jasonaustralia123 Posted June 9, 2020 Share Posted June 9, 2020 How can Gold bullion be brought into Thailand. What are the laws, tax's, customs regulations ect. thanks Link to comment Share on other sites More sharing options...
Monomial Posted June 10, 2020 Share Posted June 10, 2020 You need an import license issued by the Ministry of Finance. No duties, but many hoops to jump through. Link to comment Share on other sites More sharing options...
johnnynmonic Posted June 11, 2020 Share Posted June 11, 2020 On 6/10/2020 at 8:19 AM, Monomial said: You need an import license issued by the Ministry of Finance. No duties, but many hoops to jump through. What about bringing it out of Thailand? 1 Link to comment Share on other sites More sharing options...
KKr Posted June 11, 2020 Share Posted June 11, 2020 do you mean gold bars, or for industrial purposes? Last I checked it was USD 20.000 market value for currency, i.e. coins valid as legal tender, in hand luggage no duties. Link to comment Share on other sites More sharing options...
johnnynmonic Posted June 11, 2020 Share Posted June 11, 2020 9 minutes ago, KKr said: do you mean gold bars, or for industrial purposes? Last I checked it was USD 20.000 market value for currency, i.e. coins valid as legal tender, in hand luggage no duties. Thanks. I have a few of those Thai gold bars (thong theang), certainly less than 20k USD in value. Link to comment Share on other sites More sharing options...
natway09 Posted June 11, 2020 Share Posted June 11, 2020 Just bring it with you if less than 20 K US 1 Link to comment Share on other sites More sharing options...
KKr Posted June 11, 2020 Share Posted June 11, 2020 1 hour ago, johnnynmonic said: Thanks. I have a few of those Thai gold bars (thong theang), certainly less than 20k USD in value. you can look up import/export tariffs here:http://itd.customs.go.th/igtf/en/main_frame.jsp 7118.90.10 - - Gold coin, whether or not legal tender however Gold Bars are tariff number 7108.121000. also exempted to most, but not all countries as far as I have seen Link to comment Share on other sites More sharing options...
RocketDog Posted June 11, 2020 Share Posted June 11, 2020 33 minutes ago, KKr said: you can look up import/export tariffs here:http://itd.customs.go.th/igtf/en/main_frame.jsp 7118.90.10 - - Gold coin, whether or not legal tender however Gold Bars are tariff number 7108.121000. also exempted to most, but not all countries as far as I have seen thanks Wow. 7108.12.10 seems to state a 35% ad valorem rate. Does that means there is a 35% duty on bringing bars/ingots into the kingdom? Link to comment Share on other sites More sharing options...
Lacessit Posted June 11, 2020 Share Posted June 11, 2020 Thai gold is about 96.5% pure. Gold bullion is usually 99.99%. Bringing bullion into Thailand, or taking Thai gold out of Thailand, makes no sense either way. Anyone doing that will take a beating financially when they try to sell it. Link to comment Share on other sites More sharing options...
KKr Posted June 11, 2020 Share Posted June 11, 2020 1 minute ago, Lacessit said: Thai gold is about 96.5% pure. Gold bullion is usually 99.99%. Bringing bullion into Thailand, or taking Thai gold out of Thailand, makes no sense either way. Anyone doing that will take a beating financially when they try to sell it. I beg to disagree. if selling say Krugers in a local shop they will need a margin to cover their cost of shipping it to Bangkok. but the margin is of the international gold price as per Kitco, or any other bullion trader. If you sell 99.9999 and get offered the price as quoted in Thai Baht, you get ripped off twice. 1) purity not taken into account 2) 2 baht weight is less than one Troy ounce. however, the bid/sell spread is lower. Link to comment Share on other sites More sharing options...
AsiaCheese Posted June 11, 2020 Share Posted June 11, 2020 (edited) On 6/10/2020 at 8:19 AM, Monomial said: You need an import license issued by the Ministry of Finance. No duties, but many hoops to jump through. I could be wrong, but I think I read that only businesses (i.e. traders, financial institutions etc.) can apply for an import license, not Mr. and Ms. Smith. You can buy gold bullions (even the 99.9% grade ones) at licensed Thai traders, but not import them. BTW, that has nothing to do with the US$ 20,000 cash (equivalent) that can be brought to Thailand (more when registering with customs at the airport). Gold bullions aren't considered a currency/means of payment. Edited June 11, 2020 by AsiaCheese 1 1 Link to comment Share on other sites More sharing options...
KKr Posted June 11, 2020 Share Posted June 11, 2020 1 hour ago, RocketDog said: thanks Wow. 7108.12.10 seems to state a 35% ad valorem rate. Does that means there is a 35% duty on bringing bars/ingots into the kingdom? you'd have to look into details. "select preferences" shows the various trade agreements. trade agreements, I believe, all exempted, others if WTO, 1 %. and the rest of the world would be 35 % then. Link to comment Share on other sites More sharing options...
KKr Posted June 11, 2020 Share Posted June 11, 2020 6 minutes ago, AsiaCheese said: Gold bullions aren't considered a currency/means of payment. unless they are legal tender in the country of issue. But you are right, gold bars, fancy medals, commemoratives etc, are not a means of payment. Hence, in theory, the customs treatment could be different. Canadian Maple Leafs, American Golden Eagles, 1 Oz. are legally good for 50$ in the shop. However, customs will count market value. Other coins, where one might be looking at a higher bid/offer spread, may be premium priced for perceived rarity. p.e. Order of Malta 10000 Liras Gold PF 2005 Pope John Paul II is offered at just over 2.050 USD on the internet. Selling that to a mom and pop store in a provincial town will get the same as a kruger or golden eagle that currently cost some 1770, and are usually easier to identify. I'd not invest in uncirculated coins that are usually a bit more expensive than proof. Reason being that only very specialised dealers have the equipment to test purity and read laser engraved hallmarks. mom and pop take a coin out of the wrapping and put it under a bunsen burner, gone is the unc. premium. Link to comment Share on other sites More sharing options...
Lacessit Posted June 12, 2020 Share Posted June 12, 2020 14 hours ago, KKr said: I beg to disagree. if selling say Krugers in a local shop they will need a margin to cover their cost of shipping it to Bangkok. but the margin is of the international gold price as per Kitco, or any other bullion trader. If you sell 99.9999 and get offered the price as quoted in Thai Baht, you get ripped off twice. 1) purity not taken into account 2) 2 baht weight is less than one Troy ounce. however, the bid/sell spread is lower. I don't understand what you are claiming in your post. Unless the gold price increases while the buyer is holding it, said buyer will always make a loss due to the buy/sell spread. The only way to make a profit is when the increase is greater than the spread. Link to comment Share on other sites More sharing options...
RocketDog Posted June 12, 2020 Share Posted June 12, 2020 19 hours ago, KKr said: you'd have to look into details. "select preferences" shows the various trade agreements. trade agreements, I believe, all exempted, others if WTO, 1 %. and the rest of the world would be 35 % then. Thanks for the info. Link to comment Share on other sites More sharing options...
AsiaCheese Posted June 12, 2020 Share Posted June 12, 2020 10 hours ago, Lacessit said: I don't understand what you are claiming in your post. Unless the gold price increases while the buyer is holding it, said buyer will always make a loss due to the buy/sell spread. The only way to make a profit is when the increase is greater than the spread. Of course you need to hold it; same as with any speculative "thing", and all have buy/sell spreads. I bought the odd 99.999% bullion (not in Thailand) for around US$1,400 (oz.) and it's now roughly at US$1,750. I call that a nice little gain, and there's not much of a buy/sell spread either. Link to comment Share on other sites More sharing options...
Daniil85 Posted October 13, 2023 Share Posted October 13, 2023 Hello everyone. What's known about importing gold bars into Thai nowadays? For example, I save personal funds in a gold bars. It's less than 10000$, so it's allowed to transport via airplane in personal luggage. But can I bring it with me to Thailand? On webpage of Thai customs there is no straight mentions about this. I found an article at Wikipedia about this, where they said that importing gold bars require license (i.e., for personal needs it's equal prohibited). But that's an article on a Wiki, which can't be treated as official information. Where can I find any official info about this? Link to comment Share on other sites More sharing options...
Bill97 Posted October 13, 2023 Share Posted October 13, 2023 5 minutes ago, Daniil85 said: Hello everyone. What's known about importing gold bars into Thai nowadays? For example, I save personal funds in a gold bars. It's less than 10000$, so it's allowed to transport via airplane in personal luggage. But can I bring it with me to Thailand? On webpage of Thai customs there is no straight mentions about this. I found an article at Wikipedia about this, where they said that importing gold bars require license (i.e., for personal needs it's equal prohibited). But that's an article on a Wiki, which can't be treated as official information. Where can I find any official info about this? $10,000 is about 5 ounces, put it in your pocket and go anywhere. Link to comment Share on other sites More sharing options...
Daniil85 Posted October 13, 2023 Share Posted October 13, 2023 8 minutes ago, Bill97 said: $10,000 is about 5 ounces, put it in your pocket and go anywhere. With all respects, but on what experience you founded your opinion? Well, at the airport they at least will ask you to put everything from your pockets, and after this questions will be raised. Link to comment Share on other sites More sharing options...
Bill97 Posted October 13, 2023 Share Posted October 13, 2023 26 minutes ago, Daniil85 said: Well, at the airport they at least will ask you to put everything from your pockets That happens to you? Link to comment Share on other sites More sharing options...
Daniil85 Posted October 13, 2023 Share Posted October 13, 2023 35 minutes ago, Bill97 said: That happens to you? Not with me, but with my friend in Japan. They just asked her to show her luggage. Just without reasons. Link to comment Share on other sites More sharing options...
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