Bringing Gold From Thailand To Europe

[2ge]

Hi,

is there some exports/imports limits for gold? Friend bought some gold here in Thailand (5 Baht) and want take it with himself on airport and traveling to Europe Union (Germany). What are the rules ?

Thanks

[mahtin]

I think TG has a 30kg limit.

[sirchai]

I think TG has a 30kg limit.

[/quote

[lazygourmet]

Just wear it!

5 baht gold is a mere 2000 euros... and impossible to sale in Europe.

The only problem that your friend could encounter, is the custom officers laughing out of him!

[JimsKnight]

Just wear it!

5 baht gold is a mere 2000 euros... and impossible to sale in Europe.

The only problem that your friend could encounter, is the custom officers laughing out of him!

You can sell Thai gold in Euroland you just need to find a gold-dealer in a capital city.

[2ge]

thanks for reply guys. I don't know anything from your posts. One say 30 kg of gold, thats really funny.

I didnt ask, if this gold is possible to sell in europe. Of course it is possible to sell it, when he bought 99.9% gold, but thats not question at all.

Don't you have any link for regulations about this? I mean, I remember when I cross the border, there is some declaration about currency, checks and so on, but I am not sure about gold. Is here anybody, who knows?

thanks.

[andyphuket]

I don't think people ever export gold from Thailand, so there is no need for rules and regulations..

Normally they give it to a very special woman, and go home without it..

[mmushr00m]

Its only 5baht of gold and as the above posters says Euro2000.

Lots of ppl walk through the airports with more then E2000.

The declaration of currency is usually 10k and above in cash.

Go through the Green "Nothing to declare" lane.

[2ge]

thanks a lot for answers.

[Naam]

Its only 5baht of gold and as the above posters says Euro2000.

Lots of ppl walk through the airports with more then E2000.

The declaration of currency is usually 10k and above in cash.

Go through the Green "Nothing to declare" lane.

€ 10k is correct but it does not apply only to cash. e.g. French, Italian and German customs consider gold bars as "monetary items" which have to be declared if the value is € 10k or above. don't know how U.K. handles the matter.

[philliphn]

Gold Finger he's the one.

The one with the golden touch, he loves soo much.

You should be Ok. As long as you don't drive solid gold Rolls Royces across the borders.

[mahtin]

And don't cover any ladies' bodies in gold paint.

In 1964 a special effects designer used an Aston Martin DB4 as a practice prop for the real DB4 used in the movie Goldfinger. In 1974 he put it in a garage, where it sat until recently. Now it's being put up for sale at Aston Martin's annual factory auction, held at Newport Pagnell and run by Bonhams.

The pre-sale estimate for the red coupe is £50,000 ($74,640 U.S.).

[asiancup2007]

He can take Thai gold out of the country with no issues, but he might be charged duty on it in the country he is entering. This is why I only invest in Canadian Maple Leaf bullion coins, that have a "face value", are legal tender and not subject to any duty.

Good advice. I suggest you fly to Mexico.

EconomicPolicyJournal.com: American Arrested in Mexico for Carrying 150 Gold Coins; Coins Seized

[ALFREDO]

If you can carry the Gold on your body without looking as a Christmas tree, the Custom will except it. That is not a law, but common sence.

So 5 Baht Goldchain or like it. is sure no problem, normaly!

I wear on frequent travelling around Europe and Asia, 9 Thai-Baht Gold on me, never somebody asked a question.

If you have to much on you or in your luggage and you do not declare it at customs, it can become a problem.

What is to much, what is ok?

I think, 10 Baht on your neck (only one or two necklace!), 5-10 Baht on your arm (One necklace!) and 1 Baht Goldring, is still acceptable-so I think.

21 baht Gold=nearly 400.000.- B.=10.000.- Euro

More looks sure suspicious.

[Naam]

He can take Thai gold out of the country with no issues, but he might be charged duty on it in the country he is entering. This is why I only invest in Canadian Maple Leaf bullion coins, that have a "face value", are legal tender and not subject to any duty.

but you have to declare the value which varies depending on the country.

[Arkady]

Technically Thai gold is liable to VAT on import to the EU. EU law allows an exemption for investment gold but Thai gold doesn't fit the definition which is as follows:

"For the purposes of this Directive, and without prejudice to other Community provisions: "investment gold" shall mean:

(i) gold, in the form of a bar or a wafer of weights accepted by the bullion markets, of a purity equal to or greater than 995 thousandths, whether or not represented by securities. Member States may exclude from the scheme small bars or wafers of a weight of 1 g or less;

(ii) gold coins which:

- are of a purity equal to or greater than 900 thousandths,

- are minted after 1800,

- are or have been legal tender in the country of origin, and

- are normally sold at a price which does not exceed the open market value of the gold contained in the coins by more than 80 %.

Such coins are not, for the purpose of this Directive, considered to be sold for numismatic interest."

As you see, jewellery is not considered investment gold and even Thai ingots are not for two reasons: they are not sold in the weights normally traded in the bullion markets (outside Thailand); and their purity is only .965. However, some Thai gold dealers sell international gold bullion coins that qualify, although there is not much demand for them amongst parochial Thais who flock to be ripped off by the government sponsored gold price fixing scam.

The quantity your friend wants to import to Europe is not much and he should get away with it as personal jewellery, although technically he may be over the limit for that. Any one thinking of importing larger quantities of Thai gold jewellery or ingots to the EU should be prepared to shell out the stiff European rates of VAT.