Gold limit at Dubai Airport may be a top concern for travelers, but beyond that, Dubai is a city of glittering skyscrapers rising high into the sky. But there’s more to Dubai than just a skyline with glittering skyscrapers kissing the clouds. There’s another thing glittering here in all its glory. Gold! Yes, when it comes to buying gold, visiting Dubai is like walking into paradise. Dubai sees a high volume of gold sales, as the city is a haven for tax-free business. However, travelers must be aware of the gold limit at Dubai Airport when making purchases to avoid issues during customs clearance.
So, if you’re looking to invest in an asset that shall never depreciate, gold is your pick. Dubai has visitors of two kinds. There are those who halt at the airport and then, there are those who visit the city to stay there. We discuss gold buying for both types of visitors here. We shall also guide you on how much gold you can buy, including the gold limit at Dubai airport allows for duty-free and taxable purchases.
Gold Limit at Dubai Airport: What You Need to Know
It was on April 1, 2016, that it was declared by the Indian government that all-male passengers coming to India from Dubai or other cities abroad can bring with them gold jewelry provided it’s 20 grams or less and costs less than Rs.50,000.
For females, the higher limit has been set at 40 grams with the cost being set at Rs.1,00,000 or less. If you were to bring more gold, you would have to pay a duty of 10% at the Indian airport.
What’s more, no such restrictions are imposed on you if you declare your gold jewelry at the customs paying a duty of 36% as set by the government.
There’s more good news! Indian ex-pats living abroad may bring more gold with them in the near future without having to pay customs duty once the new customs clearance framework is put in place by the Indian government. However, even with the gold limit at Dubai Airport in place, you would still have to go through an elaborate and time-consuming customs clearance process upon returning to India, until the Central Board of Excise and Customs implements the new guidelines it is currently working on.
For those at Dubai airport on a stopover, it’s recommended to purchase gold from the local gold market or the famous Gold Souk, keeping in mind the gold limit at Dubai airport for travelers returning to India. We’ll tell you why. It’s because, at the gold souk, there are many sellers competing with each other which gives you a chance to steal a bargain on making a charge.
On the other hand, at the Dubai airport, there’s very little competition among the sellers which often keeps the prices high.
As for the price, the gold trading price in the international market is fixed on a day-to-day basis. One should, therefore, check the net for the current price before setting out to buy gold. Even though there’s competition among the sellers at the souk, all sellers advertise their price for a particular day which tends to be similar. The bargain is struck on the making charge which varies with some shops offering a cheaper deal due to the competition.
Conclusion:
So, the city of glamour and glitz doesn’t disappoint you when you’re looking to buy some gold as an investment for the future. You can buy enough of it here without having to pay any taxes. If it’s a fashion statement you’re looking to make, grab a piece of niche jewelry here in Dubai. We hope that our guide on how much gold you can buy is helpful in understanding the gold limit at Dubai airport allows for travelers. We hope to hear from you how good a bargain you made in Dubai. Good luck!
