taking gold into Singapore

[RexS9999]

I assume bringing over $10 k usd in gold has to be reported when entering Singapore. Is it straight forward? If leaving Canada with over that amount in gold is one required to declare it? I think just when entering the country not leaving. Anyone done this?

 

[legrant]

I've just taken a small look at some websites so please be aware my answer could be wrong, but it seems you need to declare it in Canada if it exceeds $10k, doesn't matter if it's in or out of the country. And in Singapore they don't seem to care about how much gold you have, but if they ask you'll probably have to explain to them why do you have that amount of gold.

 

[Golden Fleece]

I assume bringing over $10 k usd in gold has to be reported when entering Singapore. Is it straight forward? If leaving Canada with over that amount in gold is one required to declare it? I think just when entering the country not leaving. Anyone done this?

As a general rule, it is usually the opposite. Nations want to know when large sums of cash (or cash equivalents) are leaving the country. Incoming cash . . . not as much, but there are exceptions.

The same with nations that have currency controls. It might be easy getting cash into a country without reporting it, but if you do not abide by the reporting rules you will have trouble getting it back out.

 

[uplana]

You want to declare it when you come to Singapore, that would be fine. If you are in doubt then I would ask the local tax office or in the Airport in Canada before you leave the country.

 

[daxbr]

Nothing to declare if you store it at the airport LE FREEPORT

 

[Golden Fleece]

Nothing to declare if you store it at the airport LE FREEPORT

That is true. Another option is to simply sell your Canadian gold and then buy gold from at a trusted gold dealer in Singapore (there are many) and then store it at the freeport. An even better option, if you have the extra cash, is to temporarily hold onto your gold in Canada until after you by gold in Singapore, so you can try to time your sale to avoid any loss that might otherwise occur between the sale and the purchase.

 

[369]

Nothing to declare if you store it at the airport LE FREEPORT

still need to declare in canada

 

[Golden Fleece]

still need to declare in canada

You need to declare everything in Canada ... transport of gold ... vaccination status ... gun ownership ... whether you are simply resting at a picnic table in a park or drinking coffee and lingering ...