Jewellery retail in Dubai carries a genuine regulatory layer beyond standard retail licensing — if you're dealing in precious metals or stones, you're very likely classified as a Dealers in Precious Metals and Stones (DPMS) entity under UAE anti-money laundering law, with real, active compliance obligations.
Licensing
A jewellery retail business licenses under a jewellery/precious metals trading activity through DET, or the equivalent in a free zone — the Dubai Multi Commodities Centre (DMCC) in particular is a natural fit given its established role as a global gold and precious metals trading hub, though standalone retail jewellery shops operate successfully across mainland Dubai and other emirates too.
DPMS classification and AML obligations
Under Cabinet Resolution No. 134 of 2025, businesses regularly trading precious metals and stones are classified as Designated Non-Financial Businesses and Professions (DNFBPs) — specifically Dealers in Precious Metals and Stones (DPMS) — once a single or linked cash transaction reaches AED 55,000. This isn't a narrow category limited to wholesale bullion traders; it applies broadly to jewellery retailers, gold traders, and diamond merchants, including e-commerce sellers of these goods. If your business fits this description, you need to register on the goAML platform, appoint a compliance officer, run customer due diligence, and file Dealers in Precious Metals and Stones Reports (DPMSR) for transactions crossing the threshold.
This isn't optional paperwork
The Ministry of Economy and Tourism actively supervises this sector and has run inspection campaigns specifically targeting jewellery and precious metals businesses — dealers get flagged for missing goAML registration or an unnamed compliance officer before an inspector even reviews individual transactions. Banks have also started requiring AML registration proof before opening or maintaining business accounts for DPMS-classified firms, meaning this compliance isn't just a regulatory formality — it affects your ability to bank normally.
Record-keeping
DPMS entities need to retain customer identification and transaction records for a minimum of five years, retrievable promptly on regulatory request — build this into your record-keeping systems from day one rather than retrofitting it later.
Costs and next steps
Given the DPMS compliance obligations here, budget for AML compliance setup (goAML registration, a designated compliance officer, and appropriate policies) as a genuine cost of doing business, not an optional add-on. Model your base licensing cost with the Business Setup Cost Calculator, and confirm your exact activity classification with the Trade Licence Activity Finder.