Gold Buying License: To buy and sell gold in Zimbabwe, individuals or companies need to obtain a gold buying license from the Ministry of Mines and Mining Development. The license is typically issued for a specific location and is subject to renewal.

Application Process: Applicants for a gold buying license are required to submit an application to the Ministry of Mines and Mining Development. The application usually includes relevant personal or company information, proof of financial capability, and any other documentation required by the ministry.

Compliance with Legal Framework: Gold buyers must adhere to the legal framework governing gold mining and trading activities in Zimbabwe. This includes compliance with the Mines and Minerals Act, Gold Trade Act, and any other relevant legislation or regulations.

Compliance with Export and Customs Requirements: For gold sellers who intend to export the gold out of Zimbabwe, compliance with export and customs requirements is necessary. This may include obtaining export permits, fulfilling documentation requirements, and complying with any applicable export duties or taxes.

Payment and Pricing Regulations: There may be regulations or guidelines regarding payment methods and pricing of gold in Zimbabwe. It’s important to comply with any regulations related to pricing transparency, accurate weighing and assaying of gold, and fair payment practices.

Record Keeping and Reporting: Gold buyers are typically required to maintain detailed records of their gold purchases and sales, including information such as the weight, purity, and source of the gold. Reporting obligations may exist to regulatory authorities, such as the Minerals Marketing Corporation of Zimbabwe (MMCZ).

Compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) Requirements: Gold buyers may be subject to AML and KYC requirements to prevent money laundering, terrorist financing, and other illicit activities. This may involve verifying the identity of sellers, conducting due diligence, and reporting suspicious transactions.