Dealers in Precious Metals and Stones
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Dealers in Precious Metals and Stones

​As of 1st January 2021, a licence is required to carry out the business of a dealer in precious metals and stones. This in line with the provisions of L.N. 261 of 2020​ - Trading Licences (Amendment) Regulations, 2020. 

The operations of dealers in precious metals and stones are considered to include the:

    manufacture of jewellery and related articles where related articles covers:

     i. production of worked pearls;

     ii. production of precious and semi-precious stones in the worked state, including the working of industrial                 quality stones and synthetic or reconstructed precious or semiprecious stones;

     iii. working of diamonds;

     iv. manufacture of jewellery of precious metal or of base metals clad with precious metals, or precious or                    semi-  precious stones, or of combinations of precious metal and precious or semi-precious stones or of                other materials;

      v. manufacture of goldsmiths’ articles of precious metals or of base metals clad with precious metals                          including articles for religious use;

     vi. manufacture of technical or laboratory articles of precious metal (except instruments and parts thereof) :                crucibles, spatulas, electroplating anodes etc.

     vii. manufacture of precious metal watch bands, wristbands, watch straps and cigarette cases;

      production of precious metals;

    retail sale of watches and jewellery, precious stones and precious metals in specialised stores where the                 main line of activity is the selling of watches, jewellery, precious stones and/or precious metals or where the           main line of activity is not the selling of watches and jewellery;

      wholesale of: 

                             i. watches and jewellery;

                             ii. gold and other preciou​s metals; and 

                             iii. precious stones. 

Any person/entity who as of the 1st January 2021 was registered with the VAT department as performing any of the operations listed above shall be deemed to have been issued a licence, unless the Trade Licensing Unit has been informed that this is not the case. Specifically, operators which were registered with the VAT Department under the following type codes fall under this category:

24.41 Precious metals production

36.12 Manufacture of jewellery and related articles

46.48 Wholesale of watches and jewellery

46.72 Wholesale of gold and other precious metals

46.76 Wholesale of precious stones

47.19 Retail sale of watches, jewellery, precious stones and metals in non-specialised stores where the main line of activity is not the selling of watches and jewellery example departmental stores

47.77 Retail sale of watches, jewellery, precious stones and/or precious metals in specialised stores where the main line of activity is the selling of watches, jewellery, precious stones and/or precious metals

Operators thus classified, may continue to operate without the need to re-apply for a trading licence. They will be deemed to have given consent to be attributed a licence number with the name of the licence holder and the nature of the commercial activity published as per regulation 12. Moreover, such operations shall be bound by the conditions of the Trade Licences Regulations SL441.07 as from 1st January 2021. 


New operators 

Operators who did not fall in the categories listed above on 1st January 2021, or who would like to operate as dealers of precious metals and stones, need to obtain a licence, through an application made with the Trade Licensing Unit, within the Commerce Department. To be eligible for a licence, the applicant must be over 18 years of age and not have been convicted of any offence, as provided in the regulation. 

The applicable e-form​ has to be compiled and submitted online, and must be accompanied with the following documents:

 (a) a police certificate issued not more than one (1) month before the date of filing of the application. In the case of a company, this has to be provided for all the persons connected to the entity, specifically for those who effectively direct the business, the owner or owners of the business, all directors, partners, the company secretary and beneficial owners; 

(b) a document issued by the statutory auditors or audit firms responsible for carrying out the audit of the operation. 


The Trade Licensing Unit may request further documentation and information. Unless all the requested documentation is provided the application will not be processed further. 

Assessment of applications will evaluate the applicants’ repute, conduct and interest to the public. If considered to be fit and proper to carry on the business of a dealer in precious metals and stone, a licence will be granted. A licence will be valid for 3 years. A request for renewal will have to be submitted at least three months before the date before expiration. 

Applications and licences are free of charge.


Cessation of activity

Where a dealer in precious metals and stones decides to cease the commercial activity, he should immediately notify the Trade Licensing Unit on the appropriate form.

Enquiries can be directed to tradelicenceapplications@gov.mt or by telephone on 25690100 / 21226688.


Information related to Money Laundering, Terrorist Financing and EU and UN Sanctions

FIAU Implementing Procedures Part 1​

MFSA and FIAU Guidance ML and TF Business Risk Assessment​

FIAU Guidance Document The Funding on Terrorism​

FATF Guidance for Dealers in Precious Metal and Stones​

FATF TF through Trade in Diamonds

FATF Trade Based Money Laudering Trends and Developments​

FIAU Trade Based Money Laundering

FIAU Event FT webinar

FIAU FIAUS Supervisory Examiniations and Best Practices for DNFBPS​

SMB - Latest Updates in EU and UN Sanctions​


Application to operate as a dealer in precious metals and stones 

Frequently Asked Questions 

Last update: 13.04.21