Forget Dubai! The cheapest gold is available in this neighboring country of India, there will be bumper savings on 2 tola necklace.

Cheapest Gold Country: Whenever it comes to buying the cheapest and purest gold in the world, the first name that comes to people’s mind is Dubai. But do you know that there are some places in the world where gold is available at very affordable prices, under rules that are easier than Dubai or at prices close to that? If you are going on a foreign trip and want to get a beautiful 2 tola (ie about 20-22 grams) gold necklace made for your wife or mother, then you must understand the mathematics of some countries. Let us know in which countries of the world the cheapest gold is available and how much would a 2 tola necklace cost there.

Why is gold so cheap in Hong Kong?

Hong Kong’s name always remains at the top positions in the list of countries selling cheap gold. Hong Kong is considered to be the safest and most affordable market in the world for shopping for gold. The biggest reason behind this is that the Hong Kong government does not charge any kind of VAT or tax on the import of gold.

Due to being completely tax free, the base rate of gold here is the lowest in the international market. If you travel to Hong Kong at this time and get a beautiful two tola gold necklace made from a good jewelery showroom there, then including the making charges and the price of gold, your total budget will easily come between Rs 3,15,000 to Rs 3,50,000.

This neighboring country of India is giving competition to Hong Kong

To buy cheap gold, you do not need to go across the seven seas to Hong Kong or any western country. For this you can visit Bhutan, a very beautiful, peaceful and neighboring country of India. The Bhutan government imposes nominal import duty on gold and no additional tax is levied on the purchase of gold even in the local markets.

Buying gold from Bhutan proves to be a big profitable deal for Indian tourists for another reason. In fact, Bhutan’s currency, which is called ‘Ngultrum’, has exactly the same value as the Indian Rupee. That means there you do not have to worry about currency exchange losses. If you want to buy a two tola gold necklace from a market in Bhutan, then adding the low gold rates and making charges, this jewelery can be completely ready for around Rs 2,95,000 to Rs 3,25,000.

There is tough bargaining on making charges in Dubai

Dubai, known as the ‘City of Gold’ across the world, has always been the first choice for Indian and foreign buyers. In Dubai, only a nominal VAT of 5 percent is charged on gold, and the special thing is that foreign tourists can also get the refund of this tourist tax from the counters installed at the airport.

Due to thousands of shops in huge markets like the famous ‘Dera Gold Souk’ of Dubai, there is strong competition among the shopkeepers. This directly benefits the customers and you can bargain hard on the making charges. According to Dubai rates, if you get a two tola necklace made in 22 carat gold, then its total cost including tax and making charges comes to around Rs 2,90,000 to Rs 3,20,000.

Also know the strict rules for bringing foreign gold to India

Even though it is very tempting to shop for gold in foreign markets after hearing about its low prices and huge savings, but before bringing that gold to India, you should have complete knowledge of the customs rules of your country, otherwise you can get into big trouble.

According to the current rules of the Government of India, any Indian tourist can bring gold from abroad to India only within a certain limit. If you are buying a two tola necklace from abroad, then under the rules, Indian male tourists can bring only gold up to 20 grams (about 2 tolas) with them to India duty free (without paying tax).

At the same time, Indian women tourists have been given a little more relaxation by the government. Women can easily bring gold up to 40 grams (about 4 tola) from abroad to India without any custom duty. Therefore, remember that if you land at an Indian airport with gold in excess of this legal limit, you may have to pay heavy custom duty to the customs department there.