How can you export gold from Philippines?

Answer 1

you can export gold from the Philippines if you have the necessary license to export gold. as to how to obtain the said license to export, that is beyond my knowledge.

however, there is a restriction on the said right to export gold. the only instance i know where you are not allowed to export gold is when the said gold was mined by small scale miners. gold mined by small scale miners should be sold to BSP. please see the full text of BSP circular pp 1389 (april 13, 1993).

the said circular provides in essence that there is no need for BSP approval for the purchase and sale of gold except from gold mined by small-scale miners.

having said that, you can export gold from the philippines if:

1. if you have the necessary license to export gold abroad

2. if you are not a small-scale miner and you dont have a license to export gold abroad, better approach and transaction with a company/person who does have a license to export gold outside of the philippines. you only have to pay 15% royalty fee based on the gross proceeds. the advantage of this set up is you sell your gold based on the london gold price (1712.15 us dollars per troy onze as of march 3, 2012 ). you still get a way much higher net proceeds even after deducting the 15% royalty fee. the only disadvantage to this kind of transaction is the owner of the gold items should accompany the export company to london for the necessary sale and payments of gold in london.

i came to know of a company who exports gold abroad. this company was a prospective buyer of real estate properties here in davao city.

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