Company Formation in Gold and Diamond Park (DGDP)
Dubai Gold and Diamond Park (DGDP), managed by JAFZA and strategically located on Sheikh Zayed Road, is Dubai’s leading free zone for gold and diamond jewelry businesses. Established in 2011 as an extension of the Jebel Ali Free Zone, DGDP caters to jewelry investors and buyers, offering a vibrant retail and manufacturing hub with nearly 100 retail stores, 100+ manufacturing units, and over 300 office spaces. Renowned for its Visitor's Retail Center, DGDP provides a unique shopping experience with a wide selection of gold and diamond jewelry in both pre-designed and custom pieces. The park also serves as a popular destination for tourists, featuring outdoor courtyards, cafes, and restaurants, alongside skilled artisans and designers who create one-of-a-kind pieces. Businesses benefit from 100% foreign ownership, full repatriation of profits, and a tax-free environment, making DGDP a premier location for jewelry and precious metal ventures to grow and thrive.
Benefits of Setting Up a Business in Dubai Gold & Diamond Park
- 100% Foreign Ownership: Enjoy complete ownership without the need for a local sponsor or partner, allowing full control over your business.
- No Corporate or Income Taxes: Take advantage of a tax-free environment, maximizing your profit margins.
- Strategic Location: DGDP provides easy access to major business districts and tourist attractions, making it ideal for attracting both local and international clients.
- Excellent Retail Center Facilities: A vibrant retail atmosphere attracts tourists and shoppers, boosting sales opportunities for jewelry businesses.
- World-Class Facilities: DGDP offers advanced retail and manufacturing spaces, with high-quality infrastructure tailored for the gold and diamond industry.
- Robust Security: 24/7 security personnel, high-tech video surveillance, fire alarms, and fire defense systems ensure a secure working environment.
- Skilled Workforce Availability: The park attracts talented artisans and designers, enabling companies to create unique jewelry pieces with ease.
License Types for Company Formation in Dubai Gold & Diamond Park
- Trade License: This license allows businesses to engage in trading activities, including the import, export, re-export, distribution, and storage of gold, diamonds, and other precious metals and gemstones.
- Manufacturing License: Ideal for businesses involved in the production and manufacturing of gold and diamond jewelry. This license permits the fabrication, assembly, and processing of jewelry items.
- Service License: This license is tailored for companies providing specialized services to the jewelry sector, such as design, repair, and consultancy services related to gold and diamond businesses.
- Industrial License: This license is specifically for businesses involved in industrial activities related to gold and diamond manufacturing. It covers processes like production, refining, and processing of precious metals and stones, supporting large-scale industrial operations.
Permitted activities in Dubai Gold & Diamond Park (DGDP)
- Trading: Import, export, and re-export of gold, diamonds, and other precious metals and stones.
- Gold and Diamond Jewelry Manufacturing: Production and assembly of gold and diamond jewelry.
- Retailing: Operating specialty shops for selling gold, diamonds, and jewelry products.
- Professional Services: Providing consultancy, legal, accounting, and marketing services tailored for the jewelry industry.
Business Setup Process in DGDP
- Choose Company Type: Decide what kind of company you want to set up (e.g., Free Zone Company, Branch, or Professional Services).
- Register Name: Pick a business name and register it according to DGDP rules.
- Get Initial Approval: Apply for initial approval for your business activities.
- Check for Extra Approvals: See if you need any additional permissions for your activities.
- Submit Application: Send your application to set up the company with all required documents.
- Prepare Documents: Gather necessary documents like passports and business plans.
- Receive License: Get your official business license to operate.
- Apply for Visas: Request visas for yourself and your employees.
- Open Bank Account: Set up a business bank account in the UAE.
- Start Business: Begin your business operations in DGDP.
Essential Documents for Setting Up a Business in Dubai Gold and Diamond Park (DGDP)
- Passports: Copies of the passports of all shareholders.
- Board Resolution: A resolution from the board regarding the establishment of the business in DGDP.
- Manager’s Documents: A copy of the passport and resume of the designated manager for the business.
- Memorandum of Association (MoA): A document outlining the company's structure and purpose.
- Articles of Association (AoA): A document detailing the rules for operating the company.
- Lease Agreement: A rental or lease agreement for your office and commercial space.
- Power of Attorney (POA): If using a business setup service like Reyson Badger for assistance, a power of attorney document may be required.
- Parent Company Documents: For branch offices, include the company license and business registration documents of the parent company.
Conclusion
Dubai Gold and Diamond Park (DGDP) is an exceptional choice for establishing a business in the thriving gold and diamond industry. With its strategic location, comprehensive support, and tax-free environment, DGDP offers unparalleled opportunities for growth and success. Whether you're involved in trading, manufacturing, or providing professional services, the facilities and benefits available at DGDP are tailored to meet the needs of jewelry businesses, making it an ideal hub for both local and international investors.
Why Choose Reyson Badger?
Reyson Badger is your trusted partner for business setup in Dubai Gold and Diamond Park. Our experienced team specializes in navigating the complexities of company formation, providing personalized guidance and support at every step. With in-depth knowledge of local regulations and a commitment to your success, we simplify the entire process, from initial approvals to obtaining necessary licenses. Choose Reyson Badger for a seamless business launch and the tools you need to thrive in one of the most dynamic markets in the world. Let us help you unlock the full potential of your jewelry business in DGDP!
