BUY GOLD WITH CRYPTO IN DUBAI

[kokolokop]

Hello,

does anyone know if buying gold in Dubai with crypto is easy and straightforward or there are some disadvantages? And if thats a good alternative on cashing out your crypto in Dubai?

1. Can someone recommend a reputable gold supplier that I can find in Dubai that offers gold bars with crypto?
2. What are the fees involved when buying and selling gold in Dubai?
3. What are the storage options, can someone recommend a storage options for gold in Dubai and maybe know the yearly rates?
4. How difficult is selling the gold when you decide to do so in Dubai?
5. Is buying and selling gold non-taxable in Dubai?

I would be grateful for any help on this. Thank you.

 

[CaptK]

1, Go to the Gold Souk
2, 5%VAT
3, most of the banks have a gold storage facility
4, very easy
5, it is applicable for VAT but if you sell p2p then no more tax is applicable.

 

[uplana]

I would go and speak with @Fred or @Gediminas Maybe they can take you by the hand and walk you to some valid seller.

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[Dreamy]

Btw what about variant - buy gold for crypto in Dubai and sell it in some time, as a result get clear money on UAE bank account?

 

[bubbledouble]

Dreamy said:
Btw what about variant - buy gold for crypto in Dubai and sell it in some time, as a result get clear money on UAE bank account?
Click to expand...

ìnteresting question, they do or did in Germany that way only very few years ago before the limits.

 

[blizz]

Dreamy said:
Btw what about variant - buy gold for crypto in Dubai and sell it in some time, as a result get clear money on UAE bank account?
Click to expand...

it's sadly not going like this unless you do some tweaking in that chain

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[clemens]

bubbledouble said:
ìnteresting question, they do or did in Germany that way only very few years ago before the limits.
Click to expand...

you can still do it in Germany if you are a old customer with some of their shops.

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[uplana]

clemens said:
you can still do it in Germany if you are a old customer with some of their shops.
Click to expand...

But if you are not then you have to comply to the euro 2000 limit which sucks.

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[ehsantz94]

kokolokop said:
Hello,

does anyone know if buying gold in Dubai with crypto is easy and straightforward or there are some disadvantages? And if thats a good alternative on cashing out your crypto in Dubai?

1. Can someone recommend a reputable gold supplier that I can find in Dubai that offers gold bars with crypto?
2. What are the fees involved when buying and selling gold in Dubai?
3. What are the storage options, can someone recommend a storage options for gold in Dubai and maybe know the yearly rates?
4. How difficult is selling the gold when you decide to do so in Dubai?
5. Is buying and selling gold non-taxable in Dubai?

I would be grateful for any help on this. Thank you.
Click to expand...

hi
whatever about buy gold by crypto in dubai i can do for you
if you want buy or sell gold by crypto i will do for you

uplana said:
I would go and speak with @Fred or @Gediminas Maybe they can take you by the hand and walk you to some valid seller.
Click to expand...

hi
whatever about buy gold by crypto in dubai i can do for you
if you want buy or sell gold by crypto i will do for you

 

[uplana]

ehsantz94 said:
hi
whatever about buy gold by crypto in dubai i can do for you
if you want buy or sell gold by crypto i will do for you
Click to expand...

you realize that advertising isn't allowed here - For sure I would not buy or sell to a dude I don't know smi(&%

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Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.

 

[bubbledouble]

uplana said:
I would go and speak with @Fred or @Gediminas Maybe they can take you by the hand and walk you to some valid seller.
Click to expand...

I wonder why none of them can help?

 

[Au999]

There is no vat (it's zero rated) on "Supply or import of investment precious metals" ie bullion. Anything other than bullion, like jewellery etc has 5% vat.

That's direct from dgcx commodities exchange website

 

[clemens]

Au999 said:
There is no vat (it's zero rated) on "Supply or import of investment precious metals" ie bullion. Anything other than bullion, like jewellery etc has 5% vat.

That's direct from dgcx commodities exchange website
Click to expand...

totally right, there is no VAT on Gold bars nor buillions.

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[fortunespeculator]

Au999 said:
There is no vat (it's zero rated) on "Supply or import of investment precious metals" ie bullion. Anything other than bullion, like jewellery etc has 5% vat.

That's direct from dgcx commodities exchange website
Click to expand...

So we buy gold from the exchange itself they give delivery in how many days??

 

[bubbledouble]

fortunespeculator said:
So we buy gold from the exchange itself they give delivery in how many days??
Click to expand...

please if you know let us know here

 

[fortunespeculator]

bubbledouble said:
please if you know let us know here
Click to expand...

I myself am asking Au999 for confirmation 🙂

 

[697477671563]

Off the topic but I seek help. My gold bars are dated 2009, "Emirates gold", stored in Dubai. The issue is I want to tokenize it but no one won't take it because it's not on the Good Delivery list. Is there a way to add it to this list? Refineries only work with legal entities, but I bought it as an individual and I wanna do it as an individual, too.

 

[aniglo22]

697477671563 said:
Off the topic but I seek help. My gold bars are dated 2009, "Emirates gold", stored in Dubai. The issue is I want to tokenize it but no one won't take it because it's not on the Good Delivery list. Is there a way to add it to this list? Refineries only work with legal entities, but I bought it as an individual and I wanna do it as an individual, too.
Click to expand...

No , Emirates Gold as an entity would need to apply for lbma membership themselves and also pass the requirements set by lbma .

Depending on the quantity you could try refining .

Last edited: Aug 13, 2024

 

[alley]

697477671563 said:
My gold bars are dated 2009, "Emirates gold", stored in Dubai
Click to expand...

can you explain this to me in some easier language, I don't understand what is wrong with your gold? I thought Gold is Gold and you can sell it as easy as you can buy it ?

 

[aniglo22]

alley said:
can you explain this to me in some easier language, I don't understand what is wrong with your gold? I thought Gold is Gold and you can sell it as easy as you can buy it ?
Click to expand...

The Good Delivery list is a quality guarantee due to its standards and requirements, making gold on this list easier to trade and more widely accepted in business transactions.

And his refinery isn't listed on it