Activity guide / Precious Metals & Luxury
Precious Metals Trading business setup in the UAE
Trading bullion, silver, platinum and related products, often with vaulting and logistics arrangements.
Plan this activityBy Two Pillars Advisory. Sources last checked 2026-10-23. Independent guidance, not authority advice.
Understanding precious metals trading
Precious metals traders deal in bullion and unworked gold, silver and platinum. AML registration, responsible sourcing and reporting duties are central, and banks examine supply chains closely before onboarding. Many traders keep metal in third-party vaults and focus licensing effort on the AML programme and documented supplier relationships.
DMCC is a widely used free zone for bullion trading. Its official business setup information is linked below.
At a glance
- What the activity covers: Trading bullion, silver, platinum and related products, often with vaulting and logistics arrangements.
- Activity type: Trading with compliance obligations
- Likely jurisdiction context: Regulated
- Possible external approvals: AML registration, responsible sourcing and reporting obligations commonly apply to precious metals dealers.
What you offer matters.
What this activity covers
Trading bullion, silver, platinum and related products, often with vaulting and logistics arrangements.
A plain-English label, not an official activity name or code.
Boundaries & approvals to check
AML registration, responsible sourcing and reporting obligations commonly apply to precious metals dealers.
Unverified supply chains.
Your independent consultant: Two Pillars Advisory
Two Pillars helps you define the business model, compare routes and prepare an application. We are an independent consultancy, not a licensing authority.
The licence issuer / regulator: the competent authority
The competent licensing authority decides the permitted activity scope and issues the licence. A sector regulator may separately assess and authorise regulated services. Neither decision is made by TPA.
Choose around your operations.
Expect DNFBP registration, goAML reporting and sourcing policies alongside the trade licence.
For precious metals trading: AML registration, responsible sourcing and reporting obligations commonly apply to precious metals dealers.
Confirm the local operating route
Describe where customers, staff, premises and goods will be located. Ask the mainland issuer and any proposed free zone to confirm the exact scope and any permissions for operating outside the zone.
Map delivery across borders
Describe where the service is delivered or goods move. Confirm entity scope, destination requirements and any UAE local operations separately; international customers do not establish free zone eligibility.
Check the sector perimeter first
Describe the actual service, product and client type to the competent regulator. A commercial registration alone does not establish authorisation to deliver regulated services.
| Decision point | Mainland | Free Zone | Sectoral approvals |
|---|---|---|---|
| Who decides? | Competent emirate licensing authority | Proposed free zone licensing authority | Competent regulator, where applicable |
| Permitted operating scope | Requires case-by-case confirmation | Requires case-by-case confirmation | AML registration, responsible sourcing and reporting obligations commonly apply to precious metals dealers. |
| Premises, people & documents | Confirm for the selected activity | Confirm for the selected activity and zone | Confirm against the regulated service or product |
| Fees & timing | Obtain a current itemised quotation | Obtain a current itemised quotation | Confirm if a separate application applies |
From scope to application.
- Map suppliers and refineries.
- Register for AML reporting.
- Adopt sourcing due diligence.
- Prepare banking documentation.
Illustrative planning sequence; the authority may require a different application order or additional steps.
Common mistakes worth avoiding.
- Unverified supply chains.
- Weak record keeping.
Authority information, independently explained.
Published by Two Pillars Advisory. References last checked 2026-10-23; each source’s check date and jurisdiction are shown below. Review is limited to the cited activity scope, not an approval or universal licensing assessment. Confirm current requirements directly before applying.
No affiliation, partnership or endorsement by the authorities listed.
- Ministry of Economy and Tourism: Dealers in Precious Metals and Precious Stones: DNFBP and responsible sourcing framework. Dealers in precious metals and stones fall within the DNFBP anti-money-laundering framework. These obligations sit alongside the commercial trade licence and are not a substitute for it. (UAE, checked 2026-09-12)
- DMCC: Business setup. Official DMCC business setup information. Listing does not imply suitability for every model. (DMCC free zone, Dubai, checked 2026-10-23)
- Invest in Dubai: Search business activities. Official Dubai activity search. Final activity wording and code must be confirmed here or with the licensing authority before filing. (Dubai, checked 2026-09-12)
- Dubai Department of Economy and Tourism (DET): Business licensing. Official Dubai business licensing information, including licence types and permit requirements. (Dubai, checked 2026-09-12)
Before you take the next step.
Why do banks ask for sourcing documents?
Bullion is high-risk for money laundering, so banks need clear supply chain evidence.
Is a vault required?
Not always. Many traders use third-party vaults.