How To Sell Gold In Qatar?

How To Sell Gold In Qatar

Qatar is known for its shops lavished with a variety of gold. It is an active hub for gold sellers and buyers. Amid its popularity and high gold sales the Ministry of Interior, Qatar has made some requirements mandatory in order to sell gold for safe gold shopping. In this article, these requirements and procedures are discussed in detail.

Requirements To Sell Gold In Qatar

No Objection Card

People who are urged to sell gold in Qatar must obtain a “no objection card” from the police or the Capital Security Section Office located near Al Najada Hotel and Council Parliament on Ali bin Abdullah Street. A fee of QAR 10 (Qatari Riyal) is charged on it which is paid from the bank card.

The requirements for selling gold for both men and women are discussed below:

Requirements for Women

  • It is vital for the gold seller to submit gold receipts.
  • The gold should also be presented for further examination.
  • Similarly, it’s mandatory to show an ID or QID card for residents or citizens and a passport for foreign visitors.

Requirements for Men

  • For men, submission of gold receipts, presenting gold for inspection, and submitting ID cards for residents or citizens and passports for visitors is compulsory as well.
  • Men’s watches and gold bullion should be presented along with their purchase invoices.
  • If there is a representative of the owner he should submit the QID of the owner along with the purchase invoice.
  • Gold should belong to first and second-degree relatives.

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Steps To Follow For Selling Gold

The Ministry of Interior (Qatar) has devised a few requirements and a prominent method to ensure the eligibility of a person selling gold for public safety which are described in detail below:

  • Firstly approach the public security department at the Ministry of Interior office or Gold sales office situated in Souq Waqif (10 minutes drive from Gold Souq Doha, Qatar) which would grant NOC (Non Objection Card / Certificate).
  • Then the applicant can get the application from the representative officer there. 
  • It is important to keep in mind the requirements of both men and women discussed above. 
  • Once you have filled it with the necessary information, attach the required documents (passports for visitors, ID or QID cards for citizens or residents, gold receipts, and purchase invoices specifically for men’s watches and gold bullion). 
  • As a safety measure keep a copy of the submitted document with yourself as a record and future reference. 
  • After that, QAR 10 (Qatari Riyal) is to be paid for the NOC through a debit/bank card. 
  • At the counter, they will go through the application and submit it to the representative officer in the public security department.
  • Next, the authorities would verify the application along with the attached documents. Gold will also be inspected i.e. it is real or not and its quality as well.
  • After the authorities have verified it they would notify the applicant to collect the NOC or the reformulation of jewelry on notified date.
  • After getting possession of NOC, now, you can now sell gold at any marketplace in Qatar. Just a pro tip, Before visiting the market and entering into a gold business transaction always remain updated with the latest gold rates of the day in Qatar.

Eligibility

Any person is eligible to apply for NOC if he is 18+ of age. This is the minimum age requirement laid down by the Ministry of Interior, Qatar.

Conclusion

It is hoped that this article has provided you with all the necessary steps and guidelines including all the requirements and procedures which are to be mandatory fulfilled in order to sell gold in Qatar. So make sure to keep all these details in your mind when urging to sell gold in Qatar.