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BizMatters
BizMatters, Lawyer
Category: Immigration Law
Satisfied Customers: 1132
Experience:  JD -NYS Bar
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I want to ship gold from ghana what do I need to do

Customer Question

I want to ship gold from ghana what do I need to do?
Submitted: 5 years ago.
Category: Immigration Law
Expert:  BizMatters replied 5 years ago.

DearCustomer

 

Is this your own personal gold, or as an exporter business man?

Customer: replied 5 years ago.

It is an inheritance, yes it is personal gold

Expert:  BizMatters replied 5 years ago.
Customer

 

Thank you for the information.

 

It is important to get the facts straight in order to give you the correct answer in this situation.

 

The U.S. has strict laws on U.S. Citizen and resident ownership of certain forms of gold in their possession.

 

I need KNow:

 

1. HOw much gold in weight?

 

2. What is its value?

 

3. What form is it in? ingots, jewelry, kugarands, etc?

 

4. are you a u.s. citizen or legal permanet resident of the U.S.

Customer: replied 5 years ago.
1000 kilo's, unsure of value, in the form of ingots, I a US citizen
Expert:  BizMatters replied 5 years ago.

Dear Srick,

 

The general rule regarding the shipment of this bullion is:

 

Gold coins, medals and bullion, formerly prohibited, may be brought into the United States. However, under regulations administered by the Office of Foreign Assets Control, such items originating in or brought from Cuba, Iran, Burma (Myanmar) and most of Sudan are prohibited entry. Copies of gold coins are prohibited if not properly marked by country of issuance.

 

 

Based on the information you have provided, if the form is correct by legal defination, there is no duty on this gold bullion. However it must be declared. The classification is unwroguth non-monetary bullion.

 

See chapter 71 at this link: http://www.usitc.gov/tata/hts/bychapter/index.htm

 

There is no license required to bring your personal gold assets into the U.S. BUt any valued at 10,000 or more must be reported on a special customes form at the time of entry. You must decalre the bullion to the customs officer when you enter.

 

Be sure to be able to prove ownership of the bullion.

 

 

Customer: replied 5 years ago.
Do I need a license to bring it from Ghana, It has to be flown from Ghana to Amsterdam to America
Expert:  BizMatters replied 5 years ago.

You do not need a license to ship the gold to the U.S. As long as you do not take possession of it in Amsterdam, it will be shipped through.

 

My recommendation is to use a courier to transport this, but that adds an expense.

 

 

BizMatters, Lawyer
Category: Immigration Law
Satisfied Customers: 1132
Experience: JD -NYS Bar
BizMatters and 4 other Immigration Law Specialists are ready to help you
Customer: replied 5 years ago.
Someone is a having problem with shipping in this same scenerio need more info
Expert:  BizMatters replied 5 years ago.

What kid of problems is he having?

 

What more information do you need?

Customer: replied 5 years ago.

has been detained in amsterdam and taken into custody in London and asked to provide license for shipment

Expert:  BizMatters replied 5 years ago.

There must be something wrong with the shipment or characther of the gold.

 

If this is personal gold, and he can show he owns it, a license is not required to bring it into the U.S.

 

However if said gold shipments are business related, say you are a dealer in gold ingot, then there is a requirement. This is because the gold is intended for other than personal holding and investment. It is a commodity.

 

Also if the gold is ticketed to the U.S. he should have no problem, unless he took possession in some way.

 

Was he detained by U.S. customes or Amsterdam customs?

Customer: replied 5 years ago.
Amsterdam,Netherlands, then detained in the UK
Expert:  BizMatters replied 5 years ago.

DearCustomer

 

Amsterdam should have not had a problem with this if the character is as I have said.

 

Ghana has a shipping license that is required for shipping gold out of the country. The license is normally obtained from the bank.

 

My advise for your friend is to retain an attorney in London to help him out. I can not help him from this venue.

 

If he did not have the Ghana license to transort, then that may have been a problem.

 

 

 

Customer: replied 5 years ago.
how much for license? was my original question
Expert:  BizMatters replied 5 years ago.

DearCustomer

 

Here is what is involved with getting a license to ship gold from ghana.

 

Two situations. There is no fixed price for the license, but it can average between 6 and 10% of the value of the gold. You get a license from the bank for personal assets held on account.

 

Second situation is if you get alicense from the only company allowed to ship gold from Ghana for resale to the public. I have no idea what they charge to license you as an agent of the company. http://www.pmmcghana.com/

 

Something is wrong with your scenario. It sounds like a familiar scam regarding gold inheritance form Ghana.

 

In the scam, a person claims to be transporting gold (an inheritance) to the U.S., or other country, but along the way, they get detained. THEN the victim is asked to send the person who is transporting the gold, sufficient cash to purchase a an import or transport license, or customs taxes, or inheritance tax, and sometimes travel money because customes requires it etc.

 

All of these requests for money are scams ran out of Ghana, Nigeria, and other African countries. Perhaps you have knowledge of the legitimacy of this activity, but it sounds scammy to me.

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