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Business Setup In Dubai Gold & Diamond Park

Business Formation in Dubai Gold & Diamond Park

In 2011, the Gold & Diamond Park was established. It has the features and amenities that can make jewelers and those who have a penchant for jewelry to feel like at home. Nowadays, it houses 90 leading retailers and has a recent expansion of 118 manufacturing blocks and commercial space that allows 350 offices in. This is a good chance for investors to have a business setup in Dubai Gold and Diamond Park.

This Dubai free zone authority has the proper solutions, facilities, and amenities to meet the requirements of businesses from the gold and jewelry industry. They are all designed specifically for this industry.

Business setup in Dubai Gold and Diamond Park, like any other business setup in Dubai free zones, is done through a structured process that is made for the purpose of proper business setup in Dubai free zones. Following the procedures can ensure an easier way of registering and conducting a business setup in Dubai Gold Park without any drawbacks.

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  • Following industries you can setup in Dubai Gold & Diamond Park

    We covers all the following industries, even if your industry not in list you can consult with us we can help you setup.

  • Benefits of Business Setup in Dubai Gold & Diamond Park

    Without a doubt, the UAE is a good place to invest or expand your business. This is probably why business owners conduct business setup in Dubai free zones for the advantages that are found in there. Moreover, business setup in Dubai Gold Park is especially a good choice for the businessmen who are looking to establish a name in a jewellery industry.

    The solutions and facilities that Gold and Diamond Park offer completely meet the needs of the business in this industry. Adding to that, Dubai free zone benefits are also available to be availed by the companies in Gold and Dimond Park.

    • 100% foreign ownership
    • 100% repatriation of capital and profits
    • Hiring of expatriate workers
    • Central air conditioning plant connections to each unit
    • Excellent Location for retail center facilities for serving tourists and shoppers
    • Central gas distribution system to each unit
    • Healthy work environment with proper ventilation systems, exhaust facilities, & provision of acid disposal
    • 24/7 security personnel and video surveillance, fire alarms, and fire defense systems
  • Documents Required for Dubai Gold Park Company Registration

    Requirements for DIFC Company Registration

    • Passport copies of the shareholders
    • Passport copies and CV (resume) of the manager
    • Personal information sheet of each shareholder and manager (template will be forwarded by Farhat Office & Co.)
    • Proof of trade name reservation (part of the process—task of Farhat Office & Co.)
    • Proof of initial approval for the activities (part of the process— task of Farhat Office & Co.
    • Notarized Memorandum of Association (MOA), Article of Association (AOA) (Farhat Office & Co. will draft it for you and will assist you in order to get them notarized by a local notary public); in case the shareholders cannot appear in front of the local notary, they can appoint us (Farhat Office & Co.) as a legal representative so that we will be able to act on their behalf
    • Notarized and attested Power of Attorney appointing Farhat Office & Co. as your legal representative so that they can act on your behalf/on behalf of the shareholders (template will be forwarded by Farhat Office & Co).
    • Lease agreement (a document) showing a physical address for your new business—Having a physical address is mandatory for onshore business in the UAE. The minimum space required is 550 sq. ft. (around 60 sq. m). Your registration agent Farhat Office & Co. can assist you while searching for your physical address. Clients should not enter in any lease contract before we get the initial required approvals.
    • Capital—we suggest a minimum authorized capital of AED 150,000 (USD 41,000 approximately). The capital structure is as follows: 51% to be registered for the name of the local citizen “partner” and 49% to be registered for the foreign partners. This formula can be changed by the Ministry of Economy upon the request of the investors, and the Ministry will look into the matter. The Ministry will assess and evaluate, and they will agree in case the business/the project will add material value to the state/country’s economy. Depositing/paying the authorized capital is not mandatory in most cases.

    Additional Requirement Applicable for Corporate Shareholders (Legal Person)

    • Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin, expressing their intent for establishing a new setup abroad—it must be attested by the UAE Embassy (template will be forwarded by Farhat Office & Co.).
    • Certificate of registration or business license or certificate of incorporation of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
    • Memorandum of Association (MOA) of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
    • Article of Association (AOA) (if any) of your existing company/entity at the place of origin—it must be attested and notarized by the UAE Embassy.

    Note:

    • There are cases that a concerned party may require documents and other requirements
    • In some business activities, such as health care, law firm, education training, transportation, construction and contracting, engineering consulting, etc., no objection and permission will be required as mandatory requirements. If your business requires such pre-approvals and/or permissions, there will be an additional cost and additional professional fee for Farhat Office & Co.

    After your application is approved, the authority will issue an initial approval for your business. The next steps that will be taken are as follows:

    1. Choose a ready-fitted office space from (DOZ) selection that’s the most appropriate size and layout for your business requirements
    2. Or decide whether you’ll require DOZ-regulated contractors for fit-out service for your office or if you’ll be doing that independently

    Then, once the office is finalized, the following steps will be taken:

    1. Lease agreement will be prepared
    2. Office keys can be collected

    After that, we will start the preparation of the legal documents and summation.

    When all the above is complete, your business license will then be issued along with the share capital certificate if the capital is paid in full.

    The procedure of processing your business setup in Dubai Outsource Zone will range from 2 to 4 weeks.

  • Support Services Offered in Dubai Gold & Diamond Park

    FAR Consulting Middle East is one of the leading consulting companies in Dubai that deal with corporate business services Dubai. We assist people who have questions on how to open a business in Dubai.

    We can provide the following services when you let us handle your affairs when it comes to company setup in Dubai:

    • Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
    • Representing the client in front of the authorities
    • Assisting the client in bank account opening
    • Assisting the client in account opening with the Ministry of Labour
    • Assisting the client in account opening with the UAE immigration
    • Assisting the client in leasing a premise as an address for the business
  • Business Setup Cost in Dubai Gold & Diamond Park

    The Dubai Gold and Diamond Park is considered suitable and advantageous to businesses dealing with jewelry and similar products, or for companies that require a premium commercial location for their business. Farahat & Co has experienced consultants that offer suitable advice for business setup in Dubai. The below fee table represents the estimated costs of setting up a business in the Dubai Gold and Diamond Park. Please do contact us for further information for setting up a business of choice.

    Cost for Business setup in Dubai Gold and Diamond Park (DGDP)

    Business Registration and Licensing Cost Fees
    Application Fee AED 525.00
    Knowledge Fee & Innovation Fee AED 20.00
    Registration Fee (Starting from) AED 10,000.00
    Cost by Trade Licence Type (Select one of the following)
    Commercial License Fee (Starting from) AED 5,500.00
    Setting up a branch office AED 5,500.00
    Setting up a Branch of a Foreign Company AED 5,500.00
    Media Association (NPO) (allotted with 1 activity only) AED 7,500.00
    Additional Fees for Business Registration
    Miscellaneous Fees (Electricity & Water connection; Telephone and Fax connection; Name Plate and Office Locks) AED 1,500.00
    Establishment Online Application AED 2,500.00
    Computer Immigration Card AED 2,000.00
    Chamber of Commerce Fees AED 2,200.00
    Visa Processing Cost
    Bank Guarantee / Employee Visa deposit 1.5% of basic salary + one-way ticket
    Emirates ID Application and Medical Test AED 1,240.00
    Employment/Residence Visa (Select one of the following)
    Employment / Residence Visa – In Country AED 4,809.00
    Employment / Residence Visa – Out of the Country AED 4,021.00

    ATTENTION – NOTE

    All fees for government and related authorities are an estimation only, as of on 19th September, 2019. The exact government fees will be determined at the time of submission of the applications. We are obligated to provide our clients with all receipts of government and related agencies against the amount that will be paid. Every amount that will expense for your business registration will be supported by documents. In case of shortage, the client has to repay us. In case of excess, we have to refund the client.

    Our professional fee covers consultation, drafting of legal documents, introducing reliable local citizen service-agent when required, assisting in document notarization from the local notary public, assisting in local bank account opening, and applying to the concerned authorities on your behalf.