Customs and Import of Precious Metal
Also: Precious metal import, Gold import, Customs liability precious metal
When transporting precious metals across borders, declaration duties apply within the EU from €10,000, together with import VAT and customs rules on entry from third countries.
Anyone transporting gold, silver, platinum or palladium across national borders moves within a tightly woven framework of customs, tax and anti-money laundering law. The key rules at a glance - no substitute for individual legal or tax advice.
Within the EU: declaration duty from €10,000
Within the EU single market, no import duties arise. Nevertheless, the EU Cash Controls Regulation (Regulation (EU) 2018/1672) applies: cash and equivalent stores of value - which include bullion coins and bars - to the value of €10,000 or more must be declared when crossing the border (including within the Schengen area where corresponding controls are carried out). If the declaration is omitted, the precious metal may be provisionally detained and a penalty imposed.
Import from third countries
On entry from a non-EU country (e.g. Switzerland, the USA, the United Kingdom), two additional levels come into play:
| Level | What applies? |
|---|---|
| Customs duty | Gold bars and coins of recognised fineness: customs rate 0% (tariff heading 7108). Silver, platinum, palladium: likewise usually 0%, check individual cases. |
| Import VAT | Corresponds to the standard VAT rate (Malta: 18%). Investment gold is exempt under the EU VAT Directive (2006/112/EC) - so no import VAT on gold bars >= 995/1000 and on bullion coins on the EU list. Silver, platinum, palladium are subject to import VAT (18%). |
| Declaration duty | From €10,000 market value, mandatory declaration to customs. |
You can determine the current market value of your precious metals in euros at any time via the melt value calculator or the live pages for gold price and silver price.
Investment gold - the special case
Investment gold (bars with a fineness >= 995/1000 and certain coins with >= 900/1000) is exempt from VAT throughout the EU under the VAT Directive (2006/112/EC). On import from third countries, therefore, no import VAT arises. Whether a specific coin qualifies as investment gold is decided by the annually updated list published by the European Commission. The tax estimator gives a first indication of the tax treatment.
Anti-money laundering obligations
Independently of customs law, anti-money laundering law requires, for cash payments from €10,000, an identity check (identity verification). Precious metal dealers and refineries are obliged to report suspicious transactions to the Financial Intelligence Analysis Unit (FIAU). Anyone bringing larger quantities across the border should keep purchase receipts and proof of origin to hand.
In brief
Investment gold travels within the EU free of customs duty and VAT; from €10,000 in value a declaration duty applies. Silver, platinum and palladium are subject to import VAT (18%) on entry from third countries. Purchase receipts and proof of origin protect against delays at the border.