People all over the world especially Women wants to invest in gold, as it’s always been a precious metal. Whenever we think about buying gold, the very first thing which comes to our mind is “Dubai” which is also known as the Gold City.  Buying gold from UAE is always a wise decision as it’s tax-free. Most tourists also prefer to buy gold from Dubai because of this reason. 

As per the South Asian country’s customs laws, a Non-residents Indian (NRI) can carry gold of 2472 UAE Dirham (50,000 INR), whereas a female passenger can carry gold worth 4945 UAE Dirham (1,00,000 INR). The passenger has to reside in UAE for a period of more than a year. Gold jewellery carried over this limit is subject to customs duty. 

Most of the Indian nationals living in the UAE prefer to buy gold jewellery from there because it is tax-free. A large number of tourists from India also buy gold jewellery from there during their visits to Dubai.

Last week, India, one of the world’s largest markets for gold, announced mandatory hallmarking on precious metal’s jewellery and related items to make India a leading global gold centre.

 Ahammed, Chairman of Malabar Group said this decision by New Delhi to hallmark gold jewellery is aimed at protecting the public against adulteration. It will also obligate manufacturers and retailers to maintain a legal standard of fineness and purity.

“However, this rule will not have any effect on customers’ gold purchases outside India, as the Bureau of Indian Standards (BIS) is the national standards organisation of India. They will get value for the gold depending on the gold karat age (18K, 21K and 22K)."

"Most of the jewellers have karat analysers and customers can check the purity of their gold, thus ensuring full value while selling or exchanging them,” he added.