Gold Trading in Dubai: How To Import Gold in Dubai?

Volume of gold traded in Dubai has been growing at a rate of 13 percent year on year. It also represents a way to overcome any weakness in the US economy since the dirham is pegged to USD.

Hence gold is often seen as a safe haven compared to fiat currency.

Dubai has been the world’s highest exporter of gold and hence you can see that gold trading business is a lucrative one with many key players operating from here.

The Dubai gold souk used to be the main hub and location for businesses during the old days but now investors have many options and more high-tech and secure location to conduct their businesses from.

As with any startup you would have to be suitably licensed for the import and export of gold.

For this we can go with the Mainland option, popular for retail outlets and also if you are mainly into wholesale the Dubai Multi Commodity Centre – DMCC free zone will be the ideal location.

DMCC accounts for the bulk of the business of gold trade in Dubai, it is also home to the Dubai Gold and Commodities exchange (DGCX), a huge network of wholesalers and gold refineries.

Gold being a high value commodity also needs a secure form of https://www.blogger.com/u/1/blogger.g?blogID=8193748353608063934#editor/target=post;postID=1571962584125006150storage, DMCC houses a high security vault managed by Brinks to store your precious metals.

Trading in precious commodity like gold is regulated by the Security Industry regulatory agency (SIRA).

Meaning this is part of the preapproval stage before the trade license as the registered address of the business must be approved by SIRA and they will be the ones to mandate any modification like security camera, burglar alarms to be done.

This of course also depends on the business model and how they will be operating.

Once you have your license issued by DMCC or the Department of Economic Development (DED), you can start trading in gold.

Trading in gold is not just limited to holding physical gold, there are other options like CFD, Futures where physical gold is not actually handled or taken possession of, rather the transactions take place electronically and only profits or losses are reflected in the trading account.

For all your queries on Gold Trading Business in Dubai log on to www.pmcsolutions.me or e-mail at setup@pmcsolutions.me

PMC Solutions DMCC is a Corporate Business set up company specialized in designing & providing customized solutions and consultancy services for Business Setup, and Family Residency for foreign and local investors, willing to setup and grow their businesses in Dubai or entire UAE.

PMC Solutions has been established to provide complete company formation & registration, business setup, administration and management services in all major jurisdictions around the world, notably in Dubai, UAE where it is revolutionizing the concept of Offshore and Free zone Incorporations.

Dubai Expo 2020 – Why Now, Is The Time To Invest In A Start-Up

With the launch of new government incentives by Dubai, 2019 will be the best time for startups.

With the advent of Dubai Expo2020, the economy of Dubai is predicted to grow with exciting business opportunities for new entrepreneurs.

Some of the new initiatives have been specifically targeted to female business owners and young entrepreneurs.

With the launch of latest government initiatives like five year visas, 100 percent foreign ownership outside free zone and 10 years visas for certain category of professionals, business owners and investors –

Here are few points as to why Dubai is the ideal location for startups in 2019.

Fast Growing Economy

In October last year the International Monetary fund forecasted the economic growth of UAE from 2.9 percent in 2018 to 3.7 percent in 2019.

Several factors have contributed to this in relation to improving oil production and price of oil. Which in turn has allowed the government to increase its budget of $55 billion.

The UAE government has also allocated a budget of $60 billion which will be put into infrastructure, health and education sector.

A strong economy will of course attract investors and entrepreneurs to expand their operation and attract well experienced talents.

Visa for older expats

Another brilliant initiative that was introduced in 2019 was the extension of the UAE residency visas after retirement.

This is will provide a relief to especially older professionals to remain in the UAE and become business owners. The visas will be valid for 5 years.

This will attract seasoned investors and professionals to reside here and make UAE their home.

Opportunities for Expo 2020

The attraction of approximately 25 million during Expo2020 will also give rise to a demand for companies providing ancillary service for the event.

This will benefit the hospitality industry, events company and firms providing supplies and advertising material.

It will be up to businesses on how they can utilize these influx of visitors and convert them to business and in turn this will also boost the economy.

100% Foreign Ownership

The introduction of 100 percent foreign ownership in certain sectors will also attract many foreign entities to make UAE their business hub. This also falls in tandem with the 10 year visas for certain category of professional, business owners and investors.

This will result in allowing owners to plan better and give more emphasis on training local talent.

Young Talent

The visa system will also provide a next generation of new entrepreneurs and professionals to the UAE which will definitely boost the labor market.

Also new 5 and 10 year visas for brilliant student and post graduates will boost this factor.

New initiatives like Expo 2020 Youth Connect schemes aims to attract young students to become leaders and innovators of tomorrow.

The UAE youth programme targets 21 to 30 year old to become innovative in business through education.

The economy of UAE is undeniably predicted to grow with the launch of multiple initiatives from the UAE government. 2019 will be the right time to setup your business in Dubai .

For more information log on to www.pmcsolutions.me

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Opening a Marketing and Advertising Company in UAE

Marketing intelligence have predicted 4.3% rise in global advertising spend in 2019; the strongest growth since 2011.

The ads income of online giants like Google and Facebook is expected to rise 22% and will make for a market share of 61.4% combined.

http://blog.pmcsolutions.me/opening-a-marketing-and-advertising-company-in-uae/Traditional media excluding print have fared admirably well even though print publishers have been hit with many brands moving to online marketing.

The UAE is the top GCC country for advertising spend which includes online, outdoor and newspaper based.

With the Expo 2020 very close to inauguration, one of the ancillary industries to benefit from this event will be the marketing and ad industry. Also in terms of hiring, this industry has recently seen a rise in the UAE.

This indeed is the right time for new entrepreneurs and companies to venture the UAE market.

Your new business license can be registered through a mainland structure with a UAE national partner or if you would want something with a 100% foreign ownership then a free zone company would suffice.

The National Media Council (NMC) are the authorities who regulate anything related to Media and Advertising in UAE and hence a pre-approval would be required from them before a final license is issued. Your consultant would be able to assist you with this process.

A suitable registered office is also mandatory; so you may opt for a standalone service office for a Mainland company or an office, flexi-desk provided in the case of a free zone.

If you would be targeting government agencies for business, it would be recommended to have a Mainland company in place else a free zone company will suffice. If you would want to incorporate a company and keep your initial overheads low, again free zone companies will be a recommended option for startups.

For more details log on to www.pmcsolutions.me or email at setup@pmcsolutions.me

PMC Solutions DMCC is a Corporate Business set up company specialized in designing & providing customized solutions and consultancy services for Business Setup, and Family Residency for foreign and local investors, willing to setup and grow their businesses in Dubai or entire UAE.

PMC Solutions has been established to provide complete company formation & registration, business setup, administration and management services in all major jurisdictions around the world, notably in Dubai, UAE where it is revolutionizing the concept of Offshore and Free zone Incorporations.

#PMCSolutionsDMCC #Freezone #BusinessSetup #CompanyFormation #entrepreneurmindset #businesswoman #PMCSolutionsDMCC #CompanyRegistry #DubaiBusiness #BusinessConsultants #businessservices #dubai #businessregistration #investors #entrepreneur #entrepreneurs #entrepreneurmindset #businessowner #llc #startup #startupbusiness #freezone #taxes #company #idea #investor #businessideas #expo2020 #consultant

Starting a new company can seem to be a daunting task for many new startups, especially in the UAE since there are so many jurisdictions.

Each of these are different in their own way with regards to documentation, requirements and procedures. Also, the cost for setting one up varies from one to another.

Often many new investors without much research; purely based on saving some money set out to do the process themselves. In the end, they find that it is not so easy if the free zones are not centrally located or they have a complicated process.

Some investors do approach consultants who will basically charge nothing for their consultation and often mislead clients with the information and prices just to engage them. This can lead to one having obtain a license or company which might not suit their purpose.

As it is also not possible to change jurisdictions from one to another, you can find yourself in the wrong end of the deal and end up spending more trying to find a suitable solution.

Finding the right expert is very essential for all new startups especially small businesses since they have limited budgets and need the correct guidance and advise.

The more established consultants may charge more than your normal documents clearing shops, but you can be confident of the information and solutions you receive.

With the ever-changing model of doing business worldwide, this has also bought in new dimensions where not just the licensing matters.

Factors like jurisdiction, banking solution, taxation, withholding tax, Value Added Tax (VAT), residency status, Tax domiciliation, succession plan and others can make or break a business if not planned carefully.

Therefore, consulting a capable corporate services expert would be the first step when venturing out to setup a business.

For all your company registration requirement log on to https://www.pmcsolutions.me/business_setup/

By : pmcblog

http://blog.pmcsolutions.me/why-do-small-businesses-need-dubai-company-registration-experts/