The UAE has solidified its position as a global trade hub, and the metals wholesale sector is no exception. Renowned for its bustling Gold Souk, Dubai has become synonymous with precious metals. However, the market extends far beyond gold. The nation’s burgeoning construction, manufacturing, and industrial sectors create a consistent demand for a wide range of metals, from aluminium and copper to steel and iron.
This surge in demand has transformed the metals wholesale industry into a highly lucrative venture. With its strategic location, world-class infrastructure, and business-friendly environment, the UAE offers unparalleled opportunities for businesses to thrive.
While established players, including international trading houses and local conglomerates, dominate the market, there is substantial room for new entrants. If you want to set up a Metals Wholesale Business in the UAE, these are the business activities you can choose:
4662.00 – Wholesale of metals and metal ores
Wholesale of metals and metal ores involves buying and selling unprocessed metal ores, refined metals, and semi-finished metal products in bulk quantities to other businesses. This includes ferrous metals like iron and steel, non-ferrous metals like copper and aluminium, and precious metals like gold and silver. These wholesalers act as intermediaries between metal producers and manufacturers, ensuring a steady supply of essential materials for various industries.
4662.01 – Wholesale of ferrous and non-ferrous metal ores
This involves the buying and selling of unprocessed mineral deposits containing metals. Ferrous ores, primarily iron ore, are essential for the steel industry. Non-ferrous ores include copper, aluminium, zinc, lead, and other metal-rich minerals.
4662.02 – Wholesale of ferrous and non-ferrous metals in primary forms
This involves the buying and selling of metals in their initial refined state. Ferrous metals, such as pig iron and steel billets, are the foundation for various metal products. Non-ferrous metals, like copper cathodes and aluminium ingots, are used in diverse industries. Wholesalers in this sector require expertise in metallurgy and metal processing.
4662.03 – Wholesale of ferrous and non-ferrous semi-finished metal products n.e.c.
This involves the buying and selling of metals that have undergone initial processing but still require further manufacturing. Products include metal sheets, rods, wires, and profiles made from iron, steel, aluminium, copper, and other metals. These semi-finished products are essential inputs for various manufacturing sectors.
4662.04 – Wholesale of gold and other precious metals
This involves the buying and selling of precious metals in bulk quantities. Gold, silver, platinum, and palladium are primarily used in jewellery, electronics, and investments. Wholesalers in this sector often have expertise in precious metal refining, valuation, and security.
4662.05 – Wholesale of watches, clocks and jewellery
This business activity involves the bulk purchase and sale of timepieces and jewellery to retailers or other businesses. It encompasses a wide range of products, from luxury watches to fashion jewellery, and requires a keen eye for trends and consumer preferences.
4662.06 – Wholesale of Watches Trading
Specifically focused on timepieces, this business involves the bulk buying and selling of watches of various styles, brands, and price points to retailers. It requires knowledge of watch trends, market dynamics, and supply chain management.
4662.07 – Metal Ores Trading
This involves the bulk purchase and sale of unprocessed mineral deposits containing metals. It encompasses a wide range of metal ores, including iron ore, copper ore, aluminium ore, and other valuable minerals. This business requires a deep understanding of geology, mining operations, global commodity markets, and logistics.
4662.08 – Authentic Antiques, Artefacts & Artworks Trading
This business involves the buying and selling of old, rare, and valuable items with historical or artistic significance. It requires expertise in authentication, valuation, and market trends.
Note that this class specifically excludes the wholesale trade of metal scrap.
Third-party Approval: Business activity 4662.04 requires Police approval and approval from the Security Industry Regulatory Agency (SIRA), post acquiring the license. Business activities 4662.05 and 4662.06 need third-party approval from the Security Industry Regulatory Agency (SIRA), after the license has been acquired.
The other business activities mentioned here do not require third-party approval.
Filing of Economic Substance Returns: This requirement does not apply to the business activities mentioned in this article.
Anti-Money Laundering Compliance: This requirement does not apply to the business activities mentioned in this article.
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