Export Silver

Question

Dear Sirs,
Are there any resrtictions/duties/taxes applicable to exporting a large volume of silver to Bahrain?
Regards,
Roy

Answer

Dear Roy,

To give an exact answer to your question, you would need to advise exactly what type and form of silver or silver product is going to be exported, ie is it in the form of finished, or part finished jewellery products, bullion, bar, wire or other unmanufactured form, or scrap or ore?

As a guideline, there do not appear to be any export restrictions on sales to Bahrain of silver jewellery products (finished or part manufactured), nor on silver ore. There are, however restrictions on sales of silver, gold & precious stones & other similar products to Iran, and also restrictions on sales of luxury goods to Syria. If the goods are ultimately destined for those markets, even if you sell & ship them in good faith or ignorance to a client in Bahrain, you may find yourself in breach of export controls; therefore you should make efforts to satisfy yourself that this is not the case.

If you want to check this for any specific products, you can visit the following online UK / EU Customs tariff: https://www.gov.uk/trade-tariff/sections then follow the link to the item which corresponds to your product. When you find it, go to the bottom of the page, then click on the option to find out about country-specific export restrictions for that commodity. You could also contact the Export Control Office at the Department of Business, Innovations & Skills, at tel; 020 7215 4594 or by email : [email protected] .

This answer does not take into account any import restrctions in Bahrain, and you should also be aware of money laundering rstrictions, which govern any cash sales of jewellery products with a value of over £10,000.

Answer

Roy,

Mike has already provided a detailed response to your question.

You may also find the following link useful as it will give you an idea of the import duties based on the harmonised codes:
http://madb.europa.eu/mkaccdb2/datasetPreviewFormATpubli.htm?datacat_id=AT&from=publi

Richard Beams
Richard Beams, Senior Manager, Qatar and Bahrain|

UK Trade & Investment| 1 Victoria Street | London SW1H 0ET | Tel: +44 (0)20 7215 6159| E-mail: [email protected] website:www.ukti.gov.uk

With professional advisers both within the UK and across more than 100 international markets, UK Trade & Investment is the Government Department that helps UK-based companies succeed in the global economy and assists overseas companies to bring their high-quality investment to the UK.

Answer

Information on the Customs requirements for exporting are given in HMRC Public Notice 275. All notices can be found on our website www.hmrc.gov.uk under Quick Links > Library > Official Statistics – Publications – Notices, Info Sheets & Other Reference Materials > Import, Export & International Trade. The Public Notices are in numerical order.
Please note if the silver is in the form of coins or currency this should also be declared to Customs Officers of the UK Border Force (UKBF).

HM Revenue & Customs
Customs International Trade & Excise
www.hmrc.gov.uk/contactus

Export Action Plan