What to consider when buying gold on a vacation abroad

News Arnulf Hinkel, financial journalist – 30.07.2020

© PantherMedia /photoblueice (YAYMicro)

Whether it’s a souvenir or it seems like a great bargain – if you buy Gold coins, jewellery or bullions during your holiday, you should be wary of possible fakes, just as you should in your home country. Also, you need to consider whether the gold can be imported when returning to your home country, and if so, to what amount?

Vast differences between EU and non-EU at German customs 

When entering Germany or another EU member state, there is an EU-wide import tax exemption limit of €10,000 for gold, beyond which the precious metal must be declared. Also, so-called investment gold according to Section 25c UStG, such as gold bars, gold plates and gold coins that meet certain criteria, are generally VAT-exempt. However, many foreign currency gold coins are excluded from this rule. The situation is different  when returning to Germany from a non-EU country. Since gold from outside the EU is not classified by customs as merchandise and not as a form of cash, the exemption limit is much lower when entering Germany by plane or ship, at €300 and €430, respectively. Also, VAT exemption does not apply in this case. The same rules apply when leaving Germany.

Other countries, other customs regulations

Internationally, very different import regulations apply to gold. Even among EU member states, there are major differences with regard to imports from non-EU countries. In France, for example, gold must be declared from a quantity of 500 grams. In Italy, imports of gold alloys and gold plating in an unworked state or as semi-finished products are excluded from the generally unrestricted trade in goods – a rule which applies to all imports, even those from within the EU. For the UK, the exemption limit is generally £390, but significantly lower at £270 when entering the country on a private jet or boat. 

As a general rule and to avoid costly surprises, it is worth learning about the import regulations in your home country prior to making any gold purchases abroad.

Upcoming Events

© PantherMedia / Variant
Events

26.08.2020 - 26.08.2020 9. PLATOWFORUM Family Office - online

Events

29.08.2020 - 30.08.2020 “Börsentag online” Cologne 2020

The financial fair for private investors

Events

01.09.2020 - 01.09.2020 Finance Forum Liechtenstein

Youtube channel

Production of Umicore precious metal bars

Production of Umicore precious metal bars

Opening Bell Event zum 10-jährigen Bestehen von Xetra-Gold (German)

Opening Bell Event zum 10-jährigen Bestehen von Xetra-Gold (German)

Gold als eigene Anlageklasse: Interview mit Steffen Orben (German)

Gold als eigene Anlageklasse: Interview mit Steffen Orben (German)

Please select the optional cookies to activate Youtube.

Newsletter

Are you interested in receiving regular information on Xetra-Gold? Then subscribe to our monthly, free-of-charge newsletter to learn more about our gold holdings, upcoming events and to read our gold market outlook.

Required mandatory fields are marked with an asterisk (*).

Your data, collected for the purpose of sending the above information, will be processed in accordance with the DSGVO, i.e. they are used exclusively for the purposes mentioned above. The data will not be passed on to third parties. You can unsubscribe from our information services at any time using the unsubscribe function.

Further information is available in our complete data protection declaration.

Xetra-Gold Newsletter

We are sorry that you consider to unregister from our newsletter. Are you missing out information? If yes, we are pleased to receive your feedback. Of course, you can always re-register at any later point of time.

Required mandatory fields are marked with an asterisk (*).

Your data, collected for the purpose of sending the above information, will be processed in accordance with the DSGVO, i.e. they are used exclusively for the purposes mentioned above. The data will not be passed on to third parties. You can unsubscribe from our information services at any time using the unsubscribe function.

Further information is available in our complete data protection declaration.

Xetra-Gold Newsletter

Xetra-Gold Hotline

Xetra-Gold-Hotline

Do you have questions? We have the answers. Contact us here: 9 a.m.–6 p.m. CET

+49-(0) 69-2 11-1 16 70

xetra-gold@deutsche-boerse.com

For press inquiries:media-relations@deutsche-boerse.com

To contact form