DGDP Setup Costs

At AED 15,200, Dubai Gold & Diamond Park (DGDP)'s business license sits 32% above the UAE freezone average of AED 11,504. This covers your company registration, legal documentation, and regulatory compliance for the first year. Visa sponsorship costs AED 3,600 per person—25% above the UAE average of AED 2,884.

If you're hiring employees immediately, budget accordingly; this scales linearly. Office space runs AED 6,500 annually for a Office, Vault, Workshop, which is 178% above comparable facilities across the UAE (AED 2,338). Don't overlook hidden costs: medical examinations (AED 340), Emirates ID (AED 370), and establishment cards (AED 300) add AED 1,010 to your budget.

Altogether, expect AED 26,310 in your first year setup. For solo freelancers, you might skip visa sponsorship and reduce this significantly.

Setting up in Dubai Gold & Diamond Park (DGDP) follows a structured process that typically takes 7 working days. Start by choosing your business activity — DGDP supports Gem Certification, Jewelry Trading, Luxury Goods, and 1 more categories. Your license fee starts at AED 15,200.

Next, reserve your trade name. Names must comply with UAE naming conventions — no offensive terms, no names identical to existing registered companies. Name reservation typically completes within 1-2 business days.

Submit your application with passport copies, proof of address, business plan, and NOC (if currently employed in UAE). DGDP processes applications through their portal. Select your workspace: office, vault, workshop.

Office costs AED 6,500 annually. Pay your license fee (AED 15,200) and office deposit to proceed. Once approved, DGDP issues your trade license within 7 working days.

Your license is valid for one year from the date of issue. With your license in hand, apply for residence visas (AED 3,600 per person) and begin bank account opening. Banking approval takes 4-6 weeks with standard documentation.

DGDP offers office, vault, workshop options. Your choice of office space directly impacts your total setup cost and the number of visas you can sponsor. Office: A private office space with dedicated infrastructure.

Higher visa quota (typically 5-15+ depending on size), professional reception, and full office amenities. Best for teams and client-facing businesses that need a permanent physical presence. Vault: Workspace option available at DGDP.

Contact the freezone authority for specific pricing and visa allocation details. Workshop: Workspace option available at DGDP. Contact the freezone authority for specific pricing and visa allocation details.

Base price of AED 6,500/year covers the office option. Upgrades are available at additional cost.

DGDP maintains solid banking relationships. Account opening is feasible with most UAE banks, though documentation requirements are more thorough. Expect 4-6 weeks for account activation.

Having a clear business plan and initial deposit ready accelerates approval. DGDP has medium approval (68%) — banks require detailed inventory procedures and insurance. Processing takes 3–4 weeks.

Bring gemological certifications, supplier credentials, and insurance documentation. Islamic banks and wealth management lenders are more receptive. You will need: completed bank application form, trade license copy, passport copies of all shareholders and signatories, proof of address, business plan, initial deposit (typically AED 5,000-50,000), and board resolution appointing authorized signatories.

No freezone is perfect for every business. Here are situations where DGDP may not be your best option. Medium bank approval (68%) — precious metals trading heavily regulated.

High costs: AED 15,200 license + AED 6,500 vault space + insurance. Highest visa costs tier (AED 3,600). 7-day approval timeline.

Strict sanctions screening and KYC requirements for trading partners. Inventory valuation and insurance requirements add overhead. At AED 26,310 total first-year cost, DGDP is not ideal for bootstrapped startups or solo freelancers testing the UAE market.

Consider more affordable alternatives in Sharjah or Ajman if budget is your primary concern. Evaluate your specific needs against these limitations before committing.

Mark your renewal date—typically before your license anniversary—and budget AED 13,680 for license renewal. Starting renewal paperwork 45 days before expiration prevents last-minute complications. Maintain monthly accounting records and file annual audited accounts.

Most freezones mandate dual-language financial statements (Arabic/English). Engage a local accounting firm early; DIY accounting often creates compliance gaps that trigger audit penalties. Banking approval requires solid documentation and may take 6-8 weeks.

Initial deposit requirements vary; confirm minimums with your chosen bank. Common pitfalls: underselling expected revenues (triggers audit escalation), missing visa renewal deadlines (visa cancellation), and failing to update shareholder records. Track shareholder changes immediately—limits are 1–15 shareholders; exceeding triggers reclassification.

Specific to Dubai Gold & Diamond Park (DGDP): License approval takes 7 working days. All diamond and precious metal trading must comply with Kimberley Process and sanctions screening — automatic. Inventory documentation and insurance proof required at setup and annually.

Vault rental agreements must be with DGDP-approved facilities. Annual compliance costs typically run 5-8% of license fees for accounting and audit services.

Prepare these documents before starting your DGDP application. Having everything ready upfront avoids delays — incomplete applications are the most common reason for setups exceeding the 7 working days standard timeline. You will need: a valid passport (at least 6 months validity remaining) for all shareholders and managers; two recent passport-size photos per applicant on a white background; proof of address such as a utility bill or bank statement from your home country dated within the last 3 months.

A brief business plan describing your activities, target market, and projected revenue is required. If you are currently employed in the UAE, you will need a No Objection Certificate (NOC) from your current employer — this is not required for new entrants. For companies with multiple shareholders, prepare a board resolution appointing managers and signatories, and a shareholder agreement defining ownership percentages and rights.

A bank reference letter from your existing bank confirming good standing and account history will be needed for the bank account opening process. All documents must be in English or Arabic. Non-English documents require attested translation.

Some documents may need UAE embassy attestation depending on your country of origin.