Flying with Gold … What's the permitted amount for travelers?

Flying with Gold … What's the permitted amount for travelers

SeeNews answers a frequently asked question about the amount of gold allowed for personal use when traveling and how much is the customs duty on it?

George Michel, head of the gold traders Syndicate said that the customs authority allows traveling with a maximum amount of 320 grams of gold jewelry of any caliber, whether inlaid with precious stones, diamonds, or any other other types, otherwise it will be seized and confiscated under the Customs Act.

Michel added that the customs authority can seize smuggled gold and refer it to the Association of Assay Offices and equivalents for examination, evaluation and preparation of the technical report.

The smuggled metal will return again to the customs authority to conclude a reconciliation with the smugglers, including the value of reconciliation, after 6 months, to release the gold or approve a criminal penalty.

Finally, the gold seizures will be referred, after the approval of the Ministry of Justice and the Customs Authority, to the Assay Offices to organize an annual public auction to sell them, and transfer the sale amount to the state treasury.