices and wealth management clients FAMOUS UAE PRECIOUS METAL DEALERS Emirates Gold, Al Etihad Gold Refinery, Kaloti Precious Metals, Dubai Gold Souk retailers, licensed bullion dealers and specialist investment-grade precious metal suppliers serve UAE precious metal buyers. |
Third-Party Approval
This activity requires approval from SIRA (Security Industry Regulatory Agency) before your trade license is issued.
Anti-Money Laundering Compliance
This business activity is subject to anti-money laundering (AML) compliance requirements.
References
- ¹ World Gold Council, *UAE Gold Import Data 2023*. https://www.gold.org
- ² World Gold Council, *Dubai Gold Trade Data*. https://www.gold.org
- ³ Fortune Business Insights, *Global Gold Market Size & Forecast*. https://www.fortunebusinessinsights.com/gold-market
- ⁴ SIRA, *Security Industry Regulatory Agency, Precious Metals Trading Requirements*. https://www.sira.gov.ae
