guide to dubai gold and diamond park dgdp free zone
- Author- Dubai Visa Online
- Publish Date-
When you have the finest attractions and the treasures of the finest jewels in the world in Dubai, then it is truly the abode to visit. The Dubai Gold and Diamond Park (DGDP) Free Zone is the way to be at for your new ventures. DGDP was founded in 2011 grounded on the Sheikh Zayed Road. It has also become the most amazing spot, attracting a lot of eyeballs to itself of all the visitors from all across the world.
The Gold and Diamond Park has the magnanimous collection of the spectacular jewelry, silver, platinum, gold, gemstones, and many other esthetic jewelry and ornaments. It was created with the main goal to make sure that all the precious jewels and stones are provided to the people from all across the globe under a single roof. It also makes it hustle free for all the customers for the gold and the diamond trading here.
It gives them access to the amazing services to:
- The manufacturing block which has 118 manufacturing units in it.
- The retail center is a blend of 37 retail units and approx. 323 sr. ft. to 1107 sq. ft. each. All these are accordingly leased out.
The construction of the Park started on 21st November 1999 and it got its final shape and completion on 31st July 2000. It got officially opened up on 29th May 2001.
What are the advantages of setting up a business in Dubai Gold and Diamond Park (DGDP), Free Zone?
- The complete freedom of foreign ownership.
- The assistance for all the tenants who will face government-related issues.
- Exemption from the Personal Tax and Personal Tax.
- Operational freedom for 24/7
- 100% return on the profits and the capital.
- The best location in the heart of Dubai which has access to all the areas.
- You have the complete opportunity to hire the desired employees in the foreign alignment.
- 27*7 video surveillance, security personnel, fire defense system, and fire alarms.
- Healthy work environment which features the ventilation systems, acid waste disposable waste collection, and also exhaust facilities.
- Plant connections are with the central-AC and central gas distributing system.
- Hallmarking who would be allotted by the Dubai Municipality after the regular.
- Also, it provides you the best retail center services which are capable of serving a humungous chunk of people from all across the world majorly the shoppers and the tourists.
- The Gold and Diamond Park Dubai and the 5-star beach hotels would be easily connected through shuttle transport.
What are the types of Licenses allowed in Dubai Gold and Diamond Park (DGDP) Free Zone?
Trading License: gives the holder the authority to perform any sort of trading activity in this free zone Dubai Gold and Diamond Park.
Retail License: gives the holder the authority to set up the retail outlet by leasing it in the 'Dubai Gold and Diamond Park Free Zone'.
Manufacturing License: allows the holder to carry out any manufacturing activity.
Service License: allows the holder to provide the professional services in this free zone of Dubai of the Gold and Diamond Park.
E-commerce License: allows the holder to sell the commodities and provide the services online through a website platform.
National Industrial License: it allows the holder to set up an industry anywhere in this Dubai Gold and Dubai Diamond Park free zone.
What is the process to set up your business in Dubai Gold and Diamond Park (DGDP) Free Zone?
- First, you need to have a lease agreement from the management authority assigned to the Gold and Diamond Park.
- Then you need to decide what type of license you have to acquire.
- Then after deciding the type of the license, you need to fill the application form and then submit it with all the important and essential documents supporting it.
- The documents would be submitted to the Jebel Ali Free Zone Authority (JAFZA), Dubai.
- The documents you need to submit are the MOA (Memorandum of Association), AOA (Article of Association) of the firm, or the partnership agreement deed if your firm is a partnership firm, the lease agreement photocopy and the licensing fee payment proof.
- After you have submitted the documents required then the JAFZA will review the same and analyze accordingly.
- JAFZA will then issue you the Certificate of Incorporation and a Letter of Incorporation which you have to submit to the bank.
- You have to submit the certificate and the letter to the bank where your corporate account is settled.
- The bank will then return the issue the letter of confirmation for the deposit that you have made in your particular bank.
- The deposit to the bank is the minimum share capital of your company. It is followed by the guidelines of the authorities.
- Then after all these processes, you need to submit the letter of the confirmation to the JAFZA personnel.
- Then finally, JAFZA will review the documents and then issue your business license and plan.
So, this is all you got to know before your set up your business in the Dubai Gold and Diamond Park (DGDP) Free Zone. You have your proper guide for all the documents required, the benefits of applying and setting up here, and also the complete process of how to apply or the same. What’s the wait for then? plan your idea with this guideline and make your business flourishing soon.