Unrefined gold in.Fine metal accounted for.
Velcura Gold Trading L.L.C is a precious metals trading company in Dubai. It takes in unrefined gold and presents it to a refinery here, and it buys and sells bullion on its own account. Commercial counterparties only.
Two business lines, one licence
Doré intake
Intake of unrefined gold, import into Dubai, presentation to a refinery, settlement against the assay.
Bullion trading
Purchase and sale of bullion at 995 and finer on Velcura’s own account, between commercial counterparties.
How a position runs
Every position follows the same sequence. The steps do not move, and none of them is skipped because a counterparty is in a hurry.
- 01Counterparty reviewWho the counterparty is, who owns it, and whether it may sell what it is offering.
- 02AgreementTerms in writing before anything is packed.
- 03Export documentationThe material leaves its country of departure lawfully and on paper.
- 04TransportInsured, tracked, and handed over against signature at every point.
- 05 TImport into DubaiCustoms entry in Velcura’s own name.
Documentation is the starting point
Most trading houses treat documentation as something produced afterwards, when a bank or an auditor asks. Velcura treats it as the condition for starting. A position opens once the counterparty file is complete, and it closes with a chain that runs without a gap from the origin record to the customs entry.
That chain is what a compliance officer reviews during onboarding, and what a periodic review comes back to. It is built to be read by someone who was not there.
Unrefined materialFine metal
The framework Velcura works in
A precious metals trader in the United Arab Emirates is a Designated Non-Financial Business or Profession. That brings obligations on counterparty identification, beneficial ownership, sanctions and PEP screening, record keeping and the reporting of suspicious transactions.
Velcura describes the framework it works in and the checks it carries out. It does not claim a certification it does not hold, and it does not guarantee an outcome that depends on a counterparty telling the truth.
Before the first position
Write with the position you have in mind. The reply sets out what a first review requires and what documents it needs. Enquiries from private individuals are not accepted.