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flying with gold bars out of the country

Lobin
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Lobin Advanced Member

Lobin

Posted
Posted

i know that there is a limit to the amount of currency that you can take out the country without "notifying" customs on your way out.

just wondering if anyone has had any experience with taking gold bars out of the country via the airport?

any problem with it in the hand luggage, scanner machines?

do customs treat gold bars like a currency even though it is a commodity and have to notify them?

any limit to the amount you can take out without them trying to get some tax out of you, even though gold isnt a VATable item?

DiamondKing Gold Member

DiamondKing

Posted
Posted

If you are heading to the US or UK you need to declare ANYthing over $10,000 US Dollars else face confiscation if caught,

So you would need to calculate the current value of the ingots at the current market rate and declare it upon entry not sure about exciting

  • Like 1
Suradit69 Diamond Member

Suradit69

Posted
Posted

It is illegal to export gold. This includes 23k gold jewelry, but not 18k gold.

http://gold.yabz.com/where_to_buy_gold.htm

Importing gold bullion without a permit is illegal and customs can seize it or, if declared, require you to leave it with Customs until you depart. That seems to be fairly certain.

Current rules regarding exporting seem less certain, although it seems likely that you'd need an export permit. Best to check with one of the clearing agencies that work out of the airport freight section.

There was recently an issue concerning gold passing through Thailand en route to India.

NEW DELHI: Thailand has agreed to retrospectively re-examine rules of origin certificates issued to Indian gold importers after New Delhi said third-country gold was routed through Thailand to take advantage of concessional duty available under India-Thailand free trade agreement. If any certificate is found lacking, importer will have to cough up additional duties, spelling more miseries for the sector that has been on the policy radar for worsening India's current account deficit. In the worst case scenario, the imported gold can also be confiscated if malafide intent to evade taxes is established. "Thai authorities have agreed to relook at the rules of origin certificates issued in over more than a year," a finance ministry official told ET.

Suradit69 Diamond Member

Suradit69

Posted
Posted

Gold bars will be considered cash.

it certainly isn't considered cash when imported.

Import regulations::

Free import by each passenger holding a passport of his own, irrespective of age:

1. 200 cigarettes or 250 grammes of tobacco or equal weight of cigars;

2. 1 litre of alcoholic liquor;

3. One still camera with 5 rolls of film or one movie camera with 3 rolls of 8 or 16 mm. film.

Free import for non-residents:

- for holders of transit visas or who can obtain a visa on arrival: up to THB 10,000 per person or THB 20,000 per family.

- for holders of tourist visas: up to THB 20,000 per person or THB 40,000 per family.

Prohibited (without licence):

1. Firearms and ammunition incl. explosive articles and fireworks, drugs of narcotic nature, e.g. heroin.

2. Gold bullion. Moreover it must be declared on arrival and can, if no import licence is available, be left in Customs bond at the airport of entry to be retrieved on departure.

3. Meat from any country affected by Bovine Spongiform Encephalopathy (BSE) or mad cow and foot-and-mouth diseases. The measure covers meat from all EU Member States and any other infected country. Those carrying such diseased meat will be fined THB 40,000 and/or imprisoned for up to two years.

Gsxrnz Platinum Member

Gsxrnz

Posted
Posted

Here's the actual legislation. http://www.customs.go.th/wps/wcm/connect/14026c8a-44db-49a9-9095-7d8eedfd5d13/Customs_Act_2469.pdf?MOD=AJPERES

"Value" has a specific definition under the act and is the same as cash. If you front up to customs and don't make a declaration but get caught on the x-ray, you will lose the gold and be speaking to the BIB. Even if you make a declaration, you'll probably end up in strife anyway.

Do you really think that individuals can travel the globe with a case load of gold or precious metals?

  • Like 1
TradeMark Explorer Member

TradeMark

Posted
Posted

Depends on the volume you traveling with... Had no issue with a kilobar recently Thailand - Hong Kong. Also done kilobar runs every time I head to Singapore. Just pretended it isn't there and smooth sailing but maybe not best practice.

Generally carry about 100g with me negligent whilst traveling. In my wallet. So never any suspicion from that and its become a lot easier to carry wallet style since the combibar came out. Haven't had an issue throughout SEA in the last 3 years and easily 50+ border crossings later.

If you really worried or its a more substantial load then I suggest contacting Rhenus Logistics. Have only used their Singapore and Swiss service but they have representatives in Thailand and specialize in precious metals and valuable shipments.

Monkeyrobot Silver Member

Monkeyrobot

Posted
Posted

I presume they are 10 baht or less , just leave them in your pocket , the metal detectors don't pick them up, I also leave them in my carry on & never been picked up here or abroard going through customs. How much are you carrying???

Card Gold Member

Card

Posted
Posted (edited)

cheers but it doesnt cover gold, am not talking jewelry gold but ingots.

I expect they will treat it as 'precious metals' or 'precious commodity' which would bring it in line with jewelry. I think you would be a bit daft trying to get that through customs - it would show up as a big block of blackness in the x-ray - bound to cause a panic and it could then be confiscated or at least held until further investigation. I wouldn't risk it. You would need at least documents to prove ownership/purchase. It might even be treated as money laundering.

Edited by Card
Cuban Platinum Member

Cuban

Posted
Posted

BTW Gold shows up clearly as bright blue in modern x-ray luggage scanners and is likely to be questioned if the staff operating the machine have their wits about them.

Eesat Silver Member

Eesat

Posted
Posted (edited)

Depends on the volume you traveling with... Had no issue with a kilobar recently Thailand - Hong Kong. Also done kilobar runs every time I head to Singapore. Just pretended it isn't there and smooth sailing but maybe not best practice.

Generally carry about 100g with me negligent whilst traveling. In my wallet. So never any suspicion from that and its become a lot easier to carry wallet style since the combibar came out. Haven't had an issue throughout SEA in the last 3 years and easily 50+ border crossings later.

If you really worried or its a more substantial load then I suggest contacting Rhenus Logistics. Have only used their Singapore and Swiss service but they have representatives in Thailand and specialize in precious metals and valuable shipments.

Do you honestly believe that what you're doing is legal?w00t.gif

Edited by metisdead
30) Do not modify someone else's post in your quoted reply, either with font or color changes, added emoticons, or altered wording.
Eesat Silver Member

Eesat

Posted
Posted

To the OP,why don't you go to the customs office at the airport just to clarify EXACTLY what the situation is regarding the import/export of gold bullion?Unless you are planning to do this illegally,as you will be opening yourself up to all sorts of problems,possibly a large fine and jail time?

farmer floyd Apprentice Member

farmer floyd

Posted
Posted

If you are coming to the west then how are you going to get it in that country with out declaring it?

That is the big question. THAT is the country that will take it if not declared. You should just leave it

where you bought it and when things get bad in west(not to long to wait) then you have a place to settle in . I wish I had done that cause now you left a trail back to where ever and they will take in the end. First your 401k, and ira they will take just like argentia did 2 years ago. give them worthless bonds. Get the drift. Good luck

Tagaa Senior Member

Tagaa

Posted
Posted

Farmer Floyd speaks wise words.

I got ALL of my money out of my home country & moved it here years ago. Now, 68% of my savings is in gold. I'm still buying, by the way. I have no, absolutely no thoughts, of ever taking it out of LOS. Why would I?

When the Western economies collapse (and its a matter of when, not if) I will be fine...actually more than fine. There will be runaway inflation in the West and some inflation here. As long as Thailand pegs it's gold price to the US dollar, or maybe the Euro, after the dollar collapses, or even the Yuan, my purchasing power will have been preserved.

My recomendation...leave it here, in a safe place.

By the way, a bank, even here, or should I say especially here, is not a safe place. You have to get out of the system. Crossing international borders & declaring your PM's puts you in the system.

Leave it here & the Western country from whence you came will never know about it. That's out of the system (as long as it's not in a bank).

  • Like 1
Rimbuman Advanced Member

Rimbuman

Posted
Posted

Bars have to be calculated in value to the weight of gold. Coins with a face value like American eagle or Maple Leave (50 Can $ per troy ounce) are legal tender (money) and can be calculated by value thats minted in the coin itself.

I've done it, had to open my hand luggage and show what these black spots were about on their scan machine screen and they had to let me go because it was only 2000 Can $ in coins.

  • Like 2
Card Gold Member

Card

Posted
Posted

Wrap it in aluminiumfoil and the goldbars will be invisible for scanners.

????????????// so what about guns and bombs then?

hellodolly Star Member

hellodolly

Posted
Posted

It is illegal to export gold. This includes 23k gold jewelry, but not 18k gold.

http://gold.yabz.com/where_to_buy_gold.htm

Importing gold bullion without a permit is illegal and customs can seize it or, if declared, require you to leave it with Customs until you depart. That seems to be fairly certain.

Current rules regarding exporting seem less certain, although it seems likely that you'd need an export permit. Best to check with one of the clearing agencies that work out of the airport freight section.

There was recently an issue concerning gold passing through Thailand en route to India.

NEW DELHI: Thailand has agreed to retrospectively re-examine rules of origin certificates issued to Indian gold importers after New Delhi said third-country gold was routed through Thailand to take advantage of concessional duty available under India-Thailand free trade agreement. If any certificate is found lacking, importer will have to cough up additional duties, spelling more miseries for the sector that has been on the policy radar for worsening India's current account deficit. In the worst case scenario, the imported gold can also be confiscated if malafide intent to evade taxes is established. "Thai authorities have agreed to relook at the rules of origin certificates issued in over more than a year," a finance ministry official told ET.

I think there is a lot of conjecture here we don't know if it is his personal property or for exporting where ever he goes.

What that country allows is not part of the equation we have been given

hellodolly Star Member

hellodolly

Posted
Posted

To the OP,why don't you go to the customs office at the airport just to clarify EXACTLY what the situation is regarding the import/export of gold bullion?Unless you are planning to do this illegally,as you will be opening yourself up to all sorts of problems,possibly a large fine and jail time?

Sounds like a good plan to me. At the price of gold today 4 ounces would be over the 50,000 baht limit for personal use.To be honest I think there are a lot of people who own gold bars just in case the baht or what ever their currency is crashes.

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