Colombia [RUCOM exporter (C.I.) or authorised exploiter exporting its own production] → South Africa (refine) → United Kingdom → Switzerland · Bank onboarding, title transfer and settlement

Melt aggregated dust or doré into bars at a RUCOM plant/smelter (plants may only beneficiate minerals of authorised exploiters); weigh and assay; when the plant sells, it issues a certificado de origen de planta de beneficio listing the exploiters whose mineral it processed

Who

Beneficiation plant / smelter (planta de beneficio, casa fundidora)

Needs

PTM record of the first-sale transaction

Issues

Bar list / weight and assay of melted bars; Certificado de origen planta de beneficio (ANM format)

Form

Gold dust / nuggets → Smelted button/bar

Melting/assay is industry practice. The PTM "cierre por transformación" applies where the mineral becomes an industrial derivative closing the chain (ANM guide, Dec 2025), so melting into bars for sale is not recorded as a transformation [inferred]; r1 said it was.

• Ley 2250 de 2022 art 13; Decreto 1073 de 2015 art 2.2.5.6.1.1.4

Sell bars to the C.I./exporter with an electronic invoice and the chain of certificados de origen / declaraciones de producción; register the sale in the PTM

Who

Authorised mineral trader (comercializador de minerales autorizado, RUCOM)

Needs

Certificado de origen del explotador minero autorizado; Declaración de producción del minero de subsistencia (certificado de declaración de producción); RUCOM registration / listing

Issues

Electronic sales invoice from titleholder/trader; PTM record of a domestic trade or transformation

• Decreto 1073 de 2015 arts 2.2.5.6.1.1.4 par 5, 2.2.5.6.4.3-2.2.5.6.4.5; Resolución ANM 759 de 2024

As C.I. buyer, withhold 2.5% income tax on the full payment (1% before 1 Jun 2025), issue the withholding certificate and the Certificado al Proveedor for gold bought for export

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

Electronic sales invoice from titleholder/trader

Issues

Certificado de retención en la fuente; Certificado al Proveedor (CP) issued by a C.I. company

• Decreto 1625 de 2016, art 1.2.4.6.9 (as modified by Decreto 572 de 2025)

Report all domestic gold purchases and sales to UIAF every four months, within the first 10 calendar days after the cut-off (or an absence report)

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Issues

UIAF reports of gold buy/sell and import/export operations (Anexos 2 and 3)

• Resolución UIAF 363 de 2008, arts 4-5

Agree a sale contract with the foreign refiner/buyer (price by reference to the London gold price, provisional on assay)

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Issues

Sale contract with the foreign refiner/buyer

No Colombian rule on pricing; general bullion practice.

Prepare the export lot: bar list with weights and fineness; for scrap (chatarra), obtain a certification from an authorised certification/inspection body

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

Electronic sales invoice from titleholder/trader

Issues

Bar list / weight and assay of melted bars; Certification by an authorised certification/inspection body that material is scrap (chatarra); Exporter's electronic invoice to foreign buyer

Form

Smelted button/bar → Doré bar - stamped/exporter-sealed

Confirm royalties on the lot are paid (royalty receipts / certificados de origen of suppliers) or pay them online to the ANM account; gold, silver and platinum without transformation need royalty proof before export

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

Certificado de origen del explotador minero autorizado; Declaración de producción del minero de subsistencia (certificado de declaración de producción)

Issues

Royalty payment receipt (comprobante de pago de regalías)

Decreto 600/4479 quoted by ANM; text not held.

• Ley 2056 de 2020 art 186; Decreto 600 de 1996 art 20 (mod. Decreto 4479 de 2009), Ley 2056 art 186

File the export request to ANM through VUCE with the Excel "Reporte de información en la exportación" (SC-F-002: VUCE number, invoice data, HS subheading, each supplier's CO/declaración number and quantity, royalty liquidation and payments), certificados de origen / declaraciones de producción, traceability support of the commercial chain, sales invoice and royalty receipts; ANM decides within 3 business days in order of arrival (a return gives 3 days to cure, else rejection); the visto bueno is valid 3 months

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

Certificado de origen del explotador minero autorizado; Royalty payment receipt (comprobante de pago de regalías); Exporter's electronic invoice to foreign buyer; RUCOM registration / listing

Issues

Formulario de reporte de exportación (ANM Excel form); ANM export approval (royalty and lawful-origin validation)

[inferred] The export form version of 29 Aug 2025 still asks for the VUCE filing number; no ANM text read says the PTM replaced VUCE after May 2026.

• Ley 2056 de 2020 art 186; Decreto 4149 de 2004 (VUCE)

Close the chain in the PTM with a "cierre por venta final" marked as export (destination country and city, final buyer, codes and quantities copied from the balances e-mail, value); ANM validates the export report format against PTM data

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

ANM export approval (royalty and lawful-origin validation)

Issues

PTM record of the export transaction and closure

• Resolución ANM 759 de 2024, arts 5, 10

File the solicitud de autorización de embarque (SAE) at the DIAN Dirección Seccional where the gold is located, describing the goods so that the royalty value can be established, with RUCOM registration and, for C.I. exporters, the Certificados al Proveedor; request physical inspection in the secondary zone before the SAE is accepted

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

ANM export approval (royalty and lawful-origin validation); Exporter's electronic invoice to foreign buyer; Bar list / weight and assay of melted bars; Certificado al Proveedor (CP) issued by a C.I. company

Issues

Solicitud de autorización de embarque (DIAN)

• Decreto 1165 de 2019 arts 347, 348, 350, 352; Resolución DIAN 46 de 2019 arts 367 (mod. Res. 39/2021 art 132), 374, 375

Inspect physically in the secondary zone (exporter premises with calibrated measuring equipment, or an authorised valuables-transport company) at the latest the next business day; record net and fine weight and quality in the acta de inspección; seal the packages

Who

DIAN (customs and tax)

Needs

Solicitud de autorización de embarque (DIAN)

Issues

DIAN physical inspection / weighing record

• Resolución DIAN 46 de 2019 arts 367, 389, 390

Embark through the same customs jurisdiction; the carrier transmits the manifest (within 24 h) and certifies embarkation; the declarant then presents the declaración de exportación definitiva electronically

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

Solicitud de autorización de embarque (DIAN); DIAN physical inspection / weighing record

Issues

Export declaration accepted by DIAN

• Decreto 1165 de 2019 arts 362, 363; Resolución DIAN 46 de 2019 arts 367 num 5, 398, 400

Carry the gold by air to the foreign refiner under an air waybill

Who

Air carrier / secure logistics provider

Needs

Solicitud de autorización de embarque (DIAN); DIAN physical inspection / weighing record

Issues

Air waybill

Self-withhold 1.0% income tax on gross export proceeds of mineral products (not due where the exporter is a C.I. that already withheld at purchase)

Who

Exporter: Sociedad de Comercialización Internacional (C.I.) or other RUCOM exporter

Needs

Export declaration accepted by DIAN

Issues

Certificado de retención en la fuente

• Decreto 1625 de 2016 as modified by Decreto 242 de 2024, art 1.2.4.10.12 and par. 1

Onboard the foreign depositor: KYC pack, mined-material questionnaire, refining agreement; apply LBMA Responsible Gold Guidance / OECD due diligence

Who

Refining-licence holder (refinery)

Issues

Refiner KYC pack on foreign depositor; KYC questionnaire for mined material; Refining agreement with depositor

Rand Refinery states KYC and conflict-free sourcing policies; its depositor requirements and the RGG text were not read in this pass.

Hold a current SADPMR permit to import unwrought precious metal (Form PMI: quantity, fineness, form, value, period, ports, countries of origin, purpose)

Who

Refining-licence holder (refinery)

Needs

SADPMR refining licence; SAPS police clearance certificate

Issues

SADPMR permit to import precious metals

• Precious Metals Act; Precious Metals Regulations, s.10(1)-(2); regs 21-22

Ship dore by air to Johannesburg with the origin country's export authorisation, export declaration and assay

Who

Foreign mine or exporter depositing doré

Needs

Origin country's export authorisation for the gold (permit, licence or clearance issued by the mining or trade authority); Export customs declaration accepted by the dispatching country's customs; Assay certificate (fineness and fine weight); Air waybill

Issues

Air waybill, origin to Johannesburg (OR Tambo)

[unconfirmed] PMA s.10(2)(b) requires the importer to declare and prove the origin of the metal in the permit application, and s.10(4) says the permit states the origin; which origin-country documents must accompany each shipment is not stated in any text read. The listed hand-off kinds are the model's route logic.

Enter the doré for customs with SARS on a bill of entry for import (the metal must be duly entered for customs under reg 21(4)(b)); entry may be refused if the Regulator considers it of dubious origin or incorrectly declared (reg 21(5))

Who

Refining-licence holder (refinery)

Needs

SADPMR permit to import precious metals; Air waybill, origin to Johannesburg (OR Tambo)

Issues

SARS import declaration for dore

[not-read] Customs and Excise Act procedure, tariff heading 7108 and import VAT on doré not read (Act not held). Manual C(G): gold import applications are referred to SADPMR.

• Precious Metals Regulations; Customs and Excise Act 1964, reg 21(4)(b), 21(5)

  “A precious metal may be refused entry into the South Africa if - (a) that precious metal is in the opinion of the Regulator of dubious origin; or (b) that precious metal has been incorrectly described or declared.”

Carry the dore from the airport to the refinery with the reg 26 waybill; SADPMR or SAPS may inspect imported metal

Who

Secure carrier of precious metal

Issues

Waybill, port of entry to refinery

• Precious Metals Act, s.10(3), s.13; reg 26

Submit specimens of the imported metal to the SAPS Forensic Science Laboratory

Who

Refining-licence holder (refinery)

Issues

Specimen submission (importer)

• Precious Metals Act, s.22(1)

  “Any producer or any person who imports precious metal must submit to the Forensic Science Laboratory of the South African Police Service such specimens of any precious metals produced or imported by him or her as may be prescribed.”

Weigh, melt, sample and assay each lot on receipt; issue outturn (final assay and fine weight) to the depositor

Who

Refining-licence holder (refinery)

Needs

Refining agreement with depositor

Issues

Refiner outturn / assay report

Refine at the licensed premises and cast 400 oz Good Delivery bars, kilobars (995-999.9), minted bars (10/50/100 g, 999.9) or grain

Who

Refining-licence holder (refinery)

Issues

Refiner bar list for bars produced

Form

Doré bar - unstamped → LBMA Good Delivery 400oz bar

• Precious Metals Act; Precious Metals Regulations, s.7(1), 7(5); reg 28 (minted bars)

Record receipts and outputs in the PMR2 register within 24 hours

Who

Refining-licence holder (refinery)

Issues

PMR2 refinery register entry / quarterly copy

• Precious Metals Act, s.15(1); reg 33

Publish annual responsible-gold / LBMA compliance report

Who

Refining-licence holder (refinery)

Issues

Refiner responsible gold / LBMA compliance report

Credit fine gold to the depositor's metal account and hold the bars in the refinery vault pending sale or export

Who

Refining-licence holder (refinery)

Needs

Refiner outturn / assay report; Refiner bar list for bars produced

Issues

Metal account credit / settlement confirmation

Rand Refinery lists vault and logistics services; account terms not seen.

Obtain Treasury permission and, for any unwrought or semi-fabricated output, SADPMR export approval; file the customs export declaration for the refined bars

Who

Refining-licence holder (refinery)

Needs

Refiner bar list for bars produced; SADPMR export approval for gold (PMA s.12); National Treasury approval to export gold (Exchange Control Reg 3; PMA s.12(1))

Issues

SARS customs declaration / bill of entry for export

[unconfirmed] No SADPMR or SARB text specific to re-export of refined foreign-origin gold was found; Reg 3, Manual C(B) and PMA s.12 are applied as written.

• Exchange Control Regulations; Precious Metals Act, Reg 3; s.12(1)

Ship the bars to the depositor's buyer or vault abroad

Who

Secure carrier of precious metal

Issues

Waybill, refinery/exporter to port of export; Air waybill, Johannesburg to destination

• Precious Metals Act, s.13; reg 26

Apply customer due diligence to the foreign seller before buying (identity, beneficial owner, purpose, risk assessment, sanctions/PEP screening)

Who

Bullion dealer / trader (importer of record, usually an LBMA member)

Issues

Supplier KYC pack received by the UK buyer; MLR customer due diligence file

[unconfirmed] Whether a non-bank wholesale bullion trader paid by wire is within the MLR at all (e.g. as a financial institution under reg 10) - consolidated MLR not held. [not-read] Reg 27 quoted via WebFetch; MLR not held.

• Money Laundering Regulations 2017, reg 27

Establish that the gold is not Russian-origin gold exported from Russia on or after 21 Jul 2022, not relevant processed gold incorporating such gold, and not Russian gold jewellery exported on or after 29 Oct 2022; check where the goods were originally consigned or exported from; if Russian origin is possible, apply to DBT's Import Sanctions Team for a licence or contact it; declare document code 9022 (not subject to / exempt from sanctions) or 9011 (licence) on CDS and keep the evidence to produce on demand

Who

Bullion dealer / trader (importer of record, usually an LBMA member)

Needs

Export customs declaration accepted by the dispatching country's customs

Issues

Importer's Russia-sanctions origin evidence file

[inferred] The guidance and tariff do not list specific evidence documents; the required kinds are this module's inference.

• Russia (Sanctions) (EU Exit) Regulations 2019 as amended by SI 2022/850 and SI 2022/1110, regs 46Z11, 46Z16B, 46Z16C

Fly the bars into the UK as valuable cargo (typically Heathrow) under an air waybill

Who

Secure valuables carrier

Issues

Air waybill, inbound valuables consignment

UK valuables-cargo handling not researched in this pass.

Submit a full import declaration on CDS (procedure code, commodity code 7108 12 00 00 for unwrought gold, DUCR, consignor/consignee, value, licences; EORI); declare sanctions document code 9022 or 9011; claim the investment-gold VAT exemption with additional code VATE where the bars are 995+ of a weight accepted by the bullion markets

Who

Customs agent / declarant using CDS software

Needs

EORI number of importer/exporter; Importer's Russia-sanctions origin evidence file; Air waybill, inbound valuables consignment; Air waybill; Commercial invoice; Bar list (serials, weights, fineness)

Issues

CDS full import declaration

[conflict] gb.div-cpc-chief - VAT Notice 701/21 s.8.1 still gives CHIEF CPC 40 00 073; the tariff (28 Sep 2026) shows the exemption as additional code VATE. [not-read] The CDS procedure code and DE 1/10-1/11 entries for investment gold not read (UK Trade Tariff Vol. 3 listed in gb-fetch.tsv).

Account for import VAT: exempt for investment gold (additional code VATE); 20% standard rate (code 03020) on non-investment gold (dore, grain, scrap, sub-995 bars, non-qualifying coins); customs duty 0.00% (third-country rate on 7108 12, S.I. 2020/1430)

Who

Bullion dealer / trader (importer of record, usually an LBMA member)

Needs

CDS full import declaration

• VAT Act 1994 Sch 9 Group 15; VAT Notice 701/21, Notice s8.1, s10.7

Clear the goods (CDS message when cleared), or ask for supporting documents for a customs check; for 7108 the Russia/Belarus measures read "Import allowed after control"; HMRC enforces trade sanctions at the border

Who

HMRC (customs and VAT authority)

Needs

CDS full import declaration

Issues

CDS clearance notification (goods released)

Give the custodian written notice of the deposit (amount, Availability Date, and the carrier and packing for physical delivery, or the source account for book-entry); advise the vault manager of the vehicle registration and driver's identity

Who

Bullion dealer / trader (importer of record, usually an LBMA member)

Needs

CDS clearance notification (goods released)

Issues

Deposit notice to London custodian

• LPMCL Allocated Account Agreement; LBMA Good Delivery Rules, Allocated cl. 3.3 (Unallocated cl. 3.2); GD Rules Annex B s.2

Weigh the bars under the London weighing procedures (the receiving party may charge for weighing if not weighed by an Approved Weigher) and produce the machine-readable, dated weight list stating whether an Approved Weigher weighed the metal; a copy travels with the bars

Who

LBMA Approved Weigher

Issues

Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)

• LBMA Good Delivery Rules, Annex B

Receive bars on pallets; before crediting, verify compliance with the Rules and weigh them per LBMA practice against the notified amount; the vault manager may refuse bars not meeting Good Delivery standards and may ask LBMA to appoint independent inspectors

Who

London commercial vault / custodian (typically a clearing or custodian bank)

Needs

Deposit notice to London custodian; Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)

• LPMCL Allocated/Unallocated Account Agreements; LBMA Good Delivery Rules, Allocated cl. 3.1(b), 3.4, 3.5; Unallocated cl. 3.1(b), 3.3, 3.4; GD Rules 2.4 and Annex B

For bars of the six suspended Russian refiners: accept only bars produced while the refiner was listed and already in the loco London/Swiss markets before 7 Mar 2022; clearing banks attest conformity

Who

London commercial vault / custodian (typically a clearing or custodian bank)

Needs

Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)

Separately, UK law bans import of Russian gold exported from Russia on or after 21 Jul 2022. [unconfirmed] GD Rules 2026 s.1.4 says bars of a refiner moved to the Former List for sanctions reasons may lose Good Delivery status; LBMA's specific Russian-bars page keeps pre-7 Mar 2022 loco London/Swiss stocks as Good Delivery - the model follows the specific page.

• LBMA Good Delivery List suspension notice (7 Mar 2022)

Credit the client: an allocated account (specific bars, title stays with client, weight list issued) or an unallocated account (a metal debt claim on the custodian); statements at least annually

Who

London commercial vault / custodian (typically a clearing or custodian bank)

Needs

Machine-readable LBMA weight list accompanying the delivery (dated, approved-weigher status)

Issues

Allocated weight list (bar number, gross weight, fineness, fine weight, brand) or unallocated balance statement

• LPMCL Account Agreements, Allocated cl. 2.3, 7.3 and Schedule (bar numbers, purity, gross and fine weight, brand); Unallocated cl. 1.1, 2.3, 3.3

Central-bank channel: hold Good Delivery bars in an allocated account at the Bank of England (off the Bank's balance sheet)

Who

Bank of England (gold custodian)

Form

LBMA Good Delivery 400oz bar → Monetary gold (central bank reserve)

Monetary state applies when held as reserves by a monetary authority.

Report month-end holdings to LBMA (London vault data) and, from Dec 2026, aggregated vault data into the Gold Bar Integrity database (bar-level reporting planned from 2027)

Who

London commercial vault / custodian (typically a clearing or custodian bank)

Issues

Custodian holdings return to LBMA (London vault data / GBI)

Instruct withdrawal in writing: for allocated metal, bar serials (or the bank selects), amount and Withdrawal Date, received by the time in the agreement ("[2pm]" London time in the LPMCL template); unallocated metal is first allocated or delivered from bars the bank selects

Who

Bullion dealer / trader (importer of record, usually an LBMA member)

Needs

Allocated weight list (bar number, gross weight, fineness, fine weight, brand) or unallocated balance statement

Issues

Withdrawal / collection instruction to London custodian

• LPMCL Account Agreements, Allocated cl. 4.1, 4.2, 4.4; Unallocated cl. 3.5, 4.1, 4.2

Screen the buyer, its owners and the destination against the UK Sanctions List (asset freeze: no funds or economic resources to designated persons); no financial services for the gold or reserves of the Central Bank of Russia, National Wealth Fund or Ministry of Finance; for Russia or Belarus destinations, the tariff attaches export restrictions to 7108 12 (declare 9011 licence or 9022; C052/Y999 for the Russia export-control measure)

Who

Bullion dealer / trader (importer of record, usually an LBMA member)

Needs

MLR customer due diligence file

[not-read] The tariff's "Restriction on export for Russia" on 7108 12 cites SI 2022/452 (the No. 8 amending Regulations) - not held, so which prohibition it implements for unwrought gold is not confirmed. The guidance's export list names no gold-specific export prohibition. The r1 claim of a ban on "making gold available to or for use in Russia" is withdrawn (the guidance does not list gold among the making-available prohibitions).

• Russia (Sanctions) (EU Exit) Regulations 2019; Republic of Belarus (Sanctions) (EU Exit) Regulations 2019

Release the bars to the carrier against the withdrawal instruction with a bar list; client bears cost and risk from collection

Who

London commercial vault / custodian (typically a clearing or custodian bank)

Needs

Withdrawal / collection instruction to London custodian

Issues

Bar list for bars leaving the London vault

• LPMCL Allocated Account Agreement, cl. 4.4

Submit a full export declaration on CDS before the goods leave (30 minutes before for air); no gold-specific export licence identified outside sanctions cases

Who

Customs agent / declarant using CDS software

Needs

EORI number of importer/exporter; Bar list for bars leaving the London vault

Issues

CDS full export declaration; Commercial invoice for the re-export

The tariff (28 Sep 2026) shows UK export measures on 7108 12 only for Belarus, North Korea and Russia destinations and a supplementary unit (gram); no general export licence measure. 7108 13 page not held.

Fly the bars out under an air waybill; departure message confirms exit

Who

Secure valuables carrier

Needs

CDS full export declaration

Issues

Air waybill, outbound; CDS departure message (exit confirmation)

AWB practice not sourced.

Treat exported investment gold as outside the scope of UK VAT (input tax recoverable); hold export evidence (departure message or commercial evidence per VAT Notice 703)

Who

Bullion dealer / trader (importer of record, usually an LBMA member)

Needs

CDS departure message (exit confirmation)

Without a departure message, commercial evidence under VAT Notice 703 s.7 may be used (export guidance); Notice 703 not held.

• VAT Notice 701/21, s8.2

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

Who

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

Needs

Air waybill

Issues

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)

Who

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

Needs

Air waybill

Issues

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

Who

Bonded warehouse / freeport operator (Geneva/Embrach)

Issues

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:”

Identify contracting party and beneficial owner; assess source of wealth/funds for the specific bullion; sanctions/PEP screening

Who

Swiss bank (bullion buyer)

Issues

Bank KYC file (CDB 20): name, date of birth, nationality, domicile and ID for natural persons; company name, registered office and proof for entities; Form A - declaration of the beneficial owner of the assets; Form K - controlling persons with 25%+ of an operating entity (CDB 20 Art. 20-21)

Downgraded 2026-09-28 from primary-law: the provisions cited are CDB 20 (a self-regulatory agreement of the SBA, held and read for Arts. 4, 7, 20-21, 27-28); the AMLA itself was not read for this step. The SBA says the revised CDB will not be available until 1 Jan 2027 at the earliest. [unconfirmed] Source-of-wealth assessment and sanctions/PEP screening were not found in the CDB 20 text read. [time-limited] The GwG consolidation of 1 Oct 2026 amends the AMLA widely; effects not assessed.

• AMLA; SBA Agreement on due diligence (CDB 20), CDB 20 Art. 4 (identification; precious-metals trading and cash transactions over CHF 15,000 are separate cases), Art. 7 (data recorded), Art. 20-21 (controlling persons 25%+, Form K), Art. 27-28 (beneficial owner, Form A)

Seller presents bar list, refiner's assay certificate, chain-of-custody documentation, commercial invoice, proof of title

Who

Swiss bank (bullion buyer)

Needs

Bar list (serials, weights, fineness); Refiner outturn/assay report (Switzerland); Bank KYC file (CDB 20): name, date of birth, nationality, domicile and ID for natural persons; company name, registered office and proof for entities

Issues

Commercial invoice from the seller to the bank (VAT law requires one only if the buyer asks for it: MWSTG Art. 26(1); contents Art. 26(2); the sale of investment gold is VAT-exempt: Art. 23(2) Ziff. 12)

A bar not from an LBMA Good-Delivery-listed refiner generally cannot be sold to a major bank without re-refining - this is market practice, not itself a statute Commercial invoice and delivery receipt are practice (no primary source); "proof of title" for allocated bars is the weight list plus the custody contract - no statutory title document found.

Verify bars against the bank's accepted-refiner list / Good Delivery List; settle loco Zurich or loco London, allocated or unallocated

Who

Swiss bank (bullion buyer)

Needs

Bar list (serials, weights, fineness)

Issues

Settlement confirmation / custody account entry; Allocated account weight list (specific bars = ownership) or unallocated account statement (contractual claim only)

Record the transaction and the clarifications made; retain the records for at least ten years after the end of the business relationship or completion of the transaction

Who

Swiss bank (bullion buyer)

Needs

Settlement confirmation / custody account entry

The official fedlex consolidation of the GwG is now held on the server and the article was read there; this replaces the earlier reading on droit-bilingue.ch and fedlex by WebFetch. The ten-year retention is written in words in the law (zehn Jahren), so it is kept in words here and not as an amount: the verifier reads number words in English only.

• Anti-Money Laundering Act (AMLA/GwG) (articles in refs), GwG Art. 7 Abs. 1 (records of transactions and clarifications)

  “Der Finanzintermediär muss über die getätigten Transaktionen und über die nach diesem Gesetz erforderlichen Abklärungen Belege so erstellen, dass fachkundige Dritte sich ein zuverlässiges Urteil über die Transaktionen und Geschäftsbeziehungen sowie über die Einhaltung der Bestimmungen dieses Gesetzes bilden können.”

• Anti-Money Laundering Act (AMLA/GwG) (articles in refs), Art. 7 Abs. 3 (kept at least ten years)

  “Nach Beendigung der Geschäftsbeziehung oder nach Abschluss der Transaktion be- wahrt er die Belege mindestens während zehn Jahren auf.”

• Anti-Money Laundering Act (AMLA/GwG) (articles in refs), Art. 2 Abs. 2 Bst. a (banks are financial intermediaries)

  “Finanzintermediäre sind: a.10 die Banken nach Artikel 1a des Bankengesetzes”

Pay the exporter against final assay by SWIFT transfer to a Colombian FX market intermediary

Who

Foreign refiner or bullion buyer

Issues

Payment from foreign buyer

Channel the export proceeds through the FX market within six months of receipt (FX intermediary or registered compensation account), transmitting the declaración de cambio data; net repatriation allowed for export costs paid directly abroad

Who

Foreign-exchange market intermediary (bank)

Issues

Foreign-exchange channelling record (declaración de cambio / numeral cambiario)

• Resolución Externa 1 de 2018 (Banco de la República), arts 41, 74, 78, 88