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Old 28.12.2009, 23:59
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Importing Silver: Obliged to declare? taxes?

I was wondering if someone knows what I shall do about this:

I would like to bring to Switzerland a few 100 Oz .999 Silver ingots from South America. The market value of the ingots probably exceeds 50K CHF. And I will probably split the cargo in two or three trips due to the weight.

Can anyone please tell me:

If I am obliged to declare this (I suppose I have to)
If I will be taxed for this import and if so, how much would it cost?

The purpose of the import is not industrial or ornamental, it will go to a safebox as savings and could eventually leave Switzerland and end up somewhere else. So the other question would be:

If afterwards I move it out of Switzerland, would I be able to recover the import taxes? how?

Thanks peop!
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Old 29.12.2009, 00:16
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Re: Importing Silver: Obliged to declare? taxes?

I believe your value cannot exceed 10000 without declaring. (when I went to the US thats what the form said)

Maybe declare it as family heirloom or something. no idea really
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Old 29.12.2009, 00:32
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Re: Importing Silver: Obliged to declare? taxes?

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I was wondering if someone knows what I shall do about this:

I would like to bring to Switzerland a few 100 Oz .999 Silver ingots from South America. The market value of the ingots probably exceeds 50K CHF. And I will probably split the cargo in two or three trips due to the weight.

Can anyone please tell me:

If I am obliged to declare this (I suppose I have to)
If I will be taxed for this import and if so, how much would it cost?

The purpose of the import is not industrial or ornamental, it will go to a safebox as savings and could eventually leave Switzerland and end up somewhere else. So the other question would be:

If afterwards I move it out of Switzerland, would I be able to recover the import taxes? how?

Thanks peop!
did i just step into a nigerian 419 alternate reality?

firstly, i wonder if it would be easier to convert the ingots into cash and then wire the amounts over (reconverting if necessary)?

if you do need to take it physically, i suggest calling the customs people and also equivalents in the south american country.

i think you win a prize for the dodgiest post on EF
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Old 29.12.2009, 00:41
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Re: Importing Silver: Obliged to declare? taxes?

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i think you win a prize for the dodgiest post on EF
I second that indeed
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Old 29.12.2009, 00:42
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Re: Importing Silver: Obliged to declare? taxes?

or maybe call dhl or ups or an importing company. they might be able to help
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Old 29.12.2009, 02:06
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Re: Importing Silver: Obliged to declare? taxes?

How do you plan to carry your silver?

A rough estimation based on 50k+ CHF would translate into nearly 100kg. I checked lately how much a DHL package for something weighting around 10 kilo was from the US, LatAm is probably even more expensive. Since my small package would already have been in the hundreds, I believe you look at a four digit number for the shipment. Including import duties, I guess you are cheaper off and it would be far more convenient to sell the silver over there and buying it again here...
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Old 29.12.2009, 02:12
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Re: Importing Silver: Obliged to declare? taxes?

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How do you plan to carry your silver?

A rough estimation based on 50k+ CHF would translate into nearly 100kg. I checked lately how much a DHL package for something weighting around 10 kilo was from the US, LatAm is probably even more expensive. Since my small package would already have been in the hundreds, I believe you look at a four digit number for the shipment. Including import duties, I guess you are cheaper off and it would be far more convenient to sell the silver over there and buying it again here...
unless they are the untaxed proceeds from the narcotics industry.

a friend of mine sent gold from Switzerland to the the UK and the banks went ape-sh!t over it.

Last edited by Phil_MCR; 29.12.2009 at 12:32. Reason: typo
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Old 29.12.2009, 09:03
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Re: Importing Silver: Obliged to declare? taxes?

I travel on a regular basis, so for me its not a problem to do it in parts, and yes, I know its a bit more than 100kg. I don't want to convert it to cash, I just want to keep the physical Silver. No, I wont use DHL, I don't really need to. No, the Silver would not pass by the US, so I don't have to declare anything there.

Weird? then I must have a few weird friends also storing Gold and Silver. No narcotics anywhere, if you wonder (and you do wonder). No Nigeria either, I'm not offering, requesting or suggesting anything to anyone, just asking if someone could help w/some facts.

Thanks guys!
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Old 29.12.2009, 10:43
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Re: Importing Silver: Obliged to declare? taxes?

I suspect the chances of anyone here being able to give you the correct answer to your question is pretty low... (sorry guys!)

So, maybe you could try contacting the correct authorities (use a public phone and don't give your name if you are paranoid ). The contact details can be found here:
http://www.ezv.admin.ch/kontakt/0191...x.html?lang=en

I would be interested if you could update this thread if you get a useful answer from them...
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Old 29.12.2009, 10:53
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Re: Importing Silver: Obliged to declare? taxes?

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I suspect the chances of anyone here being able to give you the correct answer to your question is pretty low... (sorry guys!)
Let's not be underestimating ourselves. Ingot silver is subject to import tariffs per 100kg plus VAT on top.
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Old 29.12.2009, 11:45
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Re: Importing Silver: Obliged to declare? taxes?

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I travel on a regular basis, so for me its not a problem to do it in parts, and yes, I know its a bit more than 100kg. I don't want to convert it to cash, I just want to keep the physical Silver. No, I wont use DHL, I don't really need to. No, the Silver would not pass by the US, so I don't have to declare anything there.

Weird? then I must have a few weird friends also storing Gold and Silver. No narcotics anywhere, if you wonder (and you do wonder). No Nigeria either, I'm not offering, requesting or suggesting anything to anyone, just asking if someone could help w/some facts.

Thanks guys!
I think you have been taking the "Gold Vs Fiat Money" thread too seriously

As some learned member has already suggested, check the customs, excise and import duty on it.

If you are going to bring piecemeal on your every trip, then the weight restrictions being 20-30 kg, I think it would arouse suspicion, as a small bag weighing so much. And even conviction if its an Excisable item.
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Old 29.12.2009, 11:51
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Re: Importing Silver: Obliged to declare? taxes?

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If you are going to bring piecemeal on your every trip, then the weight restrictions being 20-30 kg, I think it would arouse suspicion, as a small bag weighing so much. And even conviction if its an Excisable item.
There's no excise on silver, Napoleon... and I'm very interested in your linking excisable to conviction.

A small bag weighing so much? You've obviously never seen a dive weights bag then.

Now if you wanted to ask a really smart question, you would have asked "Would you trust the airline not to lose your 10kg of silver checked-in luggage?"
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Old 29.12.2009, 12:11
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Re: Importing Silver: Obliged to declare? taxes?

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There's no excise on silver, Napoleon... and I'm very interested in your linking excisable to conviction.

A small bag weighing so much? You've obviously never seen a dive weights bag then.

Now if you wanted to ask a really smart question, you would have asked "Would you trust the airline not to lose your 10kg of silver checked-in luggage?"
Damn... Just when I was trying to sound a bit knowledgable and helpful to other forum members, you shoot me down

No, I have not seen dive weights bag either

I said "Excisable" item (subject to import/custom control), not it would incur excise duty specifically. And since you mentioned it would amount to "import tariffs and VAT" which indicates it is subject to import control.

If its an excisable item or subject to customs control and someone tires to sneak it in, it would be "smuggling".. No? A criminal offence?


Why would you check it in? You can carry upto 8 kg in your hand luggage and maybe few kgs in checked in luggage... you know spreading the risk
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Old 29.12.2009, 12:34
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Re: Importing Silver: Obliged to declare? taxes?

maybe you can put the ingots into a weight belt and wear it?

would love to see the scene as you walk through the metal detector
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Old 29.12.2009, 12:36
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Re: Importing Silver: Obliged to declare? taxes?

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maybe you can put the ingots into a weight belt and wear it?

would love to see the scene as you walk through the metal detector
Imagine Mr T with silver ornaments
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Old 29.12.2009, 13:12
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Re: Importing Silver: Obliged to declare? taxes?

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I think you have been taking the "Gold Vs Fiat Money" thread too seriously
Not really, I'm the kind of guy that believes non-Gold backed paper money is just fine if printing is done in a controlled way, ie in a constant relation -speed included- to the amount of goods and services produced by a country.

The problem is that many countries are losing control. Controlling paper printing by linking it to Gold is like throwing your car keys down the drain because you tend to drive drunk. It's stupid and even more so when you are not an individual but a country.

Anyway, this Silver is quite old, was purchased when Silver was @ around US$4/Oz.

Thanks for the info guys. I'll find out the cost through the contact mentioned posts above.
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Old 29.12.2009, 13:13
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Re: Importing Silver: Obliged to declare? taxes?

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There's no excise on silver, Napoleon... and I'm very interested in your linking excisable to conviction.

A small bag weighing so much? You've obviously never seen a dive weights bag then.

Now if you wanted to ask a really smart question, you would have asked "Would you trust the airline not to lose your 10kg of silver checked-in luggage?"

Theoretically the silver could be placed in bond if it was likely to be re-exported but there would be costs to this such as storage and handling and it would need to be shipped as commercial commodity rather than in the bottom of someones bag.
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Old 29.12.2009, 13:16
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Re: Importing Silver: Obliged to declare? taxes?

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Imagine Mr T with silver ornaments
Or wear one of this:



and pass by with 110K in your wrist.
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Old 29.12.2009, 13:22
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Re: Importing Silver: Obliged to declare? taxes?

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Or wear one of this:



and pass by with 110K in your wrist.
What a crap watch, I can barely see what time it is....
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Old 29.12.2009, 13:24
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Re: Importing Silver: Obliged to declare? taxes?

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Theoretically the silver could be placed in bond if it was likely to be re-exported but there would be costs to this such as storage and handling and it would need to be shipped as commercial commodity rather than in the bottom of someones bag.
For this, I think you have to be a Registered business, also has to be specific warehouses or storage locations or Entrepot licence. Different countries have different regulations regarding that.

Also not sure about CH, but some countries have time limits regarding how long the goods/commodities can be stored under duty suspension.

It does not need to be re-exported, you can pay the relevant custom charges and get them "custom cleared" and bring them into the country for whatever purpose.
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