What is a customs free warehouse and where is it located?
A customs free warehouse is a transit storage facility for goods. Originally, goods are temporarily stored there. However, for many years it has also been possible to trade precious metals via a customs free warehouse.
For tax purposes, a customs free warehouse is located in a non-EU country.
What fees and costs apply for storage?
| Stored value Silver |
Storage fee per year |
| CHF 50,000 – 1,000,000 |
1.50% |
| CHF 1,000,000 – 5,000,000 |
1.00% |
| Above CHF 5,000,000 |
On request |
Is there a minimum value for storage?
Yes, the minimum value for storage is CHF 50,000.
Why are silver, platinum and palladium exempt from VAT when purchased into a customs free warehouse?
Normally, silver is not exempt from VAT in Switzerland. Precious metals such as silver, platinum and palladium are generally subject to VAT.
However, when purchasing silver, platinum and palladium into a customs free warehouse, they can be offered completely legally without VAT. This is because a customs free warehouse is considered to be outside the Swiss domestic market for tax purposes.
Which products are exempt from VAT when purchased into a customs free warehouse?
In addition to 1 kg, 5 kg and 15 kg silver bars, 100 g platinum bars and palladium bars as well as 1 oz silver coins (Maple Leaf, Britannia and Krugerrand) are also available VAT-free via the customs free warehouse.
Can I also add gold to the customs free warehouse?
Currently, only white metals – namely silver, platinum and palladium – are available via the customs free warehouse.
Gold is not subject to VAT and can therefore be purchased directly without any concerns.
What happens if I request delivery of the products?
Delivery is possible at any time by prior appointment. At the time of delivery, the applicable VAT amount is calculated and invoiced.
Is storage covered by deposit protection? What happens if Degussa faces financial difficulties?
The precious metals stored in the customs free warehouse remain your personal property.
Unlike bank deposits, precious metals are tangible assets rather than claims, meaning there is no risk of default.
No insolvency protection is required. You can dispose of your stored holdings at any time in your own right.
Even in the event of insolvency, your stored assets may not and cannot be used to satisfy Degussa’s liabilities.
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