Gold shops operating trade online must apply for an online gold trading license from the Department of Trade in addition to their mineral (gold) trading service license, U Myo Myint, chairman of the Yangon Region Gold Entrepreneurs Association, said.
The Ministry of Commerce has allowed online gold trading businesses to register starting October 2, 2024. If online sales is operated without a registration certificate, it will be subject to action under Section 5 of the Essential Supplies and Services Law, according to the Ministry of Commerce.
As the current local gold market is at a high price, there is more selling than buying. Shops that operate in the mineral (gold) trading service must also apply for a license. It is reported that there were a total of 4,758 applications for mineral (gold) trading service licenses in the three months from November 18, 2024 to February 17, 2025.
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