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Keyboard Kommando
Joined: 03 Dec 2012
Posts: 38
Location: Saudi Arabia
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 Posted: Mon May 27, 2013 5:11 am Post subject: Taking Precious Metals Out Of Saudi |
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I've been buying PM's in the form of bars and coins for a while, and may have to leave soon due to visa issues. I've been told that there is a limit on how much you can take out of the country. I'm not sure of the limit, but I have been told the most you can take out is 30,000 Riyals. Supposedly, there is a sign at the airport to this effect. Not sure, haven't been there lately.
I have more than that and would like to take everything with me. I don't plan on hiding anything and trying to smuggle them. I just want to take what I've bought legally with no problems as I definitely plan on declaring them across borders. Is there a limit to how much you can take out? Will I be hassled at the airport if I am carrying them? If there is a limit, is there a to send them out in a certified manner so insurance can cover their value? (I'm thinking along the lines of FedEx or similar service here.)
Any info along these lines would be appreciated so I can make plans to transport/dispose of my stash! |
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nomad soul
Joined: 31 Jan 2010
Posts: 11454
Location: The real world
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| Posted: Mon May 27, 2013 5:40 am Post subject: |
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| Did you try an Internet search on saudi customs precious metals? Brings up the links to the Saudi customs department and more (in English). |
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1Sapphire1
Joined: 17 Aug 2009
Posts: 42
Location: Saudi Arabia
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| Posted: Mon May 27, 2013 5:50 am Post subject: |
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It says here: http://saudi-arabia.visahq.com/customs/
that you must declare PM if you have 60,000 SR or more. You probably can't mail PM. DHL and UPS etc probably have their own restrictions about this. I have gold and silver but not more than $10,000 worth. I have had problems in the past. Ukraine for example only allows 3.5 ounces of any PM including silver and all amounts (except jewelry) must be declared or are subject to seizure. |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Mon May 27, 2013 7:07 am Post subject: |
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There is no restriction - you must declare it. Signs before every exit point. The same applies to foreign currency, bearer bonds etc. NO RESTRICTION BUT YOU MUST DECLARE IT.
Moves against money laundering and the financing of illegal activities. |
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Wilsonthefarmer
Joined: 13 Nov 2012
Posts: 152
Location: Riding my black horse
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| Posted: Mon May 27, 2013 9:07 am Post subject: Re: Taking Precious Metals Out Of Saudi |
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| Keyboard Kommando wrote: |
I've been buying PM's in the form of bars and coins for a while, and may have to leave soon due to visa issues. I've been told that there is a limit on how much you can take out of the country. I'm not sure of the limit, but I have been told the most you can take out is 30,000 Riyals. Supposedly, there is a sign at the airport to this effect. Not sure, haven't been there lately.
I have more than that and would like to take everything with me. I don't plan on hiding anything and trying to smuggle them. I just want to take what I've bought legally with no problems as I definitely plan on declaring them across borders. Is there a limit to how much you can take out? Will I be hassled at the airport if I am carrying them? If there is a limit, is there a to send them out in a certified manner so insurance can cover their value? (I'm thinking along the lines of FedEx or similar service here.)
Any info along these lines would be appreciated so I can make plans to transport/dispose of my stash! |
I hope you have kept all your receipts for your PM's in case you need them in the airport, or in case Mr Bandar the customer officer is not convinced about the source of your money or the PMs!
Here is the law from the saudi Ministry of Finance regarding the money declaration:
Declaration of Cash Amounts, Bearer Negotiable Instruments And Precious Metals:
"The Saudi Customs welcomes you and reminds every passenger or responsible family member upon arrival or departure that whoever carries cash amounts, bearer negotiable instruments or precious metals exceeding SR60,000 or the equivalent in foreign currency, must declare them to the customs officer and fill out the declaration form. Failure to make declaration will subject them to confiscation, and the bearer will be liable to legal penalties "
http://www.customs.gov.sa/CustomsNew/advices/Travadv_E.aspx |
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Keyboard Kommando
Joined: 03 Dec 2012
Posts: 38
Location: Saudi Arabia
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| Posted: Mon May 27, 2013 4:19 pm Post subject: |
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| Thanks for the info. I did do a search, but the WiFi where I live sucks and kept timing out. |
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