Australia (refine) → Switzerland → Hong Kong (China SAR) · Sale on HKGX or OTC, with payment and AML duties

Enrol with AUSTRAC within 28 days of starting a designated service and adopt an AML/CTF program (bullion dealing; from 31 Mar 2026 also buying or selling precious metal for $10,000 or more in physical currency or virtual assets, with obligations from 1 Jul 2026)

من

Bullion dealer / dealer in precious metal

يُصدر

AUSTRAC enrolment; AML/CTF program

• AML/CTF Act 2006, s.6(3) table 2 items 1-2; ss.26B, 51B

  “buying or selling one or more of the following items in the course of carrying on a business, where the purchase involves the transfer of physical currency or virtual assets (or a combination of physical currency and virtual assets) with a total value of not less than $10,000, whether the purchase is made in a single transaction or in several transactions that are linked or appear to be linked: (a) precious metal; (b) precious stones; (c) precious products”

Carry out customer due diligence before providing the designated service; enhanced due diligence in higher-risk cases

من

Bullion dealer / dealer in precious metal

يتطلب

AUSTRAC enrolment

يُصدر

Customer due diligence file

• AML/CTF Act 2006, s.28 (initial CDD); s.39E item 11 (bullion under $5,000)

  “A reporting entity must not commence to provide a designated service to a customer if the reporting entity has not established on reasonable grounds each of the matters in subsection (2)”

Sell or buy bars: input-taxed supply of precious metal (no GST charged, no input credits), or GST-free if it is the refiner's first supply after refining to a dealer

من

Bullion dealer / dealer in precious metal

يتطلب

Customer due diligence file

يُصدر

Commercial invoice (GST-free / input-taxed treatment stated)

• A New Tax System (Goods and Services Tax) Act 1999, s.40-100; s.38-385

Report each threshold transaction (transfer of $10,000 or more in physical currency) to AUSTRAC within 10 business days

من

Bullion dealer / dealer in precious metal

يُصدر

Threshold transaction report

• AML/CTF Act 2006, s.43; s.5 threshold transaction

Report suspicious matters to AUSTRAC (within 3 business days, or 24 hours for terrorism financing suspicions)

من

Bullion dealer / dealer in precious metal

يُصدر

Suspicious matter report

• AML/CTF Act 2006, s.41

Hold a granted mining lease (or state equivalent) with approvals to mine

من

Mining tenement holder (mining lease) operating a gold mine and mill

يتطلب

Mining lease

[not-read] Mining proposal and closure plan approvals not read.

• Mining Act 1978 (WA), ss.71, 78, 85

Mine ore, process (CIL/gravity), and pour doré bars at the mine site; mark each bar

من

Mining tenement holder (mining lease) operating a gold mine and mill

يُصدر

Mine doré bar number and mine mark

الشكل

Ore (in situ / run-of-mine) → Doré bar - unstamped

Mine-site processing described only generally.

Collect doré under secure transport and deliver to the refinery

من

Secure precious-metals carrier / airline

يتطلب

Refining (toll) agreement between miner and refiner

Receive, weigh and sample the doré; issue receipt. For WA royalty, gold metal is taken to be produced on delivery to the refinery if delivered within 3 months of the gold-bearing material being obtained; otherwise on the day after the 3-month period

من

Australian gold refiner (LBMA Good Delivery-listed)

يُصدر

Refinery receipt and weigh-in of doré

• Mining (Royalties) Regulations 2025 (WA), rr. 29, 31-32

Assay the doré and issue the outturn statement; credit the miner's metal account with fine gold (or buy the gold outright)

من

Australian gold refiner (LBMA Good Delivery-listed)

يتطلب

Refinery receipt and weigh-in of doré

يُصدر

Outturn / assay statement; Metal account statement

First sale of refined gold: GST-free where it is the first supply after refining by or on behalf of the supplier, by a refiner of precious metal, to a dealer in precious metal; otherwise the supply of precious metal is input taxed

من

Mining tenement holder (mining lease) operating a gold mine and mill

يتطلب

Metal account statement

يُصدر

Commercial invoice (GST-free / input-taxed treatment stated)

[conflict] au.div-gst-scrap (refining from scrap).

• A New Tax System (Goods and Services Tax) Act 1999, s.38-385; s.40-100; s.195-1

Refine doré to 999.9 kilobars/minted bars or 995+ Good Delivery bars; cast, mark (refiner mark, serial, fineness) and record

من

Australian gold refiner (LBMA Good Delivery-listed)

يتطلب

Outturn / assay statement

يُصدر

Bar list for refined bars

الشكل

Doré bar - unstamped → 999.9 kilobar

Maintain LBMA Good Delivery and RGG compliance; publish the annual RGG compliance report with independent assurance

من

Australian gold refiner (LBMA Good Delivery-listed)

يُصدر

Refiner RGG report and assurance

Report suspicious matters to AUSTRAC (refiner bullion business is a reporting entity)

من

Australian gold refiner (LBMA Good Delivery-listed)

يُصدر

Suspicious matter report

[inferred] The refiner is a reporting entity because it buys and sells bullion in a bullion-dealing business (s.6 table 2 item 1); the Perth Mint enforceable undertaking confirms it for that refiner.

• AML/CTF Act 2006, s.6(3) table 2 item 1; s.41

Prepare commercial invoice and bar list; no export permit or licence is required for gold

من

Exporter of bars (refiner, dealer or miner selling offshore)

يتطلب

Bar list for refined bars

يُصدر

Commercial invoice (GST-free / input-taxed treatment stated)

[inferred] Absence of a gold export permit read from the Regulations as a whole; commercial invoice and bar list are commercial practice.

• Customs (Prohibited Exports) Regulations 1958 (no gold item)

Lodge the export declaration in the Integrated Cargo System (required for consignments above $2,000 FOB) and obtain the export entry advice (authority to deal) with its number before loading; a declaration may be refused if the intended export day is more than 6 months ahead; if not exported within 30 days of the intended day, withdraw or amend within 7 days; keep commercial documents 5 years

من

Licensed customs broker

يتطلب

Commercial invoice (GST-free / input-taxed treatment stated)

يُصدر

Export declaration and export entry advice (authority to deal, with export entry advice number)

• Customs Act 1901, ss.113, 114, 114C, 116, 240(1A); Customs Regulation 2015 r. 82

  “an FOB value not exceeding $2,000 or such other amount as is prescribed”

Obtain a certificate of origin only if the buyer or the destination requires one (e.g. to claim an FTA preference); an exporter claiming Australian origin for a preferential tariff in China, Hong Kong or the UK may be required by the ABF to produce origin records and answer questions for verification by the importing customs

من

Exporter of bars (refiner, dealer or miner selling offshore)

يُصدر

Certificate of origin (on request)

[not-read] Issuing bodies and forms for certificates of origin not researched (au.gap-cert-origin); no Australian export rule requires one for gold.

• Customs Act 1901, Divisions 4J, 4K, 4M (ss.126AOA-126AOD, 126APA-126APD, 126ARA-126ARD)

Ship by secure air freight under air waybill

من

Secure precious-metals carrier / airline

يتطلب

Export declaration and export entry advice (authority to deal, with export entry advice number)

يُصدر

Air waybill

Carrier practice not documented in the sources read.

Onboard Dubai supplier: KYC pack, chain-of-custody statement, mine-of-origin/scrap declaration, DMCC/UAEGD audit reports

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

يتطلب

Air waybill

يُصدر

Refiner file on the Dubai supplier: identity, commercial-register extract, proof of lawful acquisition (export permit/declaration, mining licence where applicable), SECO embargo check, origin clarification (kept for the period the EMKV sets: zehn Jahren); KYC questionnaire for mined material, naming each ASM supplier in the chain (team/cooperative, aggregators, local exporter); Independent assurance report on the Dubai refiner's responsible sourcing practices, as an Intermediate Refiner (RGG v9 s.2.3 enhanced due diligence for high-risk recycled gold); Site visit at the mine of origin before transacting (or within 6 months) - enhanced due diligence

[inferred] Asking for DMCC/UAEGD audit reports and a chain-of-custody statement is the model's application to a Dubai supplier; the LBMA Responsible Gold Guidance and the BAZG melter due-diligence directive do not name them. The EMKV duties are read in the official fedlex consolidation held on the server. In the EMKV record on the server these articles are parsed into the section labelled Anhang (section id in the refs), not into their own sections; the quotes are from that section.

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 1 (parsed into section sch-2)

  “Der Inhaber einer Schmelzbewilligung darf Schmelzgut nur von Per-”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 1 (lawful acquisition) (parsed into section sch-2)

  “die sich über deren rechtmässigen Erwerb aus- weisen können.”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 2 (identity) (parsed into section sch-2)

  “Es muss die Identität des Kunden anhand eines beweiskräftigen Do- kumentes wie Pass oder Identitätskarte überprüfen.”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168a Abs. 3 (origin clarification) (parsed into section sch-2)

  “Bestehen über die Herkunft der Ware Zweifel oder stammen die An- gebote von Unbekannten, so ist der Inhaber der Schmelzbewilligung verpflichtet, die Herkunft des Schmelzgutes besonders sorgfältig abzu- klären.”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKV (SR 941.311, Stand 1 Jan 2024) Art. 168b Abs. 3 (retention) (parsed into section sch-2)

  “Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKG Art. 31a Abs. 1

  “Wer gewerbsmässig Schmelzgut im Sinne von Artikel 1 Absatz 3”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), EMKG Art. 31a Abs. 6

  “Die Absätze 1-5 gelten nicht für Inhaber einer Schmelzbewilligung nach Artikel 24.”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), BAZG Richtlinie R-247 (1 Jan 2023) annex matrix Teil 1 (KYC)

  “Identifikation des Kunden gemäss Art. 168a Abs. 2 EMKV für natürliche Personen, für juristische Personen mittels Han-”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), BAZG Richtlinie R-247 (1 Jan 2023) Ziff. 3.3.2

  “Bestehen Zweifel über die Herkunft des Materials oder in Bezug auf die Integrität des Kunden sind Bewilligungsinhaber verpflichtet, den Sachverhalt besonders sorgfältig abzuklären”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), RGG v9 Step 2.1 (origin of mined gold)

  “Mined Gold: The location of the mine (LSM and ASM).”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), RGG v9 Step 2.2 (transit red flag)

  “Is claimed to originate from a country through which gold from CAHRAs is known, or reasonably suspected, to transit”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), RGG v9 Step 1.2 (records)

  “Records are required to be maintained for at least five years, or the minimum timeframe stipulated by local regulatory requirements”

• PMCO/EMKV; LBMA Responsible Gold Guidance; BAZG melter due-diligence directive (sections in refs), BAZG Schmelzen und Prüfen (Dec 2023) Ziff. 4.1.6 (restates Art. 168b Abs. 3)

  “Die Dokumente über den Geschäftsverkehr mit Schmelzgut und Schmelzprodukten müssen während zehn Jahren aufbewahrt werden.”

File the Swiss electronic customs import declaration (formal declaration; simplified or oral declarations excluded for melt material imported for sale), tariff heading 7108.1200 (statistical key 911 for mining gold), with actual origin if known; import VAT-exempt for investment gold (cast bars of at least 995 thousandths fineness bearing the fineness and the stamp of a recognised assayer-melter) and for gold in raw form or semi-finished for refining; unmarked doré may only be imported by a trade assayer (BAZG practice)

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

يتطلب

Air waybill

يُصدر

Electronic customs import declaration (commercial import; simplified and oral declarations excluded for melt material)

The Federal Council report (citing the customs administration) says actual origin must be declared if known, but for large imports, e.g. from the United Kingdom or the UAE, the dispatch country is sometimes entered; [inferred] Dubai-refined Nigerian gold can therefore appear as UAE origin. [unconfirmed] That no certificate of origin is required is not stated in the sources read. No written precious-metals control record found for a passed border check. The rule that unmarked doré may only be imported by a trade assayer is BAZG practice (BAZG letter on unmarked melt products; BAZG directive on applying the EMKG); it is not in the EMKG import article. The EMKV (precious metals control ordinance) is not held on the server, so its provisions on recognised fineness marks and banking precious metals are not relied on here. Corrected earlier: the declaration was described as "Passar"; the BAZG melt-material sheet names e-dec web. [time-limited] When the BAZG-VG enters into force (date not set), the EMKG import-check paragraphs are repealed and replaced by a new BAZG control article (BAZG-VG annex amending the EMKG).

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), MWSTG (SR 641.20, Stand 1 Jan 2025) Art. 23 Abs. 2 Ziff. 12: gold supplies exempt

  “die Umsätze, die mit Gold und Legierungen von Gold der folgenden Form erzielt werden:”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Art. 23 Abs. 2 Ziff. 12 Bst. b: investment gold, cast bars

  “Gold zu Anlagezwecken mit einem Mindestfeingehalt von 995 Tausendsteln, in Form von:”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Art. 23 Abs. 2 Ziff. 12 Bst. b, first indent

  “gegossenen Barren, versehen mit der Angabe des Feingehalts und dem Stempelzeichen eines anerkannten Prüfer-Schmelzers oder”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Art. 23 Abs. 2 Ziff. 12 Bst. d: raw or semi-finished gold for refining

  “Gold in Rohform oder in Form von Halbzeug, das zur Raffination oder Rückgewinnung bestimmt ist”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), MWSTG Art. 53 Abs. 1 Bst. m: import of gold exempt

  “Gold und Legierungen von Gold nach Artikel 23 Absatz 2 Ziffer 12.”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), AS 2024 438 (amendment of 16 June 2023, in force 1 Jan 2025): inserts Art. 53 Abs. 1 Bst. m

  “Gold und Legierungen von Gold nach Artikel 23 Absatz 2 Ziffer 12.”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), MWSTV Art. 44 (former gold provision) repealed

  “Aufgehoben durch Ziff. I der V vom 21. Aug. 2024, mit Wirkung seit 1. Jan. 2025”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), EMKG (SR 941.31) Art. 20 Abs. 3: import checks

  “Die diesem Gesetz unterstellten Waren können bei der Einfuhr einer umfassenden oder stichprobenweisen Kontrolle unterworfen werden.”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG statistics page: tariff heading 7108.1200

  “Data relating to gold in raw form (e.g. bars) are recorded under customs tariff heading 7108.1200”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG statistics page: statistical key 911 (from 1 Jan 2021)

  “mining gold *(key: 911)*”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Federal Council report 14 Nov 2018, s.3.7

  “dass der tatsächliche Ursprung der Waren gemeldet werden muss, sofern er bekannt ist”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Federal Council report s.3.7

  “Bei umfangreichen Einfuhren, zum Beispiel aus Grossbritannien oder den Vereinigten Arabischen Emiraten, wird in der Zollerklärung gelegentlich das Versendungsland angegeben.”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG R-247 (1 Jan 2023) s.3.4.2: unmarked melt products only imported by trade assayers

  “Daher sind ausschliesslich Handelsprüfer berechtigt, nicht gekennzeichnete”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), R-247 s.3.4.2 (doré bars as example)

  “(bspw. Doré-Barren aus dem Bergbau)”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG Merkblatt "Annahme von Schmelzgut aus dem Ausland" (Jan 2024): simplified declarations excluded

  “Vereinfachte Zollanmeldeverfahren wie Quickzoll oder gar eine mündliche Zollanmeldung sind daher grundsätzlich ausgeschlossen.”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: e-dec web

  “dies selbst mittels e-dec web vornehmen”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: prior customs procedure

  “Annahme von Schmelzgut aus dem Ausland sichergestellt wird, dass dieses vorgängig”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: fine per case (under the EMKG)

  “mit bis zu CHF 2 000 pro Fall gebüsst werden”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), Merkblatt: licence withdrawal

  “In schweren Fällen kann die entsprechende Bewilligung”

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG letter of 4 Dec 2019 on import of unmarked melt products (only footnotes are sectioned; cited law-only)

• VAT Act (MWSTG) as amended with effect from 1 Jan 2025; Precious Metals Control Act (EMKG) (sections in refs), BAZG-VG of 20 June 2025, Anhang 2 Ziff. 53 (EMKG Art. 20 Abs. 3-5 repealed, new Art. 22a); annex not sectioned, cited law-only

Optionally store under customs control in a free port (e.g. Geneva La Praille / Aéroport, Embrach - Embraport, Zürich-Flughafen - Cargologic): stored goods are not subject to import customs duties or trade-policy measures and may be stored indefinitely

من

Bonded warehouse / freeport operator (Geneva/Embrach)

يُصدر

Electronic customs declaration on entry of sensitive goods into the free port (content: the inventory-record particulars listed in the Customs Ordinance, letters a to f, plus the depositor's name and address); Electronic inventory record of sensitive goods: previous customs document, entry date, owner, origin country, description, value, marks, gross/net mass, origin proof, location, exit date, etc. (17 fields)

The BAZG free-port list held is the old list in the library (its record dates it to the start of the year it was issued; no newer list found); operators may have changed. [time-limited] The BAZG-VG (adopted, not yet in force) treats free ports as a kind of customs warehouse and will replace these articles when in force. [inferred] Suspension of import VAT is read from the BAZG free-port directive ("auf das Erheben der Abgaben ... verzichtet"); the ZG names only import customs duties and trade-policy measures. Supplies of goods stored in a free port are VAT-exempt under the MWSTG (read). The ZG and ZV are now read in their official fedlex consolidations held on the server.

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG (SR 631.0, Stand 1 Sep 2023) Art. 62 Abs. 1

  “Zollfreilager sind Teile des Zollgebiets oder in diesem gelegene Räumlichkeiten:”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 62 Abs. 3

  “Die eingelagerten Waren unterliegen weder den Einfuhrzollabgaben noch handels- politischen Massnahmen.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 64 Abs. 1

  “Wer ein Zollfreilager betreibt, braucht eine Bewilligung des BAZG.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 65 Abs. 1

  “Waren, die in einem Zollfreilager gelagert werden sollen, sind der zuständigen Zoll- stelle zur Einlagerung anzumelden und in das Zollfreilager zu verbringen.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 65 Abs. 2

  “In Zollfreilagern dürfen Waren beliebig lange gelagert werden.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZG Art. 66 Abs. 1

  “Die Lagerhalterin oder der Lagerhalter muss über alle eingelagerten sensiblen Wa- ren Bestandesaufzeichnungen führen.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV (SR 631.01, Stand 1 Oct 2024) Art. 178a Abs. 1

  “Die anmeldepflichtige Person muss sensible Waren bei der Einlagerung ins Zollfrei- lager elektronisch anmelden.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV Art. 182 Abs. 2

  “Sie oder er muss zudem für sensible Waren eine Bestandesaufzeichnung führen.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV Art. 184 Abs. 2

  “Sie muss elektronisch geführt werden.”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), ZV Anhang 2 Ziff. 5 (sensitive goods; the section id carries footnote 193 glued to the label)

  “Perlen, Diamanten, Edelsteine, Schmucksteine, Edelmetalle und Edel- metallplattierungen sowie Waren daraus (ex Zolltarifkapitel 71)”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), BAZG Richtlinie R-10-50 Ziff. 1.1 (levies not raised)

  “Dabei wird auf das Erheben der Abgaben, auf deren Sicherstellung und auf die Anwendung handelspolitischer Massnahmen”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), MWSTG Art. 23 Abs. 2 Ziff. 3bis

  “die Lieferung von Gegenständen, die wegen Einlagerung in einem Zollfreilager (Art. 62-66 ZG) nachweislich im Inland unter Zollüberwachung standen und diesen Zollstatus nicht rückwirkend verloren haben”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), Embrach

  “Zürcher Freilager AG, GVZ Embraport”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), Genève La Praille and Genève Aéroport

  “Ports Francs et Entrepôts de Genève SA”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), BAZG-VG (20 June 2025, not in force) Art. 64

  “Zolllager sind vom BAZG zugelassene Orte im Zollgebiet”

• Swiss Customs Act (ZG); Customs Ordinance (ZV) (articles in refs), BAZG-VG Art. 65 Abs. 2

  “Als Zolllager können bewilligt werden:”

Screen the bars, buyer and destination against Swiss sanctions before release: no purchase, import, transit or related services (including brokerage and financing) for gold of Russian origin exported after 4 Aug 2022 or gold processed from it in third countries

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

[transcription] Art. 14d paras 1-4 read in an unofficial third-party English translation (as at 22 Mar 2024, held in laws/); Annex 26 covers 7108, 7112 91 and ex 7118 90 gold coins; Annex 27 ex 7113 and ex 7114. [unconfirmed] The official consolidation is now Stand 21 Sep 2026 and was not read (the fetch tool truncates before Art. 14d); changes after March 2024 are not ruled out. The ordinance contains no explicit ban on selling gold to Russia; the export-side effect is through the services ban.

• Ordinance of 4 March 2022 on measures in connection with the situation in Ukraine (SR 946.231.176.72), Art. 14d

Release the bars from the refinery vault or free port against the owner's instruction and prepare the weight list (bar list), commercial invoice and packing list for the shipment

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

يُصدر

Outbound weight list / bar list; Commercial invoice to the foreign buyer; Packing list

The weight list is sourced to LBMA Annex C; commercial invoice and packing list are standard export practice, not read in a Swiss source.

• LBMA Good Delivery Rules, Annex C (weight lists); Customs Act Arts. 62-66 (free ports)

Lodge the electronic export declaration in Passar (HS 7108; e-dec Export was usable only to end-2025); the declarant must make it binding and physically export the goods within 120 days of its acceptance in the IT system

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

يُصدر

Passar export declaration (HS 7108)

R-10-10 (valid 1 Jan 2026) cites Art. 25-29 ZG and Art. 79-83 ZV for the declaration duty, says declarations are electronic in principle, and sets the 120-day limit from acceptance in the IT system. R-10-10 held and read in full on 2026-09-28; the Customs Act and Ordinance texts themselves were not read. R-10-10 has no gold-specific rule.

• Customs Act (ZG, SR 631.0); BAZG R-10-10, ZG Arts. 25-29 (as cited in R-10-10)

Receive the export assessment notice (Veranlagungsverfuegung Ausfuhr), the evidence that the goods were properly cleared for export

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

يُصدر

Veranlagungsverfuegung Ausfuhr

R-10-10 cites Art. 38 and 69 ZG and Art. 92 ZV for the export assessment notice and says it is evidence of proper assessment and of export for VAT. R-10-10 held and read in full on 2026-09-28.

• Customs Act (ZG); BAZG R-10-10, ZG Arts. 38 and 69; ZV Art. 92 (as cited in R-10-10)

Treat the sale as a VAT-exempt export (supply of goods directly transported abroad) and keep the export assessment notice as evidence

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

يتطلب

Veranlagungsverfuegung Ausfuhr

Art. 23(2) no. 1 read in the held MWSTG (Stand 1 Jan 2025, German wording current). Art. 23(3): direct export includes export into an open customs warehouse or a free port. Investment gold of at least 995 fineness is separately exempt with credit under Art. 23(2) no. 12 (see ch.tax-import-vat).

• Federal VAT Act (MWSTG, SR 641.20), Art. 23(2) no. 1

Hand the sealed consignment to a secure valuables carrier and fly it out (Zurich or Geneva) under an air waybill

من

Swiss refiner (melter/trade-assayer licence, LBMA Good Delivery-listed)

يُصدر

Air waybill (outbound)

Carrier practice. Cantonal licensing: in the Canton of Zurich "Sicherheitstransporte von Personen, Gütern und Wertsachen" require a licence under the Polizeigesetz, 9. Abschnitt (cantonal page, read by WebFetch 2026-09-28; PolG text not read). Geneva and other cantons not checked. No Swiss source read describes the outbound air leg for gold.

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

Agree price and terms: loco-London or loco-Hong Kong OTC off the LBMA Gold Price or dealer quotes (the HAU ticker, launched on Bloomberg on 7 July 2026, gives indicative loco-HK bid/offer); or trade on HKGX by open outcry or electronically

من

Registered bullion dealer / trader (DPMS registrant)

يُصدر

Sale and Purchase Agreement (price clause); Price reference (LBMA Gold Price, or HAU ticker quotes for loco Hong Kong); HKGX trade record / transaction code

Before any specified cash transaction (cash of HK$120,000 or more, single or linked) with a customer, a Category B registrant identifies and verifies the customer and beneficial owner, verifies anyone acting for the customer, applies PEP and high-risk measures and keeps records at least 5 years. Only a Category B registrant may carry out such a transaction; cash paid only between two Category B registrants is excluded from CDD

من

Registered bullion dealer / trader (DPMS registrant)

يتطلب

DPMS Category B registration certificate

يُصدر

Customer due diligence file (Category B, specified cash transaction)

• AMLO s. 5A and Sch. 2; C&ED Guideline for Category B registrants, s. 5A(5A)-(5B); s. 53ZUE(2); Sch. 2 ss. 2, 3(1)(b), 10, 15, 20

  “for a period of at least 5 years beginning on the date on which the transaction is completed”

A visiting non-Hong Kong dealer that completes a cash transaction of HK$120,000 or more files a cash transaction report (Form CED418) with C&ED within one day or before leaving, whichever is earlier

من

Non-Hong Kong dealer (visiting)

يُصدر

Cash transaction report by a non-Hong Kong dealer (Form CED418)

• AMLO (Cap. 615) Part 5C, s. 53ZVK; Sch. 3J

Buyer pays by bank transfer (or ledger transfer through central clearing); seller issues the final invoice; title passes by vault transfer or clearing-ledger entry

من

Authorised institution (bank) dealing in bullion

يتطلب

Sale and Purchase Agreement (price clause)

يُصدر

SWIFT MT103 payment confirmation (bank-to-bank, authenticated); Final invoice (against outturn assay); Settlement confirmation / custody account entry; Central clearing ledger entry (unallocated gold balance)

[inferred] Settlement mechanics for bilateral OTC outside central clearing are market practice.

Report any knowledge or suspicion that property is crime proceeds to JFIU through STREAMS 2 (applies to everyone, not only registrants); do not tip off

من

Registered bullion dealer / trader (DPMS registrant)

يُصدر

Suspicious transaction report to JFIU (STREAMS 2)

• OSCO (Cap. 455), DTROP (Cap. 405), UNATMO (Cap. 575), Cap. 455 s. 25A(1), (5), (7); Cap. 405 s. 25A(1); Cap. 575 s. 12(1), (5)

  “Where a person knows or suspects that any property— (a) in whole or in part directly or indirectly represents any person’s proceeds of; (b) was used in connection with; or (c) is intended to be used in connection with, an indictable offence, he shall as soon as it is reasonable for him to do so disclose that knowledge or suspicion … to an authorized officer”

Price the sale against the LBMA Gold Price (commonly in AUD) or a forward/hedge contract

من

Mining tenement holder (mining lease) operating a gold mine and mill

يُصدر

LBMA Gold Price PM (AUD) reference

Commercial pricing practice not documented; the LBMA PM fix is the statutory WA royalty reference.

Transfer metal from the miner's metal account to the buyer, or deliver bars, against payment

من

Australian gold refiner (LBMA Good Delivery-listed)

يُصدر

Payment for gold sold