Multi-currency and FX account for precious metals and bullion dealers with a UAE company

We begin by thoroughly mapping your specific currency corridors, expected FX volumes, and the jurisdictions of your key counterparties. This detailed analysis allows us to identify and select suitable international banks or EEA-licensed EMIs with an appetite for the precious metals sector. We then prepare a robust Know Your Business (KYB) pack, including a detailed flow-of-funds narrative that clearly explains your business model and transaction patterns.

Our team manages the introduction and onboarding process, working closely with your chosen provider to streamline account issuance. We also assist in scoping FX handling solutions and securing backup providers to ensure continuity of service, a critical element for high-value transactions characteristic of bullion trading.

Underwriters and compliance teams scrutinise several key areas for UAE precious metals dealers. They meticulously review your proposed currency corridors, the jurisdictions of your counterparties, and anticipated FX volumes to assess risk exposure. A strong focus is placed on identifying any sanctions exposure or links to high-risk geographies. The residency of your Ultimate Beneficial Owners (UBOs) and the nature of your commercial contracts are also key considerations.

Furthermore, providers will examine your dealer registration and AML policies to ensure full regulatory adherence. The origin of metals is rigorously checked, as Xavion Capital will not accept profiles involving unverified-origin metals. Demonstrating robust compliance frameworks is essential for a successful placement.

Operating as a UAE free zone company or mainland LLC significantly influences account placement. Local banks typically require demonstrable UAE substance, such as an office lease or Ejari, and a resident manager. For newer or smaller entities, international banks and specialist payment institutions are often more accessible and can fill this gap, offering accounts in AED, USD, and EUR.

Key entity documents required include your trade licence, Memorandum of Association, and the Emirates ID of your manager. Corporate tax registration and maintenance of a UBO register are mandatory reporting requirements. Compared to jurisdictions like the BVI, the UAE’s focus on visible economic substance and regulated financial free zones tends to enhance credibility with international providers.

Accounts for precious metals dealers are often declined or closed due to insufficient clarity on fund flows, inadequate AML controls, or perceived high-risk counterparties. High ticket sizes and the cash-equivalent nature of bullion increase scrutiny. Xavion Capital mitigates this by preparing a meticulous file that clearly articulates your business model, showcases robust compliance, and provides full transparency on all transactions and counterparties.

We ensure your dealer registration and AML policies are clearly presented, alongside verifiable supplier and refinery contracts. By pre-emptively addressing potential concerns regarding UBO residency, sanctions exposure, and the lawful origin of metals, we significantly strengthen your application, reducing the likelihood of account termination for non-compliance.

Once your comprehensive file is prepared by Xavion Capital, the typical timeline for account issuance ranges from one to five weeks. Onboarding involves due diligence checks by the chosen provider, which we help facilitate and guide you through. Ensuring a smooth process requires prompt provision of all requested documentation and clear communication.

To keep your account live, ongoing adherence to AML policies and reporting requirements is paramount. Providers will continuously monitor transaction patterns, currency corridors, and counterparty risks. Maintaining strong internal controls and promptly updating your provider on any changes to your business profile or UBOs will ensure long-term account stability and continued access to essential multi-currency and FX services.