Buying gold in Switzerland without VAT
Understand the VAT exemption conditions for investment gold.
Switzerland applies a 7.7% VAT on most precious metals except for pure gold. The VAT Act (VATA) specifically exempts 'legal tender' and gold bars and coins with a purity of ≥ 995‰.
Eligible Forms (VAT-free): Bank bars (PAMP, Argor, Metalor), Swiss Vreneli, and listed foreign coins (Krugerrand, Maple Leaf, Eagle if ≥ 999‰), fine granules or sheet metal.
Not Eligible: Gold jewelry (even 18k or 24k), worked gold, collectable coins (numismatic), and medals. These products are subject to 7.7% VAT.
Investor Strategy: Buy through an authorized dealer like GoldAvenue (PAMP subsidiary, Geneva) or Degussa Zurich to benefit from the automatic exemption. Swiss online platforms generate the FOCT documentation included with every purchase.