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Gold trading licence under UAE AML rules

Gold and jewellery dealers are DNFBPs under UAE AML law. The company registers on goAML before its first trade.

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Gold bangle set with rubies displayed on a dark stone plinth
Usual route
Mainland or free zone
Extra approval
MoET (AML)
Timeline
Weeks to months
AML
DNFBP, on goAML
At a glance

A gold or jewellery trading company in Dubai licenses with the Department of Economy and Tourism (DET) or a free zone. On either route it is a dealer in precious metals and stones under UAE AML law, supervised by the Ministry of Economy and Tourism (MoET). Registration on goAML comes before trading, and a shop's security set-up needs SIRA approval.

Covers
Gold, jewellery, precious stones and pearls, retail or wholesale
Not covered
Refining, manufacturing and imitation jewellery (separate activities)
Premises
Shop security set-up approved for the specific unit
Timeline
Weeks to months, led by security, goAML and bank onboarding

Which gold trade is yours?

Bullion wholesale, a jewellery shop, loose stones and used jewellery each carry their own licence wording.

Covered

Not covered

  • Covered by Refining, its own activity
  • Covered by Jewellery manufacturing
  • Covered by Fashion jewellery trading

The wording for a shop differs from bullion wholesale, so we match it to the stock you will hold before anything is filed.

Shop or trading desk?

The route follows where your buyers stand, and the AML duties apply in the same way on both routes.

Likely route by where most of your clients are
If most of your clients areLikely routeWhy
The public, at a shop or souk unitMainland (DET)A walk-in shop serving the public points to a DET mainland licence
Traders and refiners in other marketsFree zoneB2B bullion and stone trading is commonly based in a free zone
UAE jewellers buying wholesaleEither routeEither route can supply them, and MoET supervises the AML side on both

A free zone company can reach mainland clients through a DET branch licence or permit (Executive Council Resolution 11 of 2025). MoET supervises dealers in both places, and mainland income can affect QFZP status.

Several free zones license this activity; we match the zone to your visas, office and banking. Compare free zones

Who supervises a gold dealer

DET or the free zone issues the trade licence. For a shop, the Security Industry Regulatory Agency (SIRA) approves the security set-up for the unit, and MoET supervises the company as a dealer from its goAML registration onwards.

  1. Before the licence

    • Trade name and initial approvalDET or the free zone

  2. The licence

    • Trade licenceDET or the free zone

  3. Alongside the licence

    • Shop security approvalSIRA
    • Kimberley Process registration, rough diamondsUAE Kimberley Process Office

  4. After the licence

    • goAML registrationMoET supervision
    • Compliance officer and AML policyThe company, for MoET
    • Corporate bank accountThe bank

We sequence the security approval, goAML and the bank file together.

The cash line for dealers

One figure in the AML regulations decides when a cash sale needs ID and a report. Move the marker to see which side a sale falls on.

The line applies to cash. Card and bank transfer triggers follow current MoET guidance, which we check against your sales model.

AED 55,000, one cash sale or several linked ones

Below the lineCustomer checks stay risk-based, and a run of smaller linked cash sales can still add up past the line.

At or above itThe dealer collects the buyer's ID and files a dealers' report on goAML.

Why banks look closer at gold

Bank viewSpecialist appetite: a sector MoET rates as high risk

MoET rates the precious metals and stones sector as high risk, and banks read the file through that lens. Expect questions on where the money comes from, who supplies the metal, how much trade is in cash and what the AML policy says. A file that answers those before they are asked is easier to review. We prepare the source-of-funds pack, supplier details and the AML policy together, so onboarding starts complete.

AMLThis activity is a designated non-financial business (DNFBP) for AML purposes, so the company registers and reports under the AML framework from the start.

What trips up new gold traders

  1. Trading before goAML registration

    Registration on goAML is mandatory for every DNFBP, and MoET warns that failing to register can bring severe penalties. A dealer that makes its first sales before registering starts its supervision record on the wrong foot.

  2. A large cash sale with no report

    Cash sales to individuals at or above the threshold need the buyer's ID and a report on goAML, and linked smaller sales count together. Staff at the counter need to know the rule from the first day of trading.

  3. A unit chosen before the security brief

    Dubai law treats gold and jewellery shops as a vital sector for security, so SIRA looks at the systems in that specific unit. A unit that cannot take the required systems costs time and fit-out work.

Gold trading licence questions

A question about your plan? Describe your gold and jewellery trading plan and an advisor replies on WhatsApp.

Ask on WhatsApp

Do gold traders in Dubai need to register on goAML?

Yes. Registration on goAML is mandatory for every DNFBP, and dealers in precious metals and stones are DNFBPs under UAE AML law. MoET, which supervises dealers on the mainland and in commercial free zones, warns that failing to register can bring severe penalties. Registration belongs before the first trade, alongside a compliance officer and an AML policy.

Is a jewellery shop in Dubai subject to AML rules?

Yes. A jewellery shop is a dealer in precious metals and stones, so it registers on goAML and applies customer checks on a risk basis. Cash sales at or above the legal threshold, in one sale or several linked ones, need the buyer's ID and a dealers' report. MoET's own guidance names jewellery stores directly.

Can I trade gold from a free zone and sell in Dubai?

Yes, with the right structure. B2B bullion and stone trading is commonly based in a free zone, and MoET supervises dealers there as it does on the mainland. A walk-in shop serving the public points to a DET mainland licence, and a free zone company reaching mainland buyers needs a DET branch licence or permit.

Why do banks take longer to open accounts for gold traders?

Because MoET rates the sector as high risk, and banks apply enhanced due diligence to match. Expect questions on source of funds, suppliers, the share of cash sales and the company's AML policy. Counterparties in high-risk countries draw extra checks under MoET circulars. A complete file shortens the back and forth, though it cannot remove it.

Does a jewellery shop in Dubai need SIRA approval?

Yes, for its security set-up. Dubai law names gold and jewellery shops as a vital sector, and the Security Industry Regulatory Agency makes sure preventive security systems are in place there. The approval is tied to the specific unit, so we check the security brief before the lease is signed.

Related pages

Plan the goAML and security approvals before the first piece goes in the case

Thirty minutes on your stock, your buyers and the unit you have in mind. You leave with the licence wording, the route and the order of the security, goAML and bank work.

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On the call

  1. The activity wording that fits your plan
  2. The route, and the approvals in order
  3. A written scope, agreed before any work starts
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