Transport of precious metals within the Schengen Area - a new service from Safebox24

As a result of the armed conflict in Ukraine, interest in transporting and storing gold in a secure location has increased. There is a strong demand for safe havens that guarantee neutrality during armed conflicts and a stable legal system. Switzerland is certainly one such location in Europe. The international transport of gold is a complex process requiring a high level of security and compliance with various national and international regulations. Due to gold's high value and its importance as an investment and raw material, its transport carries a high risk, making thorough planning, security measures, and cooperation with trusted logistics partners and institutions essential.

Types of international gold transport

There are various ways to transport gold, depending on where the gold is being transported from and where it is going:

• Air transport : This is the most common method for transporting gold over long distances, especially internationally. Due to its speed and relatively high level of security, air transport is preferred by central banks, investment funds, and financial institutions.

• Transport by land : When gold is transported within a continent, road or rail transport can be used. However, it is more susceptible to theft and requires extremely careful security.

• Sea transport : This mode of transport is used less frequently, primarily for large quantities of raw materials and over longer distances. It is often used for transporting gold in the form of ores or semi-finished products.

  
  

Agencies involved in the transport of gold

The transport of gold is carried out by specialized companies that offer the highest levels of security, logistics, and compliance. The following are involved in this process:

• Central banks : Often organize the transport of gold into their national reserves.

• Mining companies : Gold mining companies transport gold from the mines to refineries or other processing plants.

• Financial institutions and investment funds : They transport gold to vaults and other storage facilities to secure their investments.

• Logistics companies and vaults : Specialized companies like Safebox24 offer the transport of valuables, including gold, with a comprehensive range of protection and insurance services.

  
  
  
  

Safety precautions when transporting gold

Due to the high value of gold, its transport requires exceptional security measures. The most important security precautions include:

• Consultation with security companies : Companies specializing in gold transport offer armed convoy escorts to ensure security at every stage of transport.

• GPS tracking systems : Shipments are monitored in real time, allowing for immediate response in case of incidents or delays.

• Insurance : The gold transport is insured for the full value of the transported cargo, thus offering protection in case of loss or theft.

• Encrypted communication : Information about transport routes and transport details is often encrypted to prevent interception by third parties.

  
  

Challenges in international gold transport

International gold transport presents a number of challenges:

• The risk of theft : Due to the value of gold, transport is vulnerable to theft attempts, both during transport and at transshipment points.

• The costs : Due to the need to hire specialized logistics companies and take high security precautions, transporting gold is expensive.

• Price volatility : During international transport, changes in the gold price can affect the value of a shipment, which can lead to an additional financial risk.

• Compliance with legal regulations : Each country has different shipping and customs regulations, so companies need to be thoroughly familiar with the customs and tax regulations in the different legal systems.

  
  

Key markets for international gold transport

Gold is mainly transported between major financial centers and gold markets:

• London : the world's largest gold market, home to the London Bullion Market Association (LBMA). A large portion of global gold trading is conducted through London.

• Switzerland : An important center for the processing and storage of gold. A large proportion of the world's mined gold is processed in Swiss refineries.

• Dubai : An important center for gold trading in the Middle East region.

• Hong Kong and Singapore : Important hubs for gold trading in Asia.

Legal provisions

The international transport of gold is subject to different regulations depending on the country of origin and destination:

• Customs regulations : The transport of gold across national borders is subject to taxation and customs control. Each country has different regulations for declaring the quantity of gold being transported and for any applicable duties and fees.

• Anti-money laundering (AML) controls : Because gold is a high-value asset, it can be used for money laundering, which is why regulations require close monitoring of transactions. Many countries, including the EU and the USA, have regulations on the reporting of large gold transfers and the identity of the parties involved in the transaction.

• International Standards : International gold transport is often subject to the standards of the International Standards Organisation (ISO), which contain regulations for gold quality (purity) as well as for the safe storage and transport of gold.

  
  

Summary

The international transport of gold is a process that requires meticulous planning, a high level of security, and strict adherence to all regulations. Due to the value of gold, its transport must be handled by specialized companies that offer advanced security measures and logistical solutions. The goal is to guarantee complete security and compliance with legal regulations, minimizing the risks associated with the international transport of this valuable commodity. Safebox24 offers a professional service for the transport of gold and other precious metals within the European Union and the Schengen Area. Every shipment is insured and individually planned and priced.

About Us

Safebox24 is one of the largest independent vault operators in the European Union and the first privately owned, automated vault operator in Switzerland. Since 2019, we have offered vault storage in modern, certified facilities, along with a customized Lloyds' insurance policy, professional service, and 24/7 access for customers.

Along with the safe , Safebox24 AG received a license for precious metal trading in 2024 and we are developing the Suisse-Gold brand.