DUBAI – The Future of Diamonds
Dubai, known as a home to gold trading is now transformed into a world’s biggest hub of another highly precious product i.e. diamond.
Dubai competed with established diamond hubs by lowering down customs duties to 1% for diamond jewelry.
It is much less as compared to major diamond manufacturer Russia that charges 23% duty with 18% value-added tax.
What is the recent campaign of Dubai to develop the diamond industry?
Dubai has launched a noticeable discount campaign to draw the attention of the global diamond industry by lit up “Burj Khalifa”, recognized as the tallest building of the world.
They displayed wonderful visuals to emphasize the amazing story of diamond creation in Dubai.
The story shows the promising environment and facilities of the city to become a future center for the Diamond trade. Prior to revealing a stone that passed through the laser-cutting process, the story begins with images displaying the configuration of a diamond underground. They ended the show with the phrase “Dubai — the future of diamonds.”
What investors get from this campaign?
To attract investors around the globe, government-owned DMCC, located in the Almas Tower, known as one of the top diamond companies in the world, has cut down new company setup charges up to 50% in the center.
These reduced charges will be applicable till 30th September 2020 for all the businesses related to the diamond industry.
Even, the DMCC offered twelve-month free membership in the Dubai Diamond Exchange to the recently registered companies.
This new discount campaign is encouraging global diamond companies to set up their business activities in Dubai.
DMCC is trying to push the limitations of the diamond trade and heading towards being a leading hub of the diamond.
What makes Dubai favorable to be a Diamond Hub?
Dubai offers connectivity to the entire supply chain regions as it is situated in the heart of the diamond trade zone that makes it the most suitable destination to conduct diamond business.
Dubai offers outstanding facilities under one roof. Investors get everything inside Almas Tower to set up a new business and run it profitably.
The Almas Tower offers the boiling facility that helps clientele to get high-quality diamonds.
The grading labs in the Almas Tower guarantee the precision and accuracy of all diamond jewelry.
Almas Tower is located near the banking sector of the city that helps new companies to get easy financial facilities.
A master vault facility for diamond storage is also available in Almas Tower. The vault is built-in with high-tech safety measures and robot automation to retrieve and store diamonds.
DMCC is known as the leading Free Zone in the world that offers high tax exemptions and 100% company ownership to foreign investors. Also, newly registered companies do not need to pay income tax, carat tax, and get exemption on import duties.
The UAE Kimberley Process headquarters situated in DMCC offers the entry and departure to only genuine diamonds. The Kimberley process helps avoid the conflict diamond flow in the country.
Dubai Diamond Exchange offers entirely equipped, safe, confidential viewing, and operating rooms with advanced infrastructure.
Starting from networking, secure logistics solutions, storage, customs clearance, grading, trading to shipping, and many other facilities are available at this location to successfully develop your new diamond business.
How PMC Solutions FZCO Can Help You to Setup Diamond Business in Dubai?
If you are having an impressive idea and want to turn it into a company set-up in Dubai, PMC Solutions FZCO is at your service.
Our highly experienced team makes the business setup process simple and easy for new entrepreneurs.
Starting from business document preparation, visa applications, banking solutions, and to get government authorities approval, we offer all kinds of services to the client under one roof.
For Free Consultation contact PMC Solutions FZCO +9714 275 6718 What’s app +971 588 631 656 or email – email@example.com