Buy gold in UAE, India, or elsewhere in GCC? Prices, designs, VAT compared

Dubai: Gold shopping remains a favorite among UAE residents and expats, but where you buy can make a big difference.

From Dubai’s dazzling markets to India’s intricate craftsmanship and the GCC’s diverse offerings, each region has unique advantages — and costs. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.)

Here’s what you need to know before you invest in gold in 2025.

Dubai: Low-tax gold hub

The UAE applies a modest 5% VAT on gold, and Dubai stands out as a top destination for buyers due to its low taxes, competitive prices, and wide variety of stunning designs.

However, tourists can often claim refunds on exit, making purchases even more attractive. For investment-grade gold bars and coins (99% purity+), VAT can even be zero-rated in B2B transactions.

Buyers benefit from negotiable making charges, with many shops offering zero making charge promotions on select pieces. Also, the emorate's strict hallmarking ensures purity standards (typically 22K or 91.6%) are met, while the city’s melting pot of cultures offers everything from traditional Arabic and Indian styles to sleek European designs.

India: Rich in gold designs

India’s gold market is rich in tradition and craftsmanship, with ornate designs such as Kundan, Polki, and Meenakari highly prized. Gold holds immense cultural significance, especially for weddings and festivals, making it the world’s largest consumer.

However, higher taxes impact prices. A 3% GST on gold value, 5% GST on making charges, plus import duties, mean buyers pay a premium. Making charges tend to be less flexible, often calculated as a percentage of gold’s value. Price fluctuations linked to local demand and currency movements also add complexity.

Pricing elsewhere in GCC

The rest of the GCC offers competitive gold prices tied closely to international rates but with varying VAT and making charges:

• Saudi Arabia imposes a 15% VAT, making gold more expensive for buyers.

• Oman matches the UAE with a 5% VAT, offering competitive pricing.

• Bahrain raised VAT to 10% in 2022, increasing costs.

• Kuwait and Qatar currently have no VAT on gold, making them attractive spots for buyers, though VAT is expected to be introduced soon.

Purity standards are generally strong across the GCC, with hallmarking in place. The region favors traditional Arabic designs — often heavier and more ornate than the sleek Dubai styles.

What should UAE expats consider?

Dubai’s combination of low, refundable VAT, negotiable making charges, and vast design variety makes it the best overall value for gold buyers, especially expats looking to maximize their investment.

For those seeking unique, culturally rich designs, India remains unrivaled — but be prepared for higher costs.

In the wider GCC, Oman, Kuwait, and Qatar offer competitive VAT rates, while Saudi Arabia is the priciest option due to its 15% VAT.

Ultimately, your choice depends on priorities — whether it’s price, design, or customs regulations in your home country. Always factor in import duties and taxes when bringing gold home.