Gold Export Procedures by Angkor Gold Wealth Management Limited (Sierra Leone)

Angkor Gold Wealth Management Limited provides a streamlined, secure, and compliant process for exporting gold from Sierra Leone. Below is a detailed breakdown of the steps tailored to the Sierra Leonean regulatory framework:

1. Client and Consignee Information

Client Details: Exporters must provide full details of the consignee, including name, address, and telephone number.

Verification: Angkor Gold Wealth Management Limited ensures compliance with local and international trade regulations by verifying all parties involved.

2. Licensing and Registration

Gold Dealer’s License: The company ensures that all gold sourced for export is legally obtained and complies with the National Minerals Agency (NMA) regulations.

Export Permit: Angkor Gold Wealth Management Limited secures an export permit for each shipment from the NMA.

3. Sourcing and Documentation

Sourcing: The company sources gold exclusively from registered miners and licensed suppliers in Sierra Leone.

Required Documentation:

• Certificate of Origin: Certifies that the gold originates from Sierra Leone.

• Assay Report: Confirms the gold’s purity and weight (issued by an NMA-approved laboratory).

• Proforma Invoice: Lists details such as:

  • Purity (gold content).

  • Weight (in ounces or kilograms).

  • Value (based on LBMA spot price).

• Customs Declaration Form: Required for export clearance by the Sierra Leone National Revenue Authority (NRA).

• Sales and Purchase Agreement (SPA): Outlines the transaction terms between Angkor Gold Wealth Management Limited and the buyer.

4. Gold Processing

Assaying: Gold is tested for purity and weight at NMA-certified facilities.

Smelting: If needed, gold is smelted into exportable bars or other agreed formats. Applicable smelting fees are disclosed in advance.

5. Taxes and Royalties

Export Royalties: Angkor Gold Wealth Management Limited ensures payment of all government royalties (3%-5% of the gold’s value).

Additional Fees: Covers any administrative fees or charges required by the NMA or NRA.

6. Transportation and Logistics

Secure Transport: Gold is transported to Lungi International Airport or another approved exit point using certified armored vehicles or secure logistics providers.

Insurance: Exporters must arrange comprehensive insurance to cover the shipment during transit.

Airfreight: Angkor Gold Wealth Management Limited coordinates with airlines for timely and secure shipment.

7. Customs Clearance

Customs Documentation: The company prepares and submits all necessary export documents to the NRA and Customs Department.

Inspection: Customs authorities inspect the gold to ensure compliance with export regulations.

8. Financial Transactions

Payment Security: All transactions are conducted through licensed financial institutions approved by the Bank of Sierra Leone.

Letter of Credit (LC): Angkor Gold Wealth Management Limited recommends LC or similar instruments for secure payments.

9. Export Approval

Regulatory Approvals: Final export approval is obtained from the NMA, ensuring compliance with all legal requirements.

Handover: Gold is delivered to the logistics provider for onward shipment to the consignee.

10. Post-Export Compliance

Transaction Records: The company maintains detailed records of all exports for audit and compliance purposes.

Reporting: Periodic reports are submitted to the NMA and the Bank of Sierra Leone, as required.

Why Choose Angkor Gold Wealth Management Limited?

• Expertise: Extensive knowledge of Sierra Leone’s gold trade regulations.

• Compliance: Adherence to all local and international trade standards, including AML/KYC protocols.

• Security: Robust procedures ensure secure handling, transportation, and delivery of gold.