Dubai Gold and Diamond Park was launched in 2011 and has become the region’s leading business hub for gold and diamond jewellery. The park provides world-class, ultra modern facilities to investors who wish to set up a business.
The quality, as well as a selection of jewellery offered at Gold and Diamond Park, is unmatched anywhere in the world. Some of the world’s best, experienced designers and manufacturers are based at Dubai Gold and Diamond Park. They create the finest, most exotic jewellery, including unique and hard to find pieces.
Dubai Gold and Diamond Park enjoys great support from His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, the Government of Dubai, the United Arab Emirates Ministry of Defense, the Gold and Jewellery Group, the Department of Tourism and Commerce Marketing, and the World Gold Council.
The specially developed Gold and Diamond Mall is one of the finest spots in the park for every tourist as well as a shopper. There are 90 leading jewellery shops along with 118 manufacturing units.
Where is it located?
Located in the centre of new Dubai, at interchange four on Sheikh Zayed Road with over 800 parking lots.
Sheik Zayed Road,
.Describe the kind of businesses here?
- Gold and diamond jewellery
- Health and fitness
- Educational and entertainment
- Banks and financial services
- Exchange Centre
What are the advantages of setting up here?
- Zero corporate tax
- Zero income tax
- Full foreign ownership
- Total capital and profits repatriation
- Located in central Dubai with easy access to all areas
- Impressive retail facilities for shoppers
- Caters the specific needs of the gold and diamond industry
- Hallmarking for manufactured and sold gold at Gold and Diamond Park
- Branding service to influence purchase decisions via advertising methods
- Exclusive events are organized and hosted for jewellers
- Provision of transport to and from Gold and Diamond Park and best hotels
- Support provided for dealing with governmental issues and procedures
- Natural recruitment of expatriates
- Cutting-edge facilities and systems
- 24/7 security and safety systems
- 24/7 facilities and operations
What are the procedures for establishing a business here?
1) Obtain lease agreement from Gold and Diamond Park following the payment
2) On receiving the rental agreement, apply for the JAFZA license at the offices of Jebel Ali Authority
Necessary documents for JAFZA license application:
• Application form
• Partnership agreement or Memorandum of Association
• Copy of license agreement
3) Jebel Ali Free Zone Authority will issue the certificate of incorporation and a letter to the bank chosen by the client for the opening of a bank account.
4) Following the opening of the bank account, the bank will confirm the deposit of the required capital to JAFZA. Then JAFZA will issue the Free Zone license.
5) On receiving the license, the client can request a Letter of No Objection from GDP which should be addressed to JAFZA for the issuing of the employment visas.
6) When JAFZA issues the employment visas, and the employee arrives in Dubai, the medical check-up and paperwork is necessary to stamp the Residence Visa in each employee’s passport.
7) Following stamping of the Residence Visa, the client must apply for ID Cards from GDP to allow access to the park.
8) On the satisfactory completion of the fit-out of the leased facility, the 15% fit out deposit will be reimbursed to the client.
• 15% of yearly rent as refundable deposit.
• 15% of annual rent for fit-out, refundable deposit
• Maintenance charges
• AED 5,500 as licensing fee (GDP’s PRO can handle the application at the cost of AED 2,500 yearly. The client will be entitled to all JAFZA’s services for one year)
• AED 100 per year for ID Card or AED 150 for two years
What is the cost of setting up business here?
The following procedure should be followed to operate as a manufacturer, retailer or a trader at the Dubai Gold and Diamond Park:
1) A lease agreement must be acquired from the management of the Dubai Gold and Diamond Park after the payment of:
• The rent for the unit being rented,
• 15% of the yearly unit rent as refundable security deposit,15% of the annual unit rent as fit out deposit (refundable),
• Maintenance charges if applicable.
What is the distance from various landmarks to this location?
Gold and Diamond Park to Airport – 23.4 km
Gold and Diamond Park to Downtown – 14.4 km