Gold and Diamond Park

Gold and Diamond Park (DGDP) is a unique economic zone and at the same time one of the amazing objects included in the list of tourist attractions. There are all conditions for businessmen to process and trade precious metals and stones. Visitors can simply admire the incomparable beauty of diamonds, rubies, emeralds, jewelry with them, or they can buy their favorite jewelry in one of dozens of retail stores. In any of the numerous workshops for processing precious metals and stones, you can order an exclusive decoration according to a special or even your own sketch. Any wish of the client is fulfilled here!

More about Dubai Gold & Diamond Park

The construction of the Dubai Gold and Diamond Park began in late 1999, was completed in mid-2000, but the opening took place later, in May 2001. Almost immediately, the FEZ turned into a treasury of gold, silver, platinum, some of the world’s best jewelry, precious stones and high-quality accessories. The park consists of two zones: a block of production workshops (118 in total) and a shopping center with 37 jewelry outlets with an area of 363 to 1107 square feet each.

DGDP is a platform for cooperation between professional jewelers and business people engaged in the purchase and sale of precious stones and jewelry made of precious metals. For the convenience of their interaction, 350 premium class offices are equipped in the Park. More than 90 of the world’s leading brands put up for sale their jewelry, the cost of which is often estimated at several million dollars. They also buy and sell gold bullion worth millions of dollars here. The total value of all the jewels collected in this frieze is estimated at tens of billions of dollars. The quality of gold bars and all jewelry produced in the workshops of the zone is confirmed by the stamp of the Dubai Municipality.

Dozens of cafes and restaurants are located in the courtyard. Their menu and soothing atmosphere are ideal for breaks between purchases, a break from the glittering luxury of goods, the conclusion of trade deals and casual conversation.

Advantages of business registration

As in any other free economic zone, Gold and Diamond Park has all the conditions for opening a business, as well as its expansion. Benefits include:

• convenient location, from where it is easy to get to any area of the city;
• assistance in compliance with legal formalities;
• the right to 100% foreign ownership of the enterprise and withdrawal of funds to the homeland;
• absence bureaucratic obstacles in hiring foreigners;
• exemption from income and corporate taxes for 50 years;

• transfer between the Park and 5-star beach hotels;
• luxury furnished office space;
• 24/7 operational freedom;
• well-maintained shopping malls with an appropriate atmosphere of luxury and well-being and customer service at the highest level.

DGDP infrastructure

Production

The choice and quality of products available at Gold & Diamond Park are unparalleled anywhere in the world. Customers can order any kind of jewelry, including their own designs, in any quantity and for any amount. The complexity of the order and the amount of work will not affect its quality and deadlines. After all, DGDP employs the world’s leading master jewelers.

Offices

Three and a half hundred luxury offices located compactly in one building are not just luxuriously decorated pavilions with exhibition showcases of stones and jewelry, shimmering in the rays of spotlights. Office space is a specially created working environment with:

• proper ventilation and air conditioning;
• exhaust devices and acid waste collection;
• central gas distribution system;
• fire alarm and fire protection;
• round-the-clock security and video surveillance.

Retail premises

Gold & Diamond Park serves as a vital link between jewelry buyers and retailers, and is also a popular place where an incredible collection of precious metals and stones is collected. Jewelry brands enjoy unique advantages that enhance their business initiatives, such as, for example, access to a discerning clientele. Special zones with workshop rooms and secure warehouses have been built for them. In turn, retailers of non-fat products, food and beverage stores benefit from the inexhaustible flow of tourists and residents arriving at the mall seven days a week.

Opening a company in Gold and Diamond Park

Any company, firm or retailer can open a commercial or industrial enterprise in DGDP.

Basic requirements

1. The presence of the authorized capital.
2. The organizational and legal form of the company is a newly created sole FZE or FZCO, as well as a branch.

Types of licenses

1. Trading, which allows you to engage in all types of trade.
2. Retail, giving the right to open a retail outlet or lease it. Issued to an individual.
3. Production. Issued to a legal entity or individual to open a company for the production of something.
4. For the provision of services. It is needed to open a company providing professional services.
5. For e-commerce. This is a type of trade license that allows you to sell goods or services over the Internet.
6. National license for industry. Gives the right to organize production anywhere in the free zone.

The validity period of any type of license is 1 year, after which it must be renewed. If the business permit is not renewed within 4 months, it is canceled and a new one will have to be issued to resume commercial activity.

In order to obtain the necessary license for manufacturing, retail, e-commerce, professional services or trading in gold and precious metals, the investor must:

• get a contract agreement in Gold and Diamond Park;
• pay rent for a physical object (office space, retail store);
• get a license after signing a lease agreement.

How much does it cost to start a business

• opening a company will cost 10 000 – 15 000 dirhams;
• obtaining a license – from 5,500 dirhams.

An authorized capital of 300,000 dirhams will also be required.

Registration procedure

To register a business, you need to:

1. Issue a lease agreement.
2. Choose the appropriate license option and apply for it to the Management of the Jebel Ali FEZ (JAFZA). It is it that issues trade and production permits to work in DGDP. The following documents must be attached to the application:
3. Memorandum and Articles of Association (MOA) of the company or partnership agreement;
4. photocopy of the lease agreement;
5. receipt for payment of the license fee.

3. Wait for the results of the application review.
4. In case of a positive response, get a registration certificate and a letter to the bank to open a corporate deposit.
5. Open an account, deposit the required authorized capital into it and receive written confirmation of these actions.
6. The letter from the bank must be provided to the staff of JAFZA. It will be checked and a license permit will be issued.