How to Buy and Store Gold in Switzerland as a Non-Resident (EU Citizen, Non-EU Bank Account)

 


Over the past decade, gold prices have experienced a remarkable surge. In 2015, the year-end price of gold was approximately $1,060 per troy ounce. As of April 14, 2025, gold is trading at around $3,210 per ounce, marking an increase of about 203% over ten years. statista.commacrotrends.net

📈 Key Drivers Behind the Surge

Several factors have contributed to this significant rise in gold prices:

  • Central Bank Purchases: Notably, countries like China have increased their gold reserves, aiming to diversify away from the U.S. dollar amid geopolitical tensions and sanctions. ​Reuters

  • Economic Uncertainty: Policies such as President Trump's tariffs have led to market volatility, prompting investors to seek safe-haven assets like gold. goldmansachs.com+6Business Insider+6Barron's+6

  • Inflation and Currency Devaluation: Concerns over rising inflation and weakening currencies have made gold an attractive hedge for preserving wealth.​New York Post+3Business Insider+3markets.businessinsider.com+3

🔮 Future Outlook

Analysts remain bullish on gold's prospects. Goldman Sachs has raised its year-end 2025 forecast to $3,700 per ounce, citing continued central bank demand and economic uncertainties .​longforecast.com+14New York Post+14markets.businessinsider.com+14MarketWatch+9markets.businessinsider.com+9Reuters+9

If you're considering investing in gold, it's essential to stay informed about market trends and consult with financial advisors to make well-informed decisions.

If you're considering buying physical gold in Switzerland but you're not a Swiss resident, here's what you need to know — especially if you're an EU citizen like myself and planning to pay from a non-EU bank account (for example, Georgia):

✅ 1. You can buy gold in Switzerland as a foreigner

Switzerland is one of the most secure and reputable places to purchase and store physical gold. You don’t need to be a resident to buy or store gold. As long as you have a valid passport (Belgian, in my case), you’re good to go.

💳 2. Paying from a foreign Belgium (non-EU) account is usually allowed

Most reputable gold dealers in Switzerland (like Degussa, Philoro, or PAMP) accept international payments, including from countries However:

  • You may be subject to additional AML (anti-money laundering) checks.

  • You’ll need to prove the origin of funds, especially if the amount is significant.

  • It's best to contact the dealer in advance and confirm that they accept payments from your specific bank/country.

🛂 3. No residence permit required for vault storage

You do not need a Swiss residency or permit to store your gold in Switzerland. Many storage providers — both bank-owned and private (like Loomis, Swiss Gold Safe, or ViaMat) — offer vault services to international clients. These can often be arranged remotely, without ever setting foot in Switzerland.

📦 4. Choose allocated and insured storage

If you're storing long-term, make sure:

  • The gold is allocated (meaning specific bars are assigned to you, not pooled).

  • The vault is insured and offers audited reports.

  • You get full legal ownership, not just a “paper claim.”

📝 Final tip: Keep documentation

Keep copies of your purchase invoices, proof of identity, and wire transfers. It may help later with customs, taxes, or proving ownership if needed.

Switzerland remains one of the most discreet, stable, and secure places to hold gold. Even if you're paying from outside the EU or don’t live there — it’s absolutely doable with the right preparation.

Happy stacking!

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