Have you decided to buy gold? Congratulations, it's a good decision. Investment gold is an ideal way to secure your savings and preserve the purchasing power of your money. It is an investment that is increasingly chosen as a means of protecting capital against inflation, economic crises, and now also against the effects of war.
Although the most important decision has already been made, there are still issues related to owning gold that you need to keep in mind. One example is the desire to transport it across the border—can you do so freely?
The answer is yes – gold can travel with you, but under certain conditions. What are they? They are specified in the Act of July 27, 2002 – Foreign Exchange Law (Journal of Laws No. 141, item 1178, as amended).
Under this law, you are the owner of foreign exchange gold, which, along with foreign exchange platinum and foreign means of payment, is classified as foreign exchange assets.
The legislator indicates that foreign exchange gold is:
- unprocessed gold,
- gold in the form of bars and coins minted after 1850,
- gold in the form of semi-finished products (except those used in dental technology),
- gold items not usually made from this metal.
What do you need to know about exporting foreign currency gold outside Poland?
- If I want to take foreign currency gold out of Poland, do I have to report it somewhere?
It all depends on where you are traveling. If you are staying within the Schengen area, you can freely transport gold without any formalities. However, if you are bringing foreign currency gold from outside the Schengen area or want to take it outside the area, you must report this to the relevant authorities.
- Who should be notified about the transport of foreign currency across the border?
You must report this to the customs authorities or border guard authorities. Please note that these authorities may request to see the foreign currency gold—both exported from the country and imported from abroad—to confirm your declaration.
- In what form should the notification be made?
Notifications of foreign currency transfers across the border must be made in writing. The relevant declaration forms have been specified by the legislator.
- How much foreign exchange gold must be reported?
According to the provisions of the Act, any amount of foreign currency in gold imported into or exported from Poland must be declared (except, of course, within the Schengen area, where we are exempt from the declaration requirement). Unlike in the case of means of payment, there is no specified minimum amount that can be transported outside the Schengen area without any additional obligations.
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