Lowtax Network

Back To Top

Gold Trading at DMCC

Europe Emirates Group
16 March, 2019

Dubai is strategically located on the world map that connects the growing gold and precious metal trade flows to and from the Indian subcontinent, South East Asia, Europe and Africa. More than 25% of the world's physical god passed through Dubai, which is around $70 Billion in gold trading alone.

Dubai Multi Commodities Centre (DMCC) - the UAE's best free zone is just within the city's limits to cater to the humongous gold trading business via its DMCC vault. Approved by the Dubai Gold and Commodities Exchange (DFCX) for physical settlement against gold and silver features, the DMCC vault is within close proximity to Dubai International Airport, the Al Maktoum International Airport as well as Jebel Ali Sea Port. The vault is also close to major road networks such as the Sheikh Mohammed Emirates Road to Sharjah and Ajman, and Sheikh Zayed Road to Jebel Ali and Abu Dhabi.

The DMCC Vault is also equipped with state-of-the-art security and surveillance system and is patrolled by security personnel 24 hours a day 7 days a week. More so, both short-term and long-term storage rental is available. With its convenient and strategic location, handling small scale to large scale consignments are supported.

The DMCC vault not just caters to the storage of bullion, diamonds and other precious stones, it can also accommodate jewelries, watches and evet art pieces. The vault started its operations in 2009 and known to be the biggest non-sovereign vault in the Middle East.

The vault is managed by word-renowned Brink's Global Services (BGS), a market leader with more than 150 years of operational management, security, logistics and full know-how of vault operations. BGS has been operating since 1859 and is present in 116 countries with 50,000 employees and having a strong fleet of 9000 vehicles.

Apart from the DMCC Vault, DMCC offers office and commercial spaces within Jumeirah Lakes Towers. The minimum requirement for licensing is a flexi-desk within a serviced office or business centre. It is similar to the concept of virtual office.

Among the benefits of having your business in DMCC are the following:

  • Zero tax on income and dividends - being in a tax-free jurisdiction, DMCC offers zero tax on personal income, profits, revenues, and dividends.
  • 100 % Capital repatriation is not restricted - DMCC allows earnings from your trade can be transferred to your home country or elsewhere via online banking or any other approved method.
  • Full foreign ownership is allowed - DMCC allows 100% expatriate ownership of companies registered under its wings.
  • Foreign corporate shareholding structure allowed - DMCC permits local or foreign companies to own shares or put up a branch, subsidiary or representative office.
  • Provision of Dubai Residency Visas - having a DMCC companies enables you to be a resident of Dubai and be able to take advantage of building a substance for yourself by having a residency visa.
  • Provision of Tax Domicile Certificate - Being a registered company under DMCC entitles you to secure a Tax Domicile Certificate for the company and for the residence visa holders sponsored therein.
  • Pre-approved UAE banking facility - A DMCC company is 99% shoo-in with most banks, as it is a preferred company given the highest standard of compliance and regulation.
  • Prestige of having a Dubai based company - Having the Dubai brand earns you the respect of being internationally renowned hub for all businesses.
  • Business networking opportunities sponsored by DMCC - DMCC sponsors events whole year round for its members for business opportunities and networking.
  • Strategic Location - Located on Sheikh Zayed Road connecting two Metro Stations at the heart of Dubai
  • Virtual office option available - the minimum requirement for licensing purpose is a flexi-desk inside a business Centre.
  • Dependable customer support - DMCC gives you online access to its portal for government related services. It also operates a contact center for all your concerns.]
  • Strong business environment - DMCC is home to more than 13,000 businesses, contributing to 10% of Dubai's Gross Domestic Product (GD).

Having said the above favorable business environment, Europe Emirates Group can assist in capturing this market for your business. Europe Emirates Group specializes in setting up companies and has a formidable professional experience specific to gold, precious metals, diamonds and precious stones related business activities.

Being an official partner and appointed partner of DMCC, Europe Emirates Group has incorporated massive volume of gold trading businesses in DMCC and across other jurisdictions worldwide.

Effortlessly situated next to the Almas Tower, the headquarters of DMCC, Europe Emirates Group continues to enjoy recognition from DMCC for its contribution towards growing its portfolio of precious stones and metals sector.

Europe Emirates Group helps you focus on your core business activities as it takes the burden of government relations. Europe Emirates Group does not limit its support on company registration, they can also assist in obtaining industry related approvals from the Dubai Police.

Furthermore, Europe Emirates Group can also connect and get you going with your gold trading by connecting you to Brinx's Global Services. Not many service providers can accommodate you like Europe Emirates Group does they can also introduce you with major banks in the UAE.

An integral part of conducting your business apart from the company registration is having Dubai Residency Visa. Europe Emirates Group provides you with a superb service through its VIP medical checkup and Emirates ID assistance during the visa processing.

Europe Emirates Group provides a full range of industry related services as well as corporate advisory services for all your business endeavors in relation to operations, banking, financials, management, asset protection, and estate planning. For inquiries, you may reach us at http://www.uae-eu.com.


Tags: Dubai


About the Author


Europe Emirates Group

 

« Go Back to Blogs

Blog Archive

Event Listings

Listings for the leading worldwide conferences and events in accounting, investment, banking and finance, transfer pricing, corporate taxation and more...
See Event Listings »