Stacked gold bars can often be seen in films when characters discover a treasure. But any resident of Belarus can become the owner of gold bars. And you don’t have to be the hero of an adventure novel to do this. It is important that the purchasing conditions may be much better than in the United Arab Emirates or Switzerland.
Advantages
When purchasing gold bars in the Republic of Belarus, VAT is not charged.
The quality of each measuring ingot is confirmed by a state certificate. The purchase and sale of precious metals carried out by an individual is carried out without the presentation of official documents. Ingots with a total weight of 500 grams intended for personal purposes can be exported from the country without hindrance and without paying customs duties. Despite the fact that private individuals, both residents of Belarus and non-residents, have the right to export precious metals.
Gold today: rates, forecasts, how to buy
Dynamics of compulsory medical insurance for goldin 2021 at VTB Bank online.
Profitability calculator for deposits in gold VTB Bank (PJSC) (VTB, VTB24 and Bank of Moscow) Gold purchase rate at VTB today and dynamics for 5 days: 02/28/2021
| 27.02.2021 | 26.02.2021 | 25.02.2021 | 24.02.2021 | ||||||
| purchase 4018.10 | sale 4270.10 | purchase 4018.10 | sale 4270.10 | purchase 4018.10 ↓ -94.1 | sale 4270.10 ↓ -99.4 | purchase 4112.20 ↓ -4.8 | sale 4369.50 ↓ -6.1 | purchase 4117.00 | sale 4375.60 |
VTB gold rates archive
For the entire period from 02/06/2014 to 02/28/2021, the profitability of the deposit in the VTB gold metal account (OMA) was:
190.12%
or
a profit of 380,231 rubles
from 200 thousand rubles (approximately 144 grams) of gold.
Over the past month
(from January 28 to February 28) the yield on gold deposits in VTB was:
-14.25%
or
a loss of -28,510 rubles
from 200 thousand rubles (approximately 43 grams) of gold.
Over the past 3 months
(from November 28 to February 28) the yield on gold at VTB was:
-10.86%
or
a loss of -21,723 rubles
from 200 thousand rubles (approximately 44 grams) of gold.
The profitability of compulsory medical insurance at VTB is calculated using the formula: D = ((K2-K1) / K1) * 100%)
K1 –
sale (for calculation, the gold sale rate established by VTB on the date of sale is used), K2 –
purchase
(for calculation, the rate is used gold purchase VTB established on the date of purchase)
An unallocated metal account (UMA) is an account that reflects the client’s precious metal in grams without indicating its individual characteristics (number of bars, fineness, manufacturer, serial number, etc.).
- By playing on precious metals quotes, the owner of VTB Compulsory Medical Insurance can earn income in the same way as when playing on the stock market.
An impersonal metal account (UMA) is an analogue of a regular ruble account with the difference that it does not count rubles, but an impersonal precious metal in grams, without indicating the individual characteristics of the bullion (quantity, sample, manufacturer, serial number, etc.). At VTB24 you can open an account in gold, silver, platinum and palladium. Compulsory medical insurance at VTB24 gives you the opportunity
- buy an impersonal precious metal from a bank for Russian rubles;
- sell the impersonal precious metal to the bank for Russian rubles;
- transfer precious metals to other impersonal accounts opened in your name at VTB24 in the same metal.
To open an account, contact any VTB24 office with an identification document. To open a metal account, you need to have a current account in Russian rubles. If you do not yet have a current account with VTB24, then it will be opened for you simultaneously with compulsory medical insurance. There is no fee for opening a compulsory medical insurance.
The main advantages of compulsory medical insurance at VTB24
- no VAT when purchasing metal;
- the ability to sell and buy precious metals at any time;
- no problems with storage, certification and transportation of physical metal;
- the opportunity to receive high income due to rising metal prices;
- the opportunity to diversify your savings;
- simplified procedure for buying and selling metal.
You can top up your metal account
- When buying metal from a bank.
- Your account will be credited with an amount of precious metal equivalent to the amount paid in rubles based on the current VTB24 sales rate. Moreover, the amount of metal purchased is not limited by the weight standards of the ingots (as in the case of a physical purchase) and depends only on your desire.
- By transferring metal from other compulsory medical insurance in the same metal, opened in your name at VTB24.
Expense transactions under compulsory medical insurance
- You can sell precious metal to the bank from your compulsory medical insurance for Russian rubles at the VTB24 purchase rate. The cash equivalent for the metal will be credited to your current account.
- You can also transfer precious metal from one compulsory medical insurance to another. It is important that both compulsory medical insurances are opened in your name at VTB24 in the same metal.
Features of operations with compulsory medical insurance at VTB24
- at VTB24 you can open a metal account in gold, silver, platinum and palladium;
- minimum size of purchase and sale of precious metal: for silver - at least 1 g;
- for gold, platinum and palladium - minimum 0.1 g.
- there is no minimum minimum balance;
- interest on the balance of precious metal on compulsory medical insurance is not accrued;
- account transactions are carried out without physical delivery of metal, i.e. acceptance and delivery of precious metals in the form of bars and coins (in physical form) are not carried out;
- the term of the depersonalized metal account agreement is not limited;
- transactions on the account are carried out in accordance with the bank’s tariffs;
- Storing funds on compulsory medical insurance does not fall under the law on insurance of deposits of individuals; accordingly, they are not covered by the guarantees of the deposit insurance system, of which VTB24 is a participant.
- Art. 226 of the Tax Code of the Russian Federation establishes that the calculation of amounts and payment of tax are carried out by the tax agent in relation to all income of the taxpayer, the source of which is the tax agent, with the exception of income in respect of which the calculation and payment of tax are carried out in accordance with Art. 228;
- Art. 228 of the Tax Code of the Russian Federation determines the need for individuals to independently calculate and pay tax on amounts received from the sale of property (in this case, from the sale of impersonal metal) owned by individuals.
Taxation of transactions with compulsory medical insurance
The Bank is not a tax agent for transactions with compulsory medical insurance, i.e. You independently calculate and pay tax on the sale of impersonal metal:
Residents of the Russian Federation
Calculate and pay tax on income from transactions with impersonal metal accounts at a rate of 13% (clause 1 of Article 224 of the Tax Code of the Russian Federation). If the metal was owned for less than 3 years, the tax base can be reduced by a property tax deduction in the amount of up to 250,000 rubles (clause 1, clause 1, article 220 of the Tax Code of the Russian Federation).
If the metal has been owned for more than 3 years, income from its sale is not subject to personal income tax (clause 17.1 of Article 217 of the Tax Code of the Russian Federation).
Non-residents of the Russian Federation
They calculate and pay tax on income from transactions with impersonal metal accounts at a rate of 30% (clause 3 of Article 224 of the Tax Code of the Russian Federation).
Belarusbank offers
Purchasing gold in measured ingots from JSC JSB Belarusbank guarantees a profitable investment of available funds, since the cost of precious metals is constantly rising.
Possession of gold bars, the quality of which has been confirmed by the National Bank of the Republic of Belarus, will create a cushion of financial security in an unstable economic situation in the world. And the fact that an ingot of precious metal is the best gift for any person, regardless of his status, age and religion, is an indisputable argument.
Bank gold bars
Gold bars produced in our country have a purity of at least 999.5. Depending on the sample and weight nomenclature, they are measured and standard. The manufacturer's mark must be present on the front side.
Measured ingots have a mass from 1 to 1000 grams. The minimum content of pure metal in them is 99.99%. Bankers call 999.9 fine bars “four nines”, and 999.99 fine bars are called “five nines”. GOST R 51572-2000 is established for measured gold bars.
Standard ingots are produced weighing from 11 to 13.3 kg and a fineness of at least 999.5. Ingots of this type are subject to the interstate standard (GOST 28058-89). A standard gold bar is made in the shape of a regular truncated pyramid. The manufacturing plant has the right to produce standard ingots of a different shape and weight.
According to the manufacturing method, gold bars are either cast or stamped.
Cast bars are made by pouring molten gold into prepared molds where the precious metal cools and becomes solid. Both measured (500 g and more) and standard ingots are produced by casting.
Stamped bars are more liquid in the banking industry because they have a perfectly smooth surface and perfect shape. However, they are more expensive to produce because stamping requires high-tech equipment. Stamped ingots are produced only in dimensional quantities - weighing no more than 500 g.
There are also powder ingots not provided for by Russian standards. They are made electrolytically from gold powder. Powdered ingots are practically never found in banks in our country.
Special types of ingots:
ChipGold bars resemble a credit card and weigh between 1 and 20 grams. ChipGold is sold in sealed and certified packaging.
Kinebar bars contain a special kinegram, which is used as a protective element and at the same time creates visual appeal. A Kinegram is a metallized element with the effect of a moving three-dimensional pattern, pressed into a gold bar. Kinebar bars are a registered trademark of the largest bank in Switzerland, UBSAG.
CombiBar bars are produced in the form of a chocolate bar and are manufactured in Switzerland. The main feature of such a gold bar is that it can easily be broken by hand into even slices weighing 1 gram. CombiBar gold slices can be used as an alternative means of payment or simply given as a gift to someone. Valcambi produces slab bars not only from gold, but also from other precious metals: silver, palladium and platinum.
← Investment coins↑ Information about goldUses of platinum →
Where can I buy
On the website belarusbank.by you can use the search service for a nearby branch that sells bullion. The client can navigate the work schedule and visit the unit at a convenient time. Or use the service that allows you to make an appointment by phone for an exact time and date.
Branches of the division are located in Minsk and the regions: Brest, Vitebsk, Gomel, Grodno, Mogilev. Prices may vary between departments. The price of gold changes throughout the day.
You may be interested in: How to transfer money from a Belarusbank card to a card
Methods for opening compulsory medical insurance at VTB
Opening a metal deposit is similar to an operation with a regular deposit.
At a bank branch
When visiting a branch, you need to:
- present your passport and write a statement of intent to open an impersonal deposit;
- open a current account in rubles;
- draw up an agreement.
After completing the documents, you can purchase impersonal gold for cash or by paying with funds from your personal account.
Online on the bank's website
On the Internet banking page, you need to go to the “Investments” section and find the “Unallocated metal account” menu. You can also manage your account here.
Expert opinion
Lyudmila Pestereva
Our most experienced gold investor
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From January 17, 2017, VTB cannot open new metal deposits, but previously created accounts continue to be serviced.
Procedure
The weight of one measured ingot can be in grams: 1, 5, 10, 20, 50, 100. The sale and purchase of ingots is carried out after examination. Examination and weighing takes place in the personal presence of the client based on the requirements of the National Bank of the Republic of Belarus.
Upon purchase, the client receives a certificate of quality from the manufacturer, but must visually verify that there are no visible damages on the ingot.
The owner of gold has the opportunity to sell it at a favorable price in the same structural divisions of Belarusbank. The sales procedure also involves an examination and presentation of a certificate.
Conditions for opening a deposit in gold
You can open an impersonal metal deposit at VTB in any precious metal; you should buy it using the currency of the Russian Federation - rubles (all transactions are carried out in this currency). The term of an agreement with a financial organization is not limited by time; you can terminate cooperation at any time.
The depositor must be a client of VTB 24 and have an active ruble account or create one at the same time as a metal one.
Required documents
To open compulsory medical insurance, the client must present a passport of a citizen of the Russian Federation or an identity document, as well as a tax identification number. If you do not have a passport, you can present a duly issued temporary certificate. Foreigners present a passport of a foreign state and a document confirming the legality of their stay in Russia.
Requirements for depositors
Any capable citizen of the Russian Federation who has reached the age of majority and has confirmed his identity, as well as a foreigner legally residing in Russia, can become a bank depositor.
Types of quality certificates
Refinery certificate. The presence of this document confirms the authenticity of the metal. Here they write the official name of the plant, trademark, name of the item and gold standard. In addition, the gold bar number, stamp and trademark indicated on the certificate must correspond to the same data on the jewelry or coin.
Manufacturers of gold and products made from it try to adhere to these conditions for the design of their products in order to maintain their image and authority in this environment, because their well-being depends on the quality of such an expensive product.
Official stamp, mark, trademark. They can also be one of the types of certificates, because they are placed directly on the gold product. Their presence indicates that the item is made of genuine gold and its price corresponds to the declared quality.
Declaration of conformity. It is made in accordance with the requirements of Government Decree No. 982 of December 1, 2009 for the main types of jewelry.
Profitability calculation
To calculate the profitability of a deposit in VTB 24, you need to use the formula:
D = (K2-K1) / K1 x 100%, where K1 is the gold sales rate. It is set by VTB on the date of sale, K2 is the purchase rate at the moment when the precious metal was purchased.
By tracking changes in the value of gold on the world market, the owner of an impersonal deposit can receive income in the same way as when playing on the stock market.
There is a profitability calculator on the website of a commercial organization, using which you can make approximate calculations.
How to close a deposit
To close an impersonal account, the deposit holder must sell “virtual” gold to the bank and transfer the funds to any of their own accounts. This can be done both in the branch and online.
According to the Tax Code of the Russian Federation, when closing a deposit that has been owned for less than 3 years, residents of the Russian Federation are required to pay tax at a rate of 13%; if the deposit is 3 or more years old, then personal income tax is not charged.
Non-residents of the Russian Federation are required to pay a tax on transactions with unallocated gold in the amount of 30%.
