Most large gold investments are secured in a special gold vault. But it is becoming increasingly popular for gold storage to be done offshore in Dubai’s new DMCC vault.
Dubai is known as “the city of gold”. One fifth of the worlds gold production is managed in Dubai. There are numerous refiners of gold in the UAE, with most of those able to handle large volumes of high quality refined gold. With the gold refining being done in the UAE, storage in Dubai means there are very low transport costs between the mint and the gold vault.
In 2009 the 5th most secure and technically advanced vault in the world was constructed in the Dubai DMCC tax free zone. Unlike other ultra-secure vaults around the world, storage costs are still low thanks to being the largest vault in the UAE. Continue reading “Gold Investment in Dubai – why use an offshore vault”
Because of the demand from businesses wanting to take advantage of the huge opportunities offered by the DMCC zone, the government is extremely strict about whom they allow to setup offices there. It often takes several years and through back ground checks before permission is given. Despite the lack of taxes, the government still keeps a close watch on businesses to ensure money illegal practices such as laundering and trading in “conflict gold” does not occur. This ensures a high level of trust for customers who want to deal with businesses based in Dubai’s important DMCC tax free zone. Continue reading “How to invest in the Dubai DMCC zone”