ID and Cash Limits for Buying Silver in Hong Kong

Since 1 April 2023, only a Category B registered dealer may carry out a cash transaction of HK$120,000 or more in precious metals (silver included), stones or jewellery in Hong Kong, and it must check and copy your Hong Kong ID card or passport. There is no cap on paying cash, card and bank-transfer payments don't trigger the ID check, and local dealers don't file routine cash reports.

Facts checked 31 October 2026 · Not financial, legal or tax advice

At a glance

Situation	Rule	Notes
Buying	ID check and copy for a cash transaction of HK$120,000 or more.	Applies to a single deal or a series of linked deals.
Paying cash	No legal cap, but only Category B registrants may take HK$120,000+ in cash.	Customs treats 'cash' as banknotes and coins; cheques, cards and transfers don't count.
Selling	Same rule when the dealer pays you HK$120,000 or more in cash.	The regime covers dealers both making and receiving payments.
Reported	No routine cash report by Hong Kong dealers.	Only overseas dealers trading here temporarily must file cash transaction reports with Customs.

The rules in detail

The Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) has covered dealers in precious metals and stones since 1 April 2023, under a registration regime run by the Customs and Excise Department. Silver is one of the listed precious metals.
Category A dealers may only do non-cash deals of HK$120,000 or more. Category B dealers may also take cash, and are supervised for anti-money laundering.
For a cash transaction of HK$120,000 or more (single or linked), a Category B dealer must carry out customer due diligence under Schedule 2: identify and verify you from an ID card, passport or travel document, keep a copy, and keep records for at least five years.
Cash deals below HK$120,000, and non-cash deals of any size, don't trigger these checks.
Jewellery and watches count when at least 50% of the price comes from precious metal or stones, so a silver piece priced mainly for its design or workmanship may fall outside.
A dealer doing HK$120,000+ cash deals without Category B registration faces a fine of up to HK$100,000 and six months' jail; Customs has prosecuted cases in 2025.

When you sell

A dealer buying your silver for HK$120,000 or more in cash must be Category B registered and must check your ID.
Take a bank transfer and the cash rules don't apply.

Gold and travel

Gold, platinum, palladium, rhodium, iridium, osmium and ruthenium are covered by the same HK$120,000 rule. No change to the threshold was found for 2025 or 2026.
Travellers must declare cash over HK$120,000 at the border.

Two points come from general Hong Kong law rather than the sources below: the border declaration of cash over HK$120,000, and the duty on anyone who suspects money laundering to report it to the Joint Financial Intelligence Unit.

ID and cash limits for silver in other countries: United States · Canada · Mexico · Brazil · United Kingdom · Ireland · Germany · France · Italy · Netherlands · Switzerland · Turkey · UAE · Saudi Arabia · Kuwait · Qatar · Bahrain · Oman · Egypt · South Africa · India · Pakistan · Bangladesh · Nepal · Sri Lanka · China · Japan · South Korea · Singapore · Malaysia · Thailand · Vietnam · Indonesia · Philippines · Australia · New Zealand · all countries

Silver ID and Cash Limits in Hong Kong: FAQ

Do I need ID to buy silver in Hong Kong?

Only if you pay HK$120,000 or more in cash, in one deal or linked deals. The dealer must then check and copy your Hong Kong ID card or passport.

Is there a cash limit for buying silver in Hong Kong?

No legal cap. But for HK$120,000 or more in cash the dealer must be a Category B registrant and must check your ID.

Does paying by card avoid the ID check?

Yes. The checks apply to cash transactions only, and Customs treats cash as banknotes and coins.

Sources (5)

General information for individuals buying or selling silver, checked October 2026. Rules change and dealers may ask for more than the legal minimum; check with the dealer or the regulator. Not legal advice.