Business Set up in Dubai Gold and Diamond Park Free Zone (DGDP)-10 Simple Steps

Company Formation in Dubai Gold and Diamond Park Free Zone (DGDP) :

Dubai Gold and Diamond Park is an extension of the Jebel Ali Free Zone and is administered by the Jebel Ali Free Zone Authority (JAFZA). Established in 2011, the flagship fascination and treasure trove of the absolute best jewels in the world, Dubai Gold and Diamond Park is another free zone in Dubai city. The leading attraction in the free zone is a Visitors Retail Center (mall) specialising in gold and diamond jewellery.

Dubai Gold and Diamond Park has an accumulation of the most staggering jewellery, precious stones, gemstones, gold, silver, platinum, and numerous other top of the line frill and adornments.

Strategically situated on Sheik Zayed Road, Dubai Gold and Diamond Park has turned into an appealing spot for the inhabitants and furthermore for remote voyagers visiting the city.

The process of business setup in Dubai Gold and Diamond Park is highly flexible and offers benefits including strategic location, excellent connectivity, and world-class infrastructure.

The visual aspect of the park and surroundings make it a popular attraction for tourists. All visitors receive the finest service from knowledgeable and helpful staff. The quality and selection of gold and diamond products is unmatched and there are several talented designers and craftsmen close at hand for unique custom pieces.

If you want to open or Setting up a company in Dubai, Dubai’s Gold and Diamond Park free zone is one of the most favourable place to set up your business

You can set up a Free Zone Company (FZCO), a Free Zone Establishment (FZE) or a a Branch Office represents an existing foreign or UAE company and does business in the name of the parent company. However, requirements are different for each of the business types and will be different if one or more of the owners/shareholders is a corporate entity.

Just like any other company in the UAE, companies licensed by Gold and Diamond Park free zone also must obey specific regulations, laid out by the UAE government.


Company Structures at Dubai Gold and Diamond Park Free Zone (DGDP)

Resident or immigrant entrepreneurs can start any of the below mentioned companies in Dubai Gold and Diamond Park Free Zone:

  1. Free Zone Establishment (FZE)
  2. Free Zone company (FZCO)
  3. Branch of an Overseas Company or Branch of an UAE Registered Company

Types of Licenses Available for Dubai Gold and Diamond Park Free Zone (DGDP)

The Gold and Diamond Park Free Zone has some of the world’s wealthiest businesses, for which the park’s regulatory authority offers different licensing options such as:

  1. Trading Licence
  2. Commercial Licence
  3. Retail Licence
  4. Manufacturing Licence
  5. Service Licence
  6. E-Commerce Licence
  7. Innovation Licence
  8. Industrial Licence
  9. Heath and fitness
  10. Banking and financial services

Business Activities Permitted in Dubai Gold and Diamond Park (DGDP)

Below mentioned business activities are permitted in Dubai Gold and Diamond Park Free Zone:

  1. Retail
  2. E-Commerce
  3. Trading
  4. Financial services
  5. Educational
  6. Entertainment establishment

Facilities offered at Dubai Gold and Diamond Park (DGDP)

There is a wide array of facilities offered by this Dubai Gold and Diamond Park . Some of them are mentioned below:

  • Availability of manufacturing units
  • Offices for all types of businesses
  • Retail sectors
  • Centralised distribution of gas to each unit
  • Central air conditioning
  • Healthy purpose-built work environment equipped with adequate proper ventilation systems, exhaust equipment and the supply of waste acid disposal samples for health and environmental issues
  • 24X7 security personnel and high-tech video monitoring, fire alarms and fire-defence systems
  • ATMs of major banks are conveniently located on the ground floor

Advantages of Company Set up in Dubai Gold and Diamond Park (DGDP)

The Dubai Gold and Diamond Park satisfy all the requirements of a business entity and its growth requirements. Investors who want to set up a business in the Dubai Gold and Diamond Park can avail several benefits such as:

  • Full ownership of companies
  • Work and Contribute in Vibrant Community
  • The simple process of business formation.
  • Very competent registration and licensing process
  • 100% direct tax free
  • No Corporate Tax and No Income Tax
  • No restriction on currency
  • Smart services platform
  • 100% repatriation of capital & profits
  • Affordable office rent
  • Modern facility
  • Secure regulated environment
  • Convenient location in the heart of Dubai with easy access to all areas
  • Innovative Infrastructures
  • Easy to sponsor dependants.
  • Hiring of expatriate workers is easy with limited restrictions
  • Central air conditioning connections to each unit
  • Central gas distribution system to each unit
  • Around the clock security personnel and high tech video surveillance, fire alarms and fire defence systems
  • Hallmarking available from Dubai Municipality for all gold manufactured and sold from the Gold and Diamond Park
  • Excellent retail center facilities and atmosphere, serving tourists and shoppers.

Documents Required to Register Company in Dubai Gold and Diamond Park Free Zone (DGDP)

To set up your company in Dubai, in the  Dubai Gold and Diamond Park Free Zone, free zone, you need all the  following documents listed below:

  • An application form for business setup in DGDP Authorities
  • Passport copies of Shareholders, managers and secretary
  • A description of the company’s activities
  • The company’s articles of association and Memorandum of Association
  • Business Plan
  • Board resolution
  • Manager’s specimen signature

Steps to be followed on registering the company in Dubai Gold and Diamond Park Free Zone (DGDP)

Here are the steps you are required to take for establishing a company in Dubai Gold and Diamond Park :

  1. Decide on a company name
  2. Decide on business activity to obtain the license from the JAFZA List
  3. Lease contract from an authorized individual.
  4. Apply for the required trade licence by submitting the application form complete with all the required details and documents to JAFZA in Dubai.
  5. Fee Payment & Legal Document Submission
  6. Sign and attest Article of Association (AoA), Memorandum of Association (MoA) and leasing agreement by all shareholders
  7. JAFZA will grant a Certificate of Incorporation after reviewing all the documents.
  8. Upon receiving the license, a bank account needs to be opened
  9. After receiving a confirmation from the bank, JAFZA releases the final license for gold trading in Dubai
  10. Apply for the UAE Residence Visa

Cost of setting up a company in Dubai Gold and Diamond Park Free Zone (DGDP):

The cost of licence for the initial business set up in Dubai Gold and Diamond Park (DGDP) would start from approximate 15,000 AED, however, it may depend on other requirement such as your location, business activities, company size, operational costs and the package you select for your company formation.


To make it easier, once you have your business plan ready in your hand, you can always take help from the expert business setup consultants in Dubai UAE, who will help you with every step of the process, from choosing a business activity and company name to registering with the relevant authorities, easily opening corporate bank accounts and processing visa applications.

Deena

Human Resource professional and writer.

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