As more institutions hold physical gold, compliance becomes more than a formality — it's a core part of institutional credibility and operational security.
AML and KYC Obligations
Regulators require businesses dealing in precious metals to apply Anti-Money Laundering (AML) and Know Your Customer (KYC) checks. Institutions buying physical gold should expect their dealer to verify their identity, ownership structure and source of funds.
EONA (Bullion Link Trading FZCO) is registered as a Dealer in Precious Metals and Stones with the UAE Ministry of Economy and Tourism for AML purposes. Our onboarding includes identity checks and source-of-funds and source-of-wealth documentation. EONA is not licensed by the Capital Market Authority or the Central Bank.
Source Traceability and Ethical Standards
Gold’s origin is under scrutiny from both regulators and buyers. Institutions are expected to source from conflict-free, responsibly produced and traceable supply chains. Frameworks like the OECD Due Diligence Guidance define industry good practice.
At EONA, bars are investment-grade (minimum 999.9 fineness for gold, 999 for silver) from Emirates Minting Factory, an RJC-certified UAE refinery, approved under EONA’s supply-chain due diligence policy.
Audit Trails and Custodial Verification
Institutions must demonstrate asset integrity not only to regulators but also to internal auditors, boards and shareholders. That requires clear records of ownership, independent verification and reliable reporting.
At EONA, holdings are recorded against specific bars with serial numbers, and vault stock held with Loomis is subject to independent checks. Institutional clients receive records of holdings and transactions to support their auditors.
Tax Reporting and Jurisdictional Compliance
Gold holdings can raise tax questions, including VAT, customs treatment and capital gains. Institutions should also consider reporting obligations such as the Common Reporting Standard (CRS) or FATCA where applicable.
All metal bought through EONA is stored with Loomis in Dubai, and EONA provides documentation for purchases, storage and sales. EONA does not give tax advice; institutions should take their own professional advice.
Cybersecurity and Data Protection
Institutions expect their providers to protect personal and business data. In the UAE, the federal Personal Data Protection Law (PDPL) sets the rules for how personal data is handled.
EONA uses encrypted connections and access controls to protect client data, and handles personal data in line with its Privacy Policy.