Many investors live international lifestyles, and customers may occasionally wish to take their gold on flights when travelling abroad. Travelling with gold is usually acceptable, but there may be restrictions in place, or rules that need to be followed. This can vary depending on the airline, or the destination. The following guide will offer a brief explanation of some of the things you need to consider before taking your gold abroad.
IMPORTANT: Please note – The following guide is for information purposes only. No responsibility can be accepted by Jewellery Quarter Bullion Limited for any loss caused by acting on information we have provided. We do not offer advice on tax or customs regulations, and strongly recommend that you conduct your own independent research before travelling, and you should always check with the airline you are traveling with as well as customs at your destination for up-to-date information and rules.
Can I carry gold on an international flight?
Gold can usually be carried on international flights, but we recommend checking with the airline that you are travelling with. Security checks, and weight restrictions, may apply to your baggage.
For extra security we suggest only carrying your gold in personal/hand luggage, rather than leaving it to be processed by airport staff and placed in the cargo hold. Keeping proof of ownership to-hand is also recommended, just in case.
It is strongly recommended that you thoroughly check the customs regulations of the country you’re travelling to.
Gold import
Some countries do have restrictions on the personal importation of gold, but you are relatively clear to take your bullion to whichever country you wish.
The customs regulations of select countries do mean that declaring your gold is required when travelling there. The high-value nature of gold means that some countries – the USA for example – require full transparency. Even if there are no customs duties to be paid, it is important to follow any requests for information and to declare your goods correctly and honestly.
We suggest that customers always research the regulations of the country you are travelling to, and adhere to any rules, in order to avoid lengthy delays to your flight - or risk potential confiscation of your goods.
Bringing gold into the UK
The UK government stipulates that passengers must declare any and all goods upon arrival if they are:
- Over the duty-free allowance
- They are banned or restricted
- That are planned for sale
Precious metals, including gold, are not listed as banned or restricted. As long as the gold is a gift, or under your personal ownership, there should be no issues with bringing it in. As a precaution you can declare your gold. Customs officials will assist with any questions, and determine whether you are required to pay any duties or taxes.
For further information, please refer to the official customs site:
https://www.gov.uk/duty-free-goods/declaring-goods
Taking gold to the USA
US Customs and Border Protection rules state that there is “ no duty on gold coins, medals or bullion but these items must be declared to a Customs and Border Protection (CBP) Officer. ” If the goods are valued at over $10,000, then a FinCEN 105 form will need to be filled out.
Gold produced or bought in Cuba, Iran or Sudan is prohibited from being imported into the US, but LBMA-approved gold – as sold by GOLD.co.uk – is not prohibited, and should be fine to take to America.
More information on importing gold into America can found here:
https://help.cbp.gov/app/answers/detail/a_id/322/~/importing-gold-coins%2C-medals%2C-and-bullion
Taking gold to India
India is a popular destination for many of our customers, who like to buy gold bars and coins as gifts for relatives during the wedding season.
India has recently increased its import tax on gold bars and coins to 15%. India also has a 1kg weight limit for importing gold: items under 1kg will be taxed at the 15% rate, anything beyond 1kg will be taxed at a higher rate.
Please note: India is also subject regional rules and regulations that may differ from, and act in addition to, those of the overall country. Customers should check with individual administrative divisions to ensure they have accurate information.
Travelling with gold coins
Many gold bullion coins are attributed a face value by the mints that produce them. The Gold Britannia for example is classed as a £100 coin, but its metal value is instead worth roughly £1,600 at the time of writing.
If you are travelling to a country with restrictions in place, bear in mind that the value of the coin is in its metal, and not the face value that may have been attributed to it. These coins are bullion, and will be considered as such by customs agents. As always if you have any doubts, its better to declare unnecessarily, than to not declare and risk falling foul of any rules.
If you have any queries or concerns regarding any of the above topics, please do contact our customer support team on 0121 369 3000 or email us at support@gold.co.uk, and we will endeavour to assist you. Alternatively, contact the customs department of the country you intend to travel to.
