How to Start a Jewellery Trading Business with Meydan Free Zone

Jewellery trading covers the buying and selling of finished, mounted jewellery, from gold chains and bridal sets through to diamond-set pieces, branded collections, and contemporary designer ranges. Unlike the trade in loose stones or raw metal, this activity deals in the completed article, where value sits in design, craftsmanship, and brand as much as in the underlying materials. Dubai has built a global reputation in this category, and the trade remains one of the most visible parts of the emirate's commercial identity.

The category is commercially significant at national scale, with jewellery accounting for around 4.6% of total UAE non-oil trade, sitting alongside gold at roughly 48.6% to make precious materials the largest component of the country's merchandise trade.^[1] The broader UAE gems and jewellery market was valued at USD 8.34 billion in 2023 and is forecast to grow at 6.84% a year through 2029.^[2] At the premium end, the UAE luxury jewellery market is projected to rise from USD 1.24 billion in 2025 to USD 2.24 billion by 2030, a compound annual rate of 10.36%.^[3]

Two structural advantages support the trade. Competitive making charges and a favourable tax position keep UAE retail pricing attractive against other markets, and a deep supply base of stones, metal, and manufacturing capability sits within reach of any trader operating locally.^[4]

A Jewellery Market Growing Across Both Volume and Value

A Dubai-licensed jewellery trader operates in a UAE gems and jewellery market valued at USD 8.34 billion in 2023 and growing 6.84 percent a year through 2029, where jewellery accounts for around 4.6 percent of all national non-oil trade and the luxury segment alone is forecast to nearly double from USD 1.24 billion in 2025 to USD 2.24 billion by 2030.

Sources: UAE trade data (2026), TechSci Research (2024), MarkNtel Advisors (2025)

Who Is This Activity For?

4773.11 - Jewellery Trading

Activity 4773.11 sits within the broader class covering other retail sale of new goods in specialised stores, which includes the sale of watches, clocks, and jewellery. Within that class, this activity is the trading of finished jewellery. It covers buying and selling completed, mounted pieces in gold, silver, platinum, and other precious materials, whether stone-set or plain, across bridal, fashion, fine, and branded categories. The activity concerns the finished article as traded goods. It does not extend to manufacturing the jewellery, trading loose stones or unmounted metal, or providing repair and alteration services.

The trading range covers:

• Gold, silver, and platinum chains, bangles, and rings
• Diamond and coloured stone set pieces with certification
• Complete bridal and occasion sets
• Branded and designer-led collections
• Contemporary and fashion-led lighter-weight ranges
• Wholesale supply to retailers and boutiques
• Export of finished pieces to international buyers

Service Scope

Gold & Precious Metal Jewellery

Finished pieces in gold, silver, and platinum including chains, bangles, rings, and bridal sets traded across regional and international markets.

Diamond & Stone-Set Jewellery

Mounted pieces set with diamonds and coloured gemstones, supplied with grading certification where the stone value warrants it.

Branded & Designer Collections

Trading recognised jewellery brands and designer-led collections, where brand identity and provenance drive value beyond material content.

Bridal & Occasion Jewellery

Complete bridal sets and occasion pieces serving a category with deep cultural significance and consistent regional demand.

Fashion & Contemporary Ranges

Lighter-weight contemporary and fashion-led jewellery aimed at everyday wear and younger buyers, traded at higher volume and faster turnover.

WHAT THIS ACTIVITY EXCLUDES

It is important to note what activity 4773.11 does not cover. The manufacture of jewellery, including casting, setting, and finishing, is a manufacturing activity rather than trading. Trade in loose, unmounted precious stones and pearls sits within its own separate scope, as does the wholesale trade of gold and other precious metals in bullion or semi-finished form. The repair and alteration of jewellery is separately classified, as is the trade in imitation and costume jewellery, and the retail sale of second-hand or used jewellery.

In short: if you are buying and selling finished, mounted jewellery, you are in. If you are manufacturing the pieces, trading loose stones or raw metal, repairing jewellery, or dealing in imitation ranges, you are not.

Licensing & Compliance

THIRD-PARTY APPROVAL

This activity requires pre-approval from the Security Industry Regulatory Agency (SIRA) before a business license can be issued by Meydan Free Zone.

ANTI-MONEY LAUNDERING COMPLIANCE

As a dealer in precious metals and stones, this activity is classified as a Designated Non-Financial Business or Profession (DNFBP) and is therefore subject to AML compliance requirements. The licensed business must register with the relevant supervisory authority through the goAML platform, appoint a designated compliance officer, apply customer due diligence and record-keeping procedures, and report suspicious transactions in line with UAE anti-money laundering legislation.

References

[1] SANA. (2026). War pressures precious metals markets in the Gulf, citing UAE external trade data.  

[2] TechSci Research. UAE Gems and Jewelry Market, Competition Forecast & Opportunities, 2029.

[3] MarkNtel Advisors. (2025). UAE Luxury Jewelry Market Research Report, Forecast 2026-2030.

[4] Khaleej Times. Gold rate in Dubai and UAE jewellery pricing structure.