Many investors ask, is gold tax free in Switzerland? Thanks to clear Swiss gold tax rules, the answer is often yes. Switzerland’s simple policies make it one of the best places to buy, sell, and store physical gold without heavy taxes.
Is Gold Tax Free in Switzerland? Swiss Gold Tax Rules Explained
When we look at gold taxation in Switzerland, the basics are straightforward. Investment-grade bullion bars and well-known coins are VAT-exempt. Private people also pay no capital gains tax on profits. However, residents may still pay a small wealth tax. In short, Switzerland gives gold owners a clear and friendly tax setup.
Gold VAT in Switzerland: What Qualifies as Tax-Free Gold
Under Article 44 of the Swiss VAT Ordinance, investment gold is exempt from VAT. Moreover, the rules are easy to follow, which helps buyers and sellers stay on the same page.
- Gold bars must have a minimum purity of 995 / 1,000.
- Official coins must be legal tender and priced close to metal value.
- Jewelry and collectibles are not VAT-exempt and face the standard 8.1% rate.
Therefore, most bullion sold in Switzerland — including PAMP, Valcambi, and Credit Suisse bars — meets the tax-free standard. As a result, buyers avoid a major extra cost that many other countries still charge.
Capital Gains on Gold: Is Gold Tax Free in Switzerland When You Sell?
Another highlight of Swiss gold tax rules is that private sellers pay no capital gains tax on profits. In other words, if the gold price rises, the gain is yours.
However, if the Federal Tax Administration views your activity like a business — for example, very frequent trades or use of leverage — profits may count as income. Even so, most casual investors do not meet that test.
Wealth Tax on Gold Holdings in Switzerland
Even though VAT and capital gains are friendly, Swiss residents must still count gold in their wealth tax base. Gold is added to your total net worth and valued at market prices. Fortunately, rates are modest and vary by canton.
- Each canton sets its own thresholds and rates.
- Gold is usually valued at year-end spot prices.
- Non-residents who store gold in Switzerland are generally not subject to local wealth tax.
As a result, Switzerland balances tax efficiency with clarity. Moreover, the process is simple to report each year.
Import and Customs: Gold Taxation in Switzerland for Incoming Bullion
When importing gold, the same purity rules apply. Investment-grade gold (995/1,000 or higher) is exempt from import VAT. However, lower-purity, jewelry, or collectible pieces may face normal import VAT or duty. Consequently, always confirm the exact specs before shipping.
Summary Table: Gold Taxation in Switzerland
| Tax Type | Treatment for Investment Gold | Key Conditions / Exceptions |
|---|---|---|
| VAT | Exempt | Bars ≥995 fineness; legal-tender coins near intrinsic value |
| Capital Gains / Income | Tax-free for private people | Possible income tax for professional traders |
| Wealth Tax | Applies to Swiss residents | Canton-specific rates and thresholds |
| Import / Customs | Exempt for investment-grade gold | Collectible or jewelry items may be taxed |
Why Switzerland Is a Safe Choice for Gold Storage
Switzerland’s mix of low taxes, strong banks, and steady politics makes it a safe place to hold metal. Moreover, its vault system is world-class. In addition, allocated storage keeps your bars in your name, not on a balance sheet.
Looking for a secure, tax-efficient vault in Switzerland?
Explore allocated storage options with our SWP guide:
SWP Strategic Wealth Preservation.
Final Thoughts: Is Gold Tax Free in Switzerland for Most Investors?
So, is gold tax free in Switzerland? For most people, yes. VAT exemptions, zero capital gains tax, and fair wealth tax rules make Switzerland very friendly to gold owners. Therefore, before you buy, sell, or import, please confirm your personal situation with a licensed Swiss tax advisor. In short, a quick check now can save time and money later.
Do you pay VAT on gold in Switzerland?
No. Investment-grade bullion bars and coins are VAT-exempt under Article 44 of the Swiss VAT Ordinance. Moreover, most well-known bars and coins meet this rule.
Is there capital gains tax on gold in Switzerland?
Private people do not pay capital gains tax when selling gold at a profit. However, professional traders may pay income tax on profits.
Does Switzerland apply a wealth tax on gold?
Yes. Gold is included in the net worth of Swiss residents for wealth tax. The rate depends on your canton. In addition, thresholds and brackets may change over time.