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Gold and Diamond Park is a purpose-built jewellery and precious-metals hub on Sheikh Zayed Road in Dubai, near the Al Quoz interchange. On the ground floor it is a retail destination, with dozens of jewellers, goldsmiths and diamond dealers under one roof, where shoppers buy gold, gemstones and custom pieces. Above and around that retail floor sit offices, manufacturing units and showrooms used by the businesses that trade there.
So it is two things at once, and that is exactly where the confusion starts. If you searched for it as a shopper, you want the mall. If you searched for it as a gold or jewellery trader, you are really asking a different question: is this a place I should base my company, and what does that cost me? This piece answers both, and gives the trader the part most pages leave out.
Is it a shopping mall or a business zone? It is both
Most articles describe Gold and Diamond Park as a shopping mall and stop there. That is the visible half. The half that matters if you are setting up a business is that it is also a licensed free zone community, meaning traders here hold a free zone company licence, not just a shop tenancy.
That distinction is the whole point for a trader. A retail address in a normal mall gives you a lease. A free zone address gives you a legal entity, an activity on your licence, and a jurisdiction that governs how you trade, get visas and open a bank account. Gold and Diamond Park is the second kind, which is why the entry cost and the compliance around it are heavier than a shopfront tenancy would suggest.
How Gold and Diamond Park sits under DMCC
Here is the detail competitors gloss over: Gold and Diamond Park is managed under DMCC (the Dubai Multi Commodities Centre). DMCC is one of the UAE's largest and most established free zones, and it is the authority behind the precious-metals and diamond trade in Dubai.
That relationship has real consequences for a trader:
You inherit DMCC-level entry costs, which sit higher than the leaner free zones.
You inherit DMCC-level compliance and due diligence, which is significant for gold and precious-metals activities specifically, because those sectors attract enhanced scrutiny by design.
Your registered address carries DMCC's reputation, which can genuinely help with certain clients and banks.
We should be straight with you on one thing here: Gold and Diamond Park is not one of the four zones we register clients into directly. Those are UAQ FTZ, Ajman Free Zone, IFZA and Meydan. Gold and Diamond Park sits under DMCC, so we handle it as part of the conversation rather than as a fixed package, including telling you honestly whether it is the right home for your licence or whether a different zone banks you faster and cheaper.
Who sets up a gold and diamond park business, and why
The businesses that base themselves here tend to be:
Jewellery retailers and goldsmiths who want footfall from shoppers who come specifically to buy gold and diamonds.
Gold and precious-metals traders who value being inside Dubai's recognised bullion and diamond ecosystem.
Diamond dealers who benefit from proximity to the DMCC trade network.
Manufacturers who need workshop or production space alongside a showroom.
The common thread is that the address itself is part of the product. A jewellery buyer trusts a Gold and Diamond Park dealer differently to one operating from an anonymous unit. For some businesses that trust is worth paying for. For others, a trader invoicing international clients who never visit, the prestige address adds cost without adding much. Knowing which camp you are in before you commit is where most of the money is saved or wasted.
What it actually costs to base a jewellery business here
This is the part where we will not guess. Gold and Diamond Park pricing runs on DMCC's fee structure, and we will not put a DMCC setup figure on this page that we cannot source and stand behind, as a fabricated cost helps nobody. A consultant confirms your exact DMCC figure directly, based on your activity, your visa count and whether you need retail, office or workshop space.
What we can give you honestly is the comparison. The zones we register directly start considerably lower on entry cost:
Freezone entry, starting prices (our four zones)
UAQ FTZAED 8,650
MeydanAED 15,670
IFZAAED 16,050
Ajman Free Zone is priced per application, so a consultant quotes it for you. Every figure above is a starting estimate drawn from that authority's own fee list, meaning your exact price depends on your activity and visa count. None of them are Gold and Diamond Park prices, they are the alternatives you are weighing it against.
On tax, the rules are the same wherever you register: corporate tax is 9% on net profit above AED 375,000, for financial years starting on or after 1 June 2023, per the Federal Tax Authority. A free zone company may access a 0% rate on qualifying income, but that relief has substance conditions and still requires you to register and file, so treat it as something to establish for your structure, not assume.
If you want to see how the licensing side works across zones before you decide, our free zone company formation service lays out what is included and what a real quote looks like.
Banking: why a gold-trading company gets heavier scrutiny
This is where gold and jewellery traders get caught out, and it is the single most important thing on this page.
UAE banks apply strict KYC and AML obligations to every account. For gold, diamonds and precious metals, that scrutiny is heavier, as these are high-value, cash-adjacent activities, so compliance teams ask harder questions about source of funds, transaction profile and beneficial ownership. A jewellery-trading company that submits a vague file gets stalled or rejected, regardless of how good the business is.
A DMCC address does not remove that scrutiny, and in some cases the activity itself invites more of it. So the real question is not just which zone has the best address, it is which zone actually gets a gold-trading company banked, and how do I present the file so it clears.
That is the part we do for a living. We will not promise you an approved account, as no honest advisor can, because the decision rests with the bank. What we can tell you is true and stronger: we have named account-opening officers at 10+ UAE banks and we have opened 1,000+ accounts, so we know what each bank's compliance team will ask a precious-metals trader, and we build the file to answer it before it is raised.
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Is the address worth paying for, or does another zone open your account faster?
Here is the honest answer, because you came for it.
Sometimes the Gold and Diamond Park / DMCC address is worth every dirham, as a diamond dealer trading into the DMCC network, or a retailer who needs the footfall and the credibility, gets real commercial value from it. Sometimes it is the opposite: you pay a premium entry cost, take on heavier compliance, and get an account no faster than you would have got from a leaner zone we place clients into directly.
Which one applies to you depends on who your clients are, whether they will ever visit, and which bank is realistically going to open your account given your activity. That is not a question a price list answers, it is a fifteen-minute conversation. We will tell you plainly whether the prestige address earns its cost in your case, or whether a cheaper zone gets you banked and trading sooner.
Get your exact price and the fastest route to a banked jewellery company, one free call, no obligation. → Get my quote
How to choose the right free zone for a gold or jewellery licence
The decision comes down to four things, in this order:
1Where your clients are and whether they will visit, which tells you whether a prestige address earns its cost.
2Which bank will realistically open your account, as for gold traders this often matters more than the licence fee.
3Your entry budget and visa count, because the gap between a lean zone and a DMCC address is real money.
4Whether you need retail, showroom or workshop space, as physical requirements narrow the field fast.
We have written a full comparison to help you weigh this up: the best free zone for a gold or jewellery trading licence in the UAE walks through the options side by side, including where a gold-trading company banks fastest. Read that next if you are deciding where to base your licence.
Frequently asked questions
Where is Gold and Diamond Park located in Dubai?
It is on Sheikh Zayed Road in the Al Quoz area of Dubai, near the Al Quoz interchange, a short drive from central Dubai and well signposted from the motorway.
Is Gold and Diamond Park a free zone?
Yes. It is a free zone community managed under DMCC (the Dubai Multi Commodities Centre), so businesses there hold a free zone company licence, not just a retail tenancy.
Can I set up a jewellery or gold trading company at Gold and Diamond Park?
Yes, it is built for exactly that. Because it sits under DMCC, setup runs on DMCC's fee structure and compliance requirements, which are heavier than the leaner zones. It is not one of the four zones we register directly, so we confirm the exact cost and route with you in the conversation, and tell you honestly whether it is the right home for your licence.
Is Gold and Diamond Park just a shopping mall?
No. The retail floor is the visible part, with dozens of jewellers and gold dealers where shoppers buy. But it is also a licensed free zone community with offices, showrooms and manufacturing units used by the businesses trading there.
What are the opening hours of Gold and Diamond Park?
Retail hours vary by tenant and by day, and can change during Ramadan and public holidays, so we will not quote a single time here, check with the individual jeweller or the centre before you visit. The business-licensing side runs on DMCC's own administrative schedule.
Is it cheaper to trade gold from Gold and Diamond Park or another UAE free zone?
Usually another zone is cheaper to enter. Gold and Diamond Park carries DMCC-level entry costs, while the zones we register directly start lower: UAQ FTZ from AED 8,650, Meydan from AED 15,670, IFZA from AED 16,050 (Ajman Free Zone is priced per application). Whether the cheaper zone is the right choice depends on your clients and your banking, which is exactly what we will work through with you.
Do I need a physical shop to get a licence at Gold and Diamond Park?
Space requirements depend on your activity and the specific unit type, whether retail, office or workshop. We will not state a minimum size we cannot source, so a consultant confirms exactly what your licence needs, and whether a different zone with a lighter physical requirement suits you better.
Ready to base your gold or jewellery business in the right zone? Book a free 15-minute call and we will tell you the right zone, the real cost, and the bank most likely to open your account: get your exact price now.
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