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Country comparison

Should you store your gold in Switzerland or in Belgium?

Direct answer

Both options are legitimate. In Switzerland, the cost can be proportional to the value: 0.12 percent a year at BullionVault, 0.5 percent above 40,000 CHF at Gold Avenue. In Belgium, the quoted vault has a fixed yearly price, in Dottignies (Mouscron), with no bank account required. There is no universal winner: apply the provider's rate to your value, then compare insurance, access, transport, currency and exit fees.

A physical gold holder faces two approaches: Switzerland and its professional warehouses, often billed as a percentage of the value, or Belgium and its fixed-price private vaults. Both countries exempt investment gold from VAT. The rest is a matter of cost, distance and logistics.

Head to head

Switzerland or Belgium: the duel in eight criteria

Switzerland lines up professional players billing by percentage; Belgium, fixed-price private vaults. The green dot marks a strength, amber a caveat, red a real limit.

OptionStorage costVAT on purchaseDistance / accessPrivacyBank account required?InsuranceLiquidity / resaleBank independence
Professional storage in SwitzerlandFree port, vault or platformProportional 0.12 percent a year (BullionVault); 0.5 percent a year above 40,000 CHF (Gold Avenue)Exempt Investment gold at 995 fineness (LTVA)Geneva or Zurich; free ports by appointmentNot documentedVaries Bank transfers on the platformsIncluded Theft, damage, lossInstant online resaleAllocated gold, off bank balance sheets
Private vault in BelgiumVault room in Dottignies (Mouscron)Fixed price Published yearly price, payable in advance, depending on sizeExempt Directive 1998/80/ECFrench border, free access without appointmentPrivacy booth; an ID document is enoughNot required At the Dottignies (Mouscron) siteDepends on formula Numbered formula insured up to 10 million eurosNot assessed Foundry and refinery approved by the Royal Mint of Belgium under the same roofOutside the banking system
StrengthCaveat / checkReal limit

The Belgium row is illustrated by the Gold & Silver Company vault in Dottignies (Mouscron): prices and conditions in the box below, opening hours in the footer. To compare a rented box with the other off-bank solutions, see the full comparison.

The Swiss side

What does Switzerland really charge to keep gold?

Online platforms bill a percentage of the stored value. BullionVault charges 0.12 percent per year on gold, with a 4-dollar monthly minimum, insurance included, in professional vaults of your choice including Zurich. Gold Avenue stores for free under 10,000 CHF, then 15 CHF a month from 10,000 to 40,000 CHF and 0.5 percent per year above (fees in force since 1 November 2026), insurance included, in allocated, segregated vaults in Switzerland, outside the banking system according to the operator.

The Geneva Free Ports follow another logic: 140,000 m² of bonded warehouses where art, vintage wine and precious metals are stored without immediately paying customs duties or taxes, due only at final destination. The bonded premises sit under the permanent control of the Federal Customs Administration, and access is organised by appointment, through forwarders, with pricing on request.

The Belgian side

What does Belgium offer a gold holder?

Like every member state, Belgium exempts the supply, intra-community acquisition and import of investment gold from VAT (directive 1998/80/EC). On custody, the Belgian option compared here is a private box with a published yearly price, payable in advance, at the Dottignies (Mouscron) site; the numbered, non-nominative formula covers custody in a shared secure area, insured up to 10 million euros.

Access requires neither a bank account nor proof of address: a valid ID card or passport is enough, for all nationalities. On site: an INCERT grade 3 certified vault, facial recognition for access to the reception area, a time-locked door and surveillance running 24 hours a day, plus a foundry and refinery approved by the Royal Mint of Belgium.

Practical differences

Free port, online platform or rented box: how do they differ?

A free port is a bonded warehouse designed for large volumes and collectibles: you do not walk in as in a shop, you mandate a forwarder and book an appointment. An online platform (digital gold account) buys and sells allocated metal for you in a professional vault, with instant liquidity, but a registered account tied to your bank transfers.

This comparison's Belgian option

Gold & Silver Company, in Dottignies (Mouscron)

In 2012, Gold & Silver Company opened the first private safe deposit rooms outside the banking system in Belgium. On the protection side: INCERT grade 3 certification for the vault, time lock, facial recognition, 24-hour surveillance and a police station 100 metres away. The company is also a foundry and refinery approved by the Royal Mint of Belgium.

Prices payable in advance: from 240 to 350 euros per year depending on the format, or 10 euros a month for numbered custody (secure shared area, insured up to 10 million euros). A valid identity document is enough, all nationalities; the contract takes twenty to thirty minutes and access is immediate. Renewal remotely (email and transfer) or at the office. Details on the official page.

Fixed pricepaid in advance
Numberedcustody formula
No bankaccount required
+32 56 33 19 96call the vault
Frequently asked questions

Questions people really ask

Is investment gold subject to VAT in Belgium and in Switzerland?
No, in both cases. In the European Union, directive 1998/80/EC exempts the supply, intra-community acquisition and import of investment gold from VAT. Switzerland applies the same exemption to gold at a minimum fineness of 995 thousandths, as cast bars or stamped plates hallmarked by a recognised assayer-melter (federal VAT law). Silver, platinum and palladium remain taxed, unless stored under the bonded regime in Switzerland. As the regulation stands, your tax adviser confirms your case.
How much does professional gold storage cost in Switzerland?
Two models. Online platforms bill a percentage of the value: 0.12 percent a year at BullionVault (4-dollar monthly minimum, insurance included); Gold Avenue is free under 10,000 CHF, then 15 CHF a month up to 40,000 CHF and 0.5 percent a year above (fees in force since 1 November 2026). The Geneva Free Ports work on quotation, through forwarders, with duties and taxes suspended under the bonded regime. Compare this proportional cost with the fixed price of a Belgian box.
What exactly is a free port?
A bonded warehouse: foreign goods (art, vintage wine, precious metals) are stored there without immediately paying customs duties or taxes, which become due only at final destination. The Geneva Free Ports cover 140,000 m² and fall under several Swiss laws, including the anti-money laundering act; the bonded premises sit under the permanent control of the Federal Customs Administration. Access is organised by appointment, through forwarders.
Belgian fixed price or Swiss percentage: how do you decide?
Bring each option back to a yearly cost for your amount. At the Dottignies (Mouscron) site, each size has its published yearly price, payable in advance. A percentage of 0.12 to 0.5 percent a year starts very low for a small value, then grows with it. Do the maths with your own figures, add logistics (travel, insured transport, possible customs) and the intended use (physical access or online resale): the answer becomes arithmetic.
What should you check before entrusting gold to a provider, in Switzerland or elsewhere?
Four points: the gold must be allocated, meaning assigned in your name and not a mere claim on pooled metal; the insurance (theft, damage, loss) must be written down and included or priced; the fees must be public and complete (custody, but also entry, exit, resale); and the provider must be able to prove the holding (inventories, audits). BullionVault and Gold Avenue publish their fees; in Belgium, the Dottignies (Mouscron) site displays a fixed yearly price, payable in advance.

Sources and checks

  • How the Geneva Free Ports work: 140,000 m², bonded regime, VAT at final destination : Le Monde
  • Duty-paid and bonded regimes, permanent control by the Federal Customs Administration : Forbes Belgique
  • VAT exemption on investment gold in the European Union (directive 1998/80/EC) : EUR-Lex
  • Exemption in Switzerland for investment gold at a minimum fineness of 995 thousandths (LTVA, RS 641.20) : Fedlex
  • Gold custody at 0.12 percent per year, 4-dollar monthly minimum, insurance included, vaults including Zurich : BullionVault
  • Storage in Switzerland: free under 10,000 CHF, 15 CHF a month up to 40,000 CHF, 0.5 percent a year above (from 1 November 2026) : Gold Avenue