Russian Federation (refine) [Licensed export (miner, refiner or bank)] → Hong Kong (China SAR) → China (mainland) → United Arab Emirates · Reconcile assays and pay the balance

Extract gold ore or placer sands within the licensed plot

من

Subsoil user (gold mining company)

يتطلب

Subsoil-use licence (electronic); Special-registration register entry (FPP)

الشكل

Ore (in situ / run-of-mine) → Concentrate / black sand

• Law 'On Subsoil', art. 11

Process on site (gravity, leaching, smelting) into dore bars or placer (shlikh) gold; the metal must then go to refining

من

Subsoil user (gold mining company)

يُصدر

Batch number / GIIS UIN of the dore lot

الشكل

Concentrate / black sand → Doré bar - unstamped

Processing technology is industry practice; the law only requires "necessary processing" before refining.

• Federal Law 41-FZ, art. 20(1)

Sign a refining agreement with a listed refiner; it must set the delivery schedule and volumes, limits of harmful substances, the inventory of each lot, commission acceptance with control sampling, timing and specifications of the output, return-waste norms, the recipients of refined metal, the owner's delivery obligations to the State Fund or regional funds, liability and dispute settlement

من

Subsoil user (gold mining company)

يُصدر

Refining (tolling) agreement miner-refiner

• Government Decree 972, Procedure para 3, para 3

Record the lot in GIIS DMDK and issue an electronic accompanying document (ESD) with the lot's UIN for dispatch to the refiner

من

Subsoil user (gold mining company)

يتطلب

Batch number / GIIS UIN of the dore lot; Refining (tolling) agreement miner-refiner

يُصدر

ESD for dispatch of dore/placer gold to the refiner

[not-read] The GIIS DMDK Rules (Decree 270) were not read in full; the ESD fields for dore were not seen.

• Government Decree 270 of 26.02.2021

Transport dore to the refinery by air, sea, inland water, rail or a specialised equipped road vehicle under armed escort

من

Secure carrier of valuables

يتطلب

ESD for dispatch of dore/placer gold to the refiner

• Federal Law 41-FZ, art. 29(3)

Receive the lot, weigh, sample and assay; record receipt in GIIS DMDK

من

Refining organisation on the Government list

يتطلب

ESD for dispatch of dore/placer gold to the refiner; Refining (tolling) agreement miner-refiner

يُصدر

Refiner receipt: weighing and sampling record; Refiner assay of the incoming lot (metallurgical balance)

• Government Decree 972, Procedure paras 3, 7, paras 3, 7

Refine to standard bars (gold at least 995 fine; usually 999.9)

من

Refining organisation on the Government list

الشكل

Doré bar - unstamped → 999.9 kilobar

[unconfirmed] 999.9 as the usual fineness is market practice; the legal minimum for refined gold is 995 parts per 1,000 (41-FZ art. 1).

• 41-FZ art. 1 (definition of refining), art. 20(1), art. 1

Issue the quality document for each bar - a passport for a standard bar or a certificate for a measured bar (FPP Order 154n, to 28 Feb 2027); from 1 Mar 2027 a single certificate generated in GIIS DMDK (FPP Order 144n); prepare the bar list

من

Refining organisation on the Government list

يُصدر

Passport for standard bar / certificate for measured bar of refined precious metal (FPP Order 154n; replaced by a single certificate under Order 144n from 1 Mar 2027); Bar list (serials, weights, fineness)

• Government Decree 972, Procedure para 7¹; FPP Orders 154n and 144n, para 7¹

Deliver bars to the owner (or to the buyer on the owner's instruction) with a GIIS DMDK ESD; metal is booked on the owner's balance and enters civil circulation

من

Refining organisation on the Government list

يتطلب

Passport for standard bar / certificate for measured bar of refined precious metal (FPP Order 154n; replaced by a single certificate under Order 144n from 1 Mar 2027)

يُصدر

ESD for shipment of refined bars to the owner or buyer

• Federal Law 41-FZ, art. 20(3)

Screen buyer and destination: Russian-origin gold exported after the sanctions dates cannot be imported into the EU, UK, US, Switzerland or Japan, and Russian bars made from 7 Mar 2022 are not LBMA Good Delivery; sales go to non-sanctioning markets

من

Licensed exporter (mining company, refiner or bank holding a Minpromtorg export licence)

Sign the export contract and issue the commercial invoice

من

Licensed exporter (mining company, refiner or bank holding a Minpromtorg export licence)

يُصدر

Export contract with foreign buyer; Commercial invoice

Apply to Minpromtorg for an export licence (one-off for a contract, or a general licence under Decree 1126 or 867); Minfin approves the application in GIIS DMDK within 10 working days (Order 10n from 1 Sep 2026), except credit organisations' applications for refined gold, silver, platinum and palladium bars since 8 May 2026

من

Licensed exporter (mining company, refiner or bank holding a Minpromtorg export licence)

يتطلب

Export contract with foreign buyer; Special-registration register entry (FPP)

يُصدر

Minfin conclusion (permissive document) approving an export-licence application (Order 10n from 1 Sep 2026); EAEU export licence issued by Minpromtorg (one-off or general)

Licence validity and issue time from EEC Council Decision 125 Rules paras 9 and 13: a one-off licence is valid up to 1 year from its start (may be limited to the contract term); a general licence up to 1 year; the licensing authority decides within 15 working days of receiving the documents unless the Commission decision introducing the measure sets another term. [unconfirmed] Decision 125's own in-force date depends on the Protocol of 25.05.2023 (see ru.law-eec-125).

• Presidential Decree 1137, Regulation paras 4 and 22; Minfin Order 10n, paras 4, 22

File the application letter for FPP state control through GIIS DMDK with: the export licence copy (table-1 goods), the contract, the specification, the invoice, the calculation of the value of the precious metals (within 5% of world prices), special-registration record or bank licence, proof of lawful ownership, the precious-metal content document, technical documentation, the subsoil licence (mining subjects) and the document on the State Fund's refusal to buy (mining and producing subjects)

من

Licensed exporter (mining company, refiner or bank holding a Minpromtorg export licence)

يتطلب

EAEU export licence issued by Minpromtorg (one-off or general); Export contract with foreign buyer; Commercial invoice; Document on the authorised bodies' refusal (non-exercise) to purchase; Passport for standard bar / certificate for measured bar of refined precious metal (FPP Order 154n; replaced by a single certificate under Order 144n from 1 Mar 2027)

يُصدر

Application (zayavka / letter-application) for FPP state control on export or import, filed in GIIS DMDK; Calculation of the value of precious metals in the consignment

[transcription] EEC Board Decision 30 read in the ConsultantPlus copy published by the FPP; the FPP list reproduces the same paragraph.

• EEC Board Decision 30, Annex 14, Annex 2 (Rules) para 4(b); Minfin Order 11n (valuation), Rules para 4(b)

State control of the whole consignment within 5 working days: check against documents, origin, compliance with transaction rules, valuation, optional sampling; issue the act of state control (3 copies; the first for customs) or a refusal

من

Federal Assay Chamber

يتطلب

Application (zayavka / letter-application) for FPP state control on export or import, filed in GIIS DMDK

يُصدر

Act of state control (akt gosudarstvennogo kontrolya) of the Federal Assay Chamber

• EEC Board Decision 30, Annex 14, Annex 2 (Rules) paras 3, 8, 10; 41-FZ art. 26², Rules para 10

Lodge the export declaration at a specialised customs post, presenting the export licence and the act of state control

من

Licensed exporter (mining company, refiner or bank holding a Minpromtorg export licence)

يتطلب

EAEU export licence issued by Minpromtorg (one-off or general); Act of state control (akt gosudarstvennogo kontrolya) of the Federal Assay Chamber; Commercial invoice

يُصدر

Export goods declaration (accepted and released by customs); Certificate of origin (general form) for non-EAEU destinations

[not-read] The customs rules on the declaration itself were not read.

• EEC Board Decision 30, Annex 14 paras 4-5; Presidential Decree 1137 para 19¹, Regulation paras 4-5

Carry the sealed consignment to the airport and hand to the airline (valuable cargo)

من

Secure carrier of valuables

يتطلب

Export goods declaration (accepted and released by customs)

يُصدر

Packing list; Air waybill

The armed-escort rule (41-FZ art. 29(3)) covers transport to the airport; no rule on the hand-over to the airline was read.

• Federal Law 41-FZ, art. 29(3)

Onboard the supplier: KYC and source-of-supply review. Hong Kong law makes CDD mandatory for a Category B registrant only for specified cash transactions (AMLO s.5A(5A)); for bank-paid purchases the pack is the importer's own risk choice, with LBMA/OECD guidance applying where the buyer or refiner is bound by it

من

Registered bullion dealer / trader (DPMS registrant)

يتطلب

DPMS Category A registration certificate; Commercial invoice

يُصدر

Supplier KYC pack held by the Hong Kong importer; Customer due diligence file (Category B, specified cash transaction); Supplier's commercial invoice

[inferred] No Hong Kong rule found that requires origin documents for imported gold; the KYC pack is commercial practice outside cash transactions. The legal scope of CDD is read in the Ordinance.

• AMLO s. 5A and Sch. 2 (only for specified cash transactions), s. 5A(5A)-(5B)

  “An AML/CTF requirement that applies to a DNFBP who is a Category B PMS registrant only applies when, by way of business, the registrant carries out, in Hong Kong with a customer, a specified cash transaction that is not an excluded transaction”

Fly the consignment into HKIA and deliver it to the importer's vault. If it is transhipment cargo (consigned on a through bill of lading or through air waybill to a place outside Hong Kong) or transit cargo, no Hong Kong declaration is required and the gold never enters the Hong Kong market

من

Secure logistics carrier / forwarder

يتطلب

Supplier's commercial invoice; Air waybill; Export customs declaration accepted by the dispatching country's customs

يُصدر

Inbound air waybill

• Import and Export (Registration) Regulations (Cap. 60E), reg. 3(a)-(b); Cap. 60 s. 2 (transhipment cargo, article in transit)

Receive the bars, weigh them and check serials against the bar list; credit the importer's allocated account

من

Precious-metals vault operator

يتطلب

Inbound air waybill

يُصدر

Weight and quality verification record; Bar list (serials, weights, fineness); Allocated account weight list

[inferred] Vault intake practice is not documented in an official source; the clearing press release confirms designated vaults record deposits.

Lodge the import declaration within 14 days after the day of importation using the specified system (Trade Single Window, or during the transition a government-appointed service provider). Gold bars of fineness 995.0 or above (HKHS 7108 1210, 7108 2010) go on Form 1B with no declaration charge; other gold pays the charge. No customs duty or VAT; gold is not an exempted article

من

Registered bullion dealer / trader (DPMS registrant)

يتطلب

Inbound air waybill; Supplier's commercial invoice

يُصدر

Hong Kong import declaration (Cap. 60E, lodged electronically within 14 days)

• Import and Export (Registration) Regulations (Cap. 60E), regs 3, 4(1)-(2), 7, 8(1), (1AA), (4), 18

If the gold is paid for with physical currency or BNIs above HK$120,000 carried across the boundary, declare the cash (not the gold) to C&ED: advance CDS declaration for cargo, red channel for arriving travellers

من

Registered bullion dealer / trader (DPMS registrant)

يُصدر

CBNI advance electronic declaration (CDS) for cash moved as cargo

• Cap. 629, ss. 2, 4, 9, 11; Sch. 4

Mainland buyer (holder of a PBOC gold import qualification) obtains a PBOC Gold and Gold Products Import/Export Permit for the consignment: one shipment, one permit, used within 40 working days

من

Mainland importer holding a PBOC gold import qualification

يُصدر

PBOC Gold and Gold Products Import/Export Permit (中国人民银行黄金及黄金制品进出口准许证)

• PBOC/GACC gold import-export measures, Arts. 3, 8, 17

Agree the sale with the Mainland importer and release bars (typically 999.9 kilobars or bank-refined bars) to the cross-boundary carrier

من

Registered bullion dealer / trader (DPMS registrant)

يتطلب

PBOC Gold and Gold Products Import/Export Permit (中国人民银行黄金及黄金制品进出口准许证); Allocated account weight list

يُصدر

Hong Kong exporter's commercial invoice; Packing list; Outbound air waybill / cross-boundary transport document

[unconfirmed] Bar form preferred by the Mainland market not confirmed from an opened source.

Lodge the Hong Kong export declaration within 14 days; C&SD records the flow as an export to the Mainland

من

Registered bullion dealer / trader (DPMS registrant)

يتطلب

Hong Kong exporter's commercial invoice

يُصدر

Hong Kong export / re-export declaration (Cap. 60E, lodged within 14 days)

C&SD FAQ Q1: Hong Kong is a separate customs territory, so a declaration is required for goods exported to the Mainland.

• Import and Export (Registration) Regulations (Cap. 60E), reg. 5(1)-(2)

Clear Mainland customs by presenting the PBOC permit, then register the gold on the State Council-approved gold spot exchange and complete its first trade there

من

Mainland importer holding a PBOC gold import qualification

يتطلب

PBOC Gold and Gold Products Import/Export Permit (中国人民银行黄金及黄金制品进出口准许证); Hong Kong export / re-export declaration (Cap. 60E, lodged within 14 days); Export customs declaration accepted by the dispatching country's customs

This step happens under Mainland law and belongs to the China module; kept here to show the hand-off.

• PBOC/GACC gold import-export measures, Arts. 6, 17

Hold the PBoC gold import/export qualification (bank that is an SGE financial member or market maker, or qualified mining group or refiner)

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

• Gold and Gold Products Import/Export Measures, Arts. 7, 8, 10

Apply to the PBoC for a permit for the batch: application form, import contract and (on repeat applications) nothing further unless details changed

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يُصدر

Gold and Gold Products Import/Export Application Form (《黄金及黄金制品进出口申请表》) with contract; Gold import/export contract (required with the permit application)

• Gold and Gold Products Import/Export Measures, Art. 10

Examine (verification by two or more staff where needed) and decide within 20 working days; issue the permit, one per batch, usable within 40 working days

من

People's Bank of China (permit issuer and reserve holder)

يتطلب

Gold and Gold Products Import/Export Application Form (《黄金及黄金制品进出口申请表》) with contract; Gold import/export contract (required with the permit application)

يُصدر

PBoC permit (import batch)

• Gold and Gold Products Import/Export Measures, Arts. 3, 14-17

Pay the foreign seller through the bank under foreign-exchange rules

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يتطلب

Gold import/export contract (required with the permit application)

يُصدر

Import payment through an FX-authorised bank

[not-read] SAFE detailed goods-trade FX rules (current-account guidelines) not held; the FX Regulations require a genuine transaction basis checked by the bank.

• Gold and Gold Products Import/Export Measures; FX Regulations, Measures art. 23; FX Regulations arts. 12, 14

Declare the gold to Customs (HS 7108) presenting the PBoC permit; import-stage VAT is exempt for gold (incl. standard gold) and gold ore

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يتطلب

PBoC permit (import batch); Export customs declaration accepted by the dispatching country's customs; Air waybill; Refiner's certificate for the bars it produced (serials, fineness, weights, year); Commercial invoice

يُصدر

Customs import declaration (进口货物报关单), HS 7108

[unconfirmed] Import duty rate for 7108 not held (cn.gap-tariff). [unconfirmed] Continuation of the import-stage VAT exemption after 1 Jan 2026 (cn.gap-import-vat-2026; MOF/GAC/SAT 2026 No. 17 read only in summary [summary]).

• Gold and Gold Products Import/Export Measures; Customs Law; Caishui [2002] 142, Measures arts. 3, 17; Customs Law art. 24; Caishui 142 point 1

Register the imported gold on SGE and complete its first trade there (duty to balance domestic physical supply)

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يتطلب

Customs import declaration (进口货物报关单), HS 7108

يُصدر

SGE registration and first-trade record of imported gold; SGE Application for Load-In (Delivery Rules Annex 4 / Vault Measures Annex 3)

• Gold and Gold Products Import/Export Measures, Art. 6

Report execution of the permit to the PBoC

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يتطلب

PBoC permit (import batch)

يُصدر

Report to PBoC on use of the import/export permit

• Gold and Gold Products Import/Export Measures, Art. 19

Open an FT account at a margin custodian bank and trade International Board contracts (iAu99.99, iAu99.5) in offshore RMB

من

SGE international member or international client (SGEI, Shanghai FTZ)

يُصدر

Free Trade (FT) account statement in offshore RMB (SGEI)

• SGE Member Management Measures (2026); SGEI Business Management Measures, Member Measures Arts. 3-4; SGEI Measures arts. 4, 20-21

Bring bars from abroad into an International Board vault (Customs-supervised, bonded) without a PBoC permit (exempt channel), through the vault's designated carrier and customs broker, giving SGE the invoice (incl. origin), packing list, bar list and non-wood packaging declaration; load-in needs SGE authorisation and bars from SGE-accredited or recognised international suppliers

من

SGE international member or international client (SGEI, Shanghai FTZ)

يتطلب

Air waybill; Refiner's certificate for the bars it produced (serials, fineness, weights, year)

يُصدر

IB vault entry papers; SGE Application for Load-In (Delivery Rules Annex 4 / Vault Measures Annex 3)

[not-read] Customs' own entry formalities for the bonded zone (declaration form, supervision code) not held; the SGE guidelines say the vault's appointed customs broker files them.

• Gold and Gold Products Import/Export Measures; SGE IB Vault Guidelines; SGE Vault Measures; Delivery Rules, Measures art. 20(2); Guidelines arts. 4-9; Vault Measures arts. 4, 12; Delivery Rules Art. 27 and Annex 2

Hold the bars in an International Board vault (3 bonded vaults: trading vaults in Shanghai (2) and Shenzhen (1); safekeeping vault in Shanghai). SGE's January 2026 fee schedule lists IB storage rates, while the IB page says storage and in/out fees are currently waived

من

SGE designated vault / International Board certified vault operator

[conflict] cn.div-conflict-ib-fees: fee schedule rates versus the waiver stated on the IB page.

• SGE Vault Measures; SGE fee schedule (Jan 2026), Vault Measures Art. 3

Withdraw for re-export abroad (exempt channel: invoice and SGE withdrawal papers; carrier appointed by the vault) or for entry into the domestic market (only by a member or client holding the gold import/export qualification, with the PBoC permit copy 1 and a customs import declaration); the destination is reported to SGE and Customs

من

SGE international member or international client (SGEI, Shanghai FTZ)

يُصدر

SGE Application for Load-Out and Application of Take-delivery

• Gold and Gold Products Import/Export Measures; SGE IB Vault Guidelines; Delivery Rules; Vault Measures, Measures arts. 4, 20; Guidelines arts. 10-12, 17-19; Delivery Rules Art. 42; Vault Measures Arts. 17-18

Apply to the PBoC for an export permit for the batch (qualified entity only; application form and export contract)

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يُصدر

Gold and Gold Products Import/Export Application Form (《黄金及黄金制品进出口申请表》) with contract

• Gold and Gold Products Import/Export Measures, Arts. 8, 10

Issue the export permit (one batch, 40 working days)

من

People's Bank of China (permit issuer and reserve holder)

يتطلب

Gold and Gold Products Import/Export Application Form (《黄金及黄金制品进出口申请表》) with contract

يُصدر

PBoC permit (export batch)

• Gold and Gold Products Import/Export Measures, Arts. 3, 17

Withdraw the bars from the SGE vault and file the export declaration with the permit; the export of gold-containing goods is VAT-exempt without refund

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يتطلب

PBoC permit (export batch)

يُصدر

Customs export declaration (出口货物报关单), HS 7108; Air waybill (export)

• Gold and Gold Products Import/Export Measures; MOF/SAT Announcement 2026 No. 11, Measures art. 3; 2026 No. 11 art. 6(1)1(4) and annex 8 (HS 710812)

Report permit execution to the PBoC and receive proceeds under FX rules

من

Bank holding PBoC gold import/export qualification (SGE financial member or market maker)

يتطلب

PBoC permit (export batch)

يُصدر

Report to PBoC on use of the import/export permit

• Gold and Gold Products Import/Export Measures; FX Regulations, Measures arts. 19, 23; FX Regulations arts. 9, 12-13

Pre-contract KYC on the Nigerian exporter: corporate docs, UBO, MBC/export-permit evidence, mine-of-origin declaration

من

DMCC importer / trader

يتطلب

Bank-to-bank reference confirmation (not a public letter) on the Nigerian exporter

يُصدر

Importer's KYC/due-diligence pack on the Nigerian exporter; Evidence pack from the Nigerian exporter: export licence/permit, mine location, legal existence of the ASM operation

[conflict] For an ordinary DMCC trader the binding CDD duties are those of CR 134/2025 (Arts. 5-14); DMCC RBD-GPM binds only its Accredited Members (see ae.div-dmcc-role). [inferred] "Highest-scrutiny category" for ASM is the model's reading of Rule 1.6, not a phrase in the Rules.

• DMCC RBD-GPM Rules v2/2020; Cabinet Resolution 134/2025, DMCC Rules 1.4-1.8 (KYC; Rule 1.6 specific requirements for ASM supply), Rules 2.4-2.8 (red flags); CR 134 Art. 25(1) (records at least 5 years)

File the Dubai Customs declaration on Mirsal 2 with invoice, packing list, certificate of origin and air waybill (for a free-zone consignee the Customer Guide's 'FZ Transit In' type appears to apply, not import to local); disclose the precious metals crossing the border

من

DMCC importer / trader

يتطلب

Air waybill; Certificate of origin; Origin country's export authorisation for the gold (permit, licence or clearance issued by the mining or trade authority); Commercial invoice; Packing list

يُصدر

Dubai Customs declaration filed online (for goods entering a free zone: "FZ Transit In"); Disclosure of precious metals crossing the UAE border (cargo included)

No UAE import permit for gold: Dubai Customs lists DMCC as restricting authority only for "Pearls, Diamonds, Rough Diamonds etc." (Customer Guide App. I). FZ Transit In (s.15.12.2): "foreign goods originated from any country may be brought into the free zones without being subject to customs duties or taxes. The owner of the goods in the Documents shall be a Free Zone Licensee"; documents MAWB/HAWB, commercial invoice, certificate of origin, packing list, delivery order. Mainland duty: the GCC exempted list's gold line is printed "71060000" (silver's heading) [summary][blocked]. Cross-border disclosure: see ae.doc-pm-disclosure-ae. [unconfirmed] Neither Dubai Customs guide names the declaration type for gold into a DMCC company or the DMCC Vault. [conflict] Supporting documents are due within 14 days (Customer Guide s.15.7) or 30 days (Service Guide v9 App. A) - see ae.div-customs-doc-deadline. KPMG (secondary): periodic "Goods Consumption within FZ" declaration under Dubai Customs Notice 17/2020.

• Dubai Customs Customer Guide v3.03; Dubai Customs Service Guide v9; Federal Decree-Law 10/2025, Customer Guide s.15.12.2 (FZ Transit In), App. J (DMCC declarations at the Customer Service Center at DMCC); FDL 10/2025 Art. 10 (cross-border disclosure)

Import VAT: registered importer accounts for VAT on its own return (reverse charge); investment-grade gold is zero-rated, doré is not

من

DMCC importer / trader

يُصدر

Import VAT accounted on the importer's own VAT return (registered importer)

Investment precious metals = gold, silver or platinum of 99% purity or more, in a form tradeable in global bullion markets (ER Art. 36(2), not amended in the consolidation to CD 100/2025); their supply or import is zero-rated (Art. 45(8)). [inferred] Doré below 99% does not qualify. [unconfirmed] DMCC's absence from the Designated Zones was checked only against the 2017 list (secondary copy). [not-read] FDL 16/2025 amendments (from 1 Jan 2026) not held.

• Federal Decree-Law 8/2017 on VAT; Executive Regulation (Cabinet Decision 52/2017, as amended; consolidated to CD 100/2025), Law Art. 45(8), 48(1), 49; ER Art. 36(2), 48(1), 48(5), 50(1)

If the importer sells the doré to the refiner (rather than toll-refining it): refiner gives two written statements before supply; importer issues a tax invoice without VAT (reverse charge)

من

DMCC importer / trader

يُصدر

Refiner's two written statements: VAT-registered, and buying to resell or use in production; Tax invoice without VAT for the importer-to-refiner sale

[inferred] Conditional: the model reads the reverse charge as not applying where the refiner only toll-refines metal the importer keeps title to; the sources read do not address toll refining.

• Cabinet Decision 127/2024; VAT Executive Regulation, CD 127 Art. 2(1), 2(3) (two written declarations before supply; supplier keeps them and verifies registration), 2(4) (no declarations: no reverse charge); ER Art. 59(1)(l)

Deposit refined bars into DMCC Vault (operated by Brink's)

من

DMCC Vault (operated by Brink's)

يتطلب

Manufacturer certificate accompanying UAEGD bars (states year of manufacture if not stamped)

يُصدر

DMCC Vault deposit/withdrawal receipt; DMCC Tradeflow warrant (optional; used for pledging and title transfer)

DMCC: the Vault is "Owned by DMCC and operated by Brink's Global Services" and "DMCC can assist with all customs processes". [not-read] Deposit/withdrawal documents and any bonded status of the Vault are not published; the receipt document is inferred.

Reconcile the provisional (origin) assay against the Dubai refiner's outturn assay: within the contract's splitting limit the two assays are commonly averaged; beyond it an umpire assay decides (the assay closer to the umpire's is used, and the party further from it pays the umpire); settle the difference and pay the final balance

من

DMCC importer / trader

يتطلب

Refiner outturn/assay report; Commercial invoice

يُصدر

Final invoice from the Nigerian exporter (against Dubai outturn assay); Reconciliation of provisional vs outturn assay; Balance/final payment wire; DPMSR filed in goAML for the final settlement

[unconfirmed] Debit and credit notes are not described in the two contracts read; the Johnson Matthey contract settles by metal credit, adjusted after the umpire result.

• Refining/sale contract settlement clause -- splitting limit + umpire assay if the two figures diverge beyond it

Receive payment through an authorised bank; the statutory repatriation duty (173-FZ art. 19(1)(1)) applies to rouble-priced contracts but not, under art. 19(8), to FX-priced gold contracts; foreign currency credited under the contract is subject to mandatory sale in the share set by the Government Commission (Decree 79 para 2)

من

Licensed exporter (mining company, refiner or bank holding a Minpromtorg export licence)

يُصدر

Receipt of export proceeds

[inferred] Exemption of FX-priced gold contracts read from the absence of 7108 in the art. 19(8) list. [unconfirmed] The current mandatory-sale share is not in a legal act found. Western bank channels are largely closed by sanctions (OFAC FAQ 1029).

• Federal Law 173-FZ art. 19; Presidential Decrees 79 and 430, art. 19