Why do you need an impersonal metal account?

An impersonal metal account allows a physical, legal person, bank or small enterprise to buy a certain amount of gold, palladium, platinum or silver in the form of a record in an account with a credit institution. The positive point is that when buying there is no problem, where to store the received jewelry and how to insure them. In addition, an account of this type can be opened on a person who has not reached adulthood. This is a good investment in the future of the child. It is also interesting that an impersonal metal account when operating with it does not imply the collection of VAT on both the purchase and the sale of assets.

In order to buy precious metal, it is necessary to conclude an agreement for each specific type of metal. The specifics of the agreement of such a plan are the absence of interest on the account balance, the possibility of withdrawing and depositing gold, silver, etc. from the account in physical form on special terms or selling it back to the bank at a rate fixed for a certain date.

An impersonal metal account is offered to open in credit institutions, but not in all. In order to conduct such operations, the bank must have the relevant documents. Therefore, after making a decision on this type of investment, be sure to ask for a license to conduct transactions with precious metals.

When entering into a conventional contract, an impersonal metal account is opened for one year with automatic prolongation for the same period. The amount of initial investment is usually limited to one gram for silver and one-tenth of a gram for palladium, platinum and gold. The account is opened for free, but for the conduct of operations, commission is taken when issuing or crediting metals to an account. Specific pricing and conditions are better to be learned in the credit organization where you are going to make acquisitions.

There are some recommendations for those who decided to open depersonalized metal accounts. Quotations on them are formed by each credit institution sometimes several times a day. But in order to make the investment profitable, we need to monitor the trends of world markets. In particular, it makes sense to look through websites of news agencies, where indices are displayed for various assets, including metals.

It is also necessary to remember that the taxation on such transactions is carried out by the holder of precious metals independently. Therefore, if you bought the asset cheaper, and then sold at a profit, then the difference is to pay 13% of income tax. If the metal is owned for more than three years, then you can get a tax deduction in the amount of 0.25 million rubles.

Many seek to open depersonalized metal accounts. Gold at the time of writing this article is cheaper than its historical highs due to the global economic crisis. And this means that in the future there are prospects for an increase in the price of this asset and, consequently, profit for those who have bought this or other precious metal in a timely fashion.