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How does buying VAT-free silver work?
When you purchase VAT-exempt silver, your purchase will not be delivered in the Netherlands, but stored directly through our partner, Edelmetaal Beheer Nederland (EBN). EBN specializes in the safe storage of precious metals and has vault locations in the Netherlands and a customs warehouse in Zurich, Switzerland.
Because the silver does not enter the European Union, there is no VAT on purchase or sale. You have full legal ownership of the silver, while EBN stores and insures it on your behalf. All stored silver bars are periodically audited by an independent accountant and are supervised by the Netherlands Authority for the Financial Markets (AFM).
The Silver Mountain is an affiliated broker of EBN and exclusively authorized to handle the purchase and sale of VAT-exempt silver.
The storage itself takes place at LOOMIS International in Zurich, one of the largest and most reputable providers of precious metal storage in Europe, where companies like Credit Suisse also hold their inventory. Your silver is stored there individually (allocated) in your name, strictly secured, and insured up to its current market value.
Our range of VAT-free silver bars.
At The Silver Mountain, you'll find a wide range of LBMA-certified silver bars from producers such as Umicore, Valcambi, and Heraeus. All bars are at least 99.9% pure silver and are suitable for storage in a Swiss bonded warehouse.
- The 1-kilo silver bar is a popular choice among private investors: compact, competitively priced, and easy to trade.
- The 100-troy-ounce silver bar (approximately 3.1 kilograms) offers a lower premium per gram and is suitable for investors looking to expand their holdings.
- For larger investors, the 1,000-troy-ounce silver bar (approximately 31 kilograms) is the most economical option, with a premium of approximately 2% above the silver price and optimal storage efficiency.
Also view our complete collection of silver bars for current prices, brands, and sizes.
Why store in Switzerland?
Switzerland is the global center for professional precious metal storage. Loomis' vaults in Zurich are among the safest in the world and are outside the European VAT system. This means your silver can be held VAT-free as long as it remains stored there.
Edelmetaal Beheer Nederland account
Your personal EBN account gives you 24/7 insight into your holdings. You can see exactly which bars you own, including weight, producer, and serial number. Your silver is fully insured against current market value and is audited annually by an independent auditor.
Who benefits from VAT-free silver?
VAT-exempt silver is attractive to both private and business investors. Individuals choose this structure to invest in physical silver in a tax-efficient way, without the practical challenges of home storage. For entrepreneurs, it's an efficient way to hold silver without having to reclaim VAT.
Because silver is more voluminous than gold, professional storage is also safer, more efficient, and easier to manage.
100% insured and your property.
EBN's storage operates on the allocation principle: each silver bar is physically linked to your name and individually traceable. You will receive a custody agreement detailing the weight, type, and serial number. Your silver is fully insured up to its current market value and is legally separated from the assets of both EBN and The Silver Mountain.
Sell VAT-free silver.
Want to sell later? You can do so directly from the warehouse at any time. Thanks to our buyback guarantee, you sell at a market-based price without the silver having to leave the customs warehouse. The proceeds are usually credited to your account within one business day.
The Silver Mountain
Frequently asked questions about buying VAT-free silver bars
Can I buy silver without VAT?
Yes. By storing your silver in a customs warehouse outside the European Union, for example, in Switzerland, you don't pay VAT as long as it remains there.
Can I physically receive my silver bar later?
Yes, you can. Upon delivery to the Netherlands, 21% VAT is charged on the current value. Most investors choose to sell the silver from storage to retain the VAT advantage.
What does VAT-free storage cost?
You pay a storage fee for storage. This fee covers insurance, security, and administration. The current rates are visible in your customer portal.
Is my silver insured and traceable?
Yes. Each silver bar is individually registered and linked to your name. Your holdings are fully insured up to the current market value.
What happens if The Silver Mountain or EBN goes bankrupt?
Your silver is your legal property. It is off the balance sheet of both parties and cannot be claimed by creditors or third parties.
Why is silver subject to VAT and gold not?
The Dutch Tax and Customs Administration considers gold an investment and has therefore exempted it from VAT. Silver, on the other hand, is considered an industrial metal because it is widely used in electronics, solar panels, and medical applications, among other things. Therefore, the standard VAT rate of 21% applies, unless you use the margin scheme for silver coins.
What's the difference between VAT-exempt silver and a silver account?
A silver account is a digital position: you don't own physical silver, but rather a claim on the account provider. With VAT-exempt silver stored at The Silver Mountain, on the other hand, you own tangible silver bars that are physically registered in your name, stored in a vault under AFM supervision and fully insured. This offers considerably more security than a digital account.
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