Carrying gold bullion in and out of Taiwan

Taiwan Living in Taiwan
1

I’m planning a move to Taipei early next year to do a Postdoc at Academica Sinica and plan to bring some gold bullion (bars and coins) from the UK with me. Googling around gives scant information regarding the legality of this - all gold needs to be `declared’, but does anyone know what this results in? Fees/duties etc?

This topic seems to have come up briefly and inconclusively here 3 years ago, so I wonder if anyone has any more recent experience to go on.

Also, has anybody tried leaving Taiwan with gold/silver bullion? Any problems/reactions from airport security?

Thanks

2

Well obviously they need to be declared above a certain amount otherwise you risk them being confiscated, same all over the world.

3

The US does not consider gold to be money, so it doesn’t need to be declared unless the stated coinage value is over $10,000.

10,001 silver dollars - need to declare
10 million dollars worth of gold bricks - don’t need to declare

Most other countries realize the risk of money laundering and have strict controls on gold export, but the US does not.

4

First, a warning: I don’t have any firsthand knowledge of this topic, and the information quoted below is from publications that are not recent. The information may be out of date or otherwise inaccurate.

I recommend asking the ROC government what the rules are.

5

Thanks for the replies. 62.5g seems really low - I’d be bringing in a lot more than that. The anti money-laundering arguments don’t apply - there are far easier ways of laundering $10,000. Funny how Keynesians proclaim gold is worthless metal yet (almost) every country still has strict controls on its movement.

Taoyuan airport website states that there is no limit on the amount of gold into Taiwan, but anything must be declared. In contradiction, the Taiwan customs website states that only gold worth more that $20,000 US must be declared when entering.

I suppose I’ll just try it :s

6

[quote=“Sloq”]
I suppose I’ll just try it :s[/quote]

Good luck, but be prepared to pay customs.

See you on campus at Academia Sinica! :slight_smile:

7

Why are you lugging around shitloads of gold? You want to convert into money at some point? Try something lighter next time!

8

There has to be a courier service that could do this for you.

9

There is. It’s called a bank transfer. :roflmao:

But seriously, this is a classic example of when a thousand in cash is worth more than a thousand in gold. Or, in this case, a thousand in anything more conveniently transported.

The gold argument, haha.

10

[quote=“trubadour”]There is. It’s called a bank transfer. :roflmao:

But seriously, this is a classic example of when a thousand in cash is worth more than a thousand in gold. Or, in this case, a thousand in anything more conveniently transported.

The gold argument, haha.[/quote]

Possibly I’m being over-generous, but have you maybe heard of something called `diversification’? What leads you to believe that I’m not transferring a greater or equal amount in cash? :unamused:

I’d disagree with the convenience argument - it looks like a $20,000 US limit applies so I’m fine. Taiwan always seems to have been a bit anal about gold - probably something to do with stopping the mainland gold leaving again :roflmao:

11

Your swipe at Keynesian economics. No one says gold has no economic value yet this case clearly points to limitations in it’s valuation by gold-standard-types.

Even posting here about how to get gold into the country is decreasing its value. But at least it won’t rust. :roflmao:

12

Unless you plan to move to Taiwan permanently, why wouldn’t you simply leave the gold in the UK?

13

And risk someone finding the map and digging it up?? Are ye crazy, matey?? Arr!!

14

Because it keeps him safe in case financial armageddon happens.

15

What, as a weapon?

16

If Minecraft has taught me anything is that gold weapons are worse that useless.