All What you Need To Know About Egypt’s Restrictions on Taking Gold Bars, Coins Abroad

As gold prices wobbled during the past time and the prices saw a fluctuation in the market amid the uncertainty cast by an expected rise in the US dollar price, the Egyptian market witnessed heavy interest among those who are working abroad to buy gold bars as safe haven for investment.

Many of them like to back home with the gold items, and one of the most common questions they ask is this: how much gold can they travel with?

The answer varies, depending on their destination and the country you come from, so they’ve put together this simple guide to help explain the different aspects of what to consider when planning to take gold abroad.

Here are some restrictions on taking gold bars and coins abroad, but you are relatively clear to take your item(s) with you to your home.

Some countries do require gold to be declared, however, for the sake of customs duties or other security measures. This is usually when the gold in question is of high value, but some countries – such as the UAE and Egypt – require full transparency. So, you have to adhere to their customs rules.

As an example, if you are taking gold jewelry from UAE into Egypt over the 150gm (The standard given the weight restrictions) then you will be asked to complete a declaration form and will be asked about the gold bills.

But, if you are a tourist and your gold is a personal belonging, and within the Egypt regulations, then there should be no issues with bringing it into the country, according to Egypt's Customs Authority.

Speaking to Sada Elbald -English, former head of the Authority for Jewelry Stamping and Scales Medhat bayrakdar said earlier, " The gold bars, coins, and other precious items should be declared to the customs authority," adding that some believe that the quantity should not exceed 320 grams.

Contributed by Ahmed Emam