Question

What does it mean that I own my gold fully?

Answer

It means that you are the legal owner of the gold you have acquired through Voima's service and that the gold is not on Voima's balance sheet.

The fact that the gold is not on Voima's balance sheet means that your gold would not be compromised even in the extreme case of Voima's bankruptcy.

The gold is owned by you: you can let it rest on the account, you can exchange euros for gold or vice versa, you can take credit against it and so on. Finally, you can always withdraw your gold either as physical bars or euros, depending on how much gold you own. Currently, you can withdraw the following bar sizes: 100 g, 1 kg and 12.5 kg.

Related questions

  • Am I liable to pay tax for any capital gains when I sell my gold?

    Yes, if you are liable to pay taxes in Finland. In other cases, you should consult your local tax authorities for the answer.

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  • Can you get gold anonymously?

    No. Voima requires that each Customer is identified in order to ensure the provision of safe services and to comply with AML/CFT legislation.

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  • Do Voima's Customers own pure gold?

    Yes. The Customers' gold is investment grade, with a purity of at least 99.99%.

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  • Are Customer assets segregated from Voima's balance sheet?

    Yes. This means that the Customers' gold is not owned by Voima but rather by the Customers themselves.

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  • Where does Voima store gold?

    The majority is stored in Helsinki and the rest is at Voima's gold accounts opened at its Swiss and British trading partners.

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  • I am concerned about the price of gold dropping. Should not gold store its value?

    Although its price can fluctuate in the short term, gold has been valued throughout millennia, thus outperforming many official currencies.

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  • Why do I need to take a picture of my face and ID?

    This is a security measure intended to ensure that it is indeed you who is opening the account, and not someone who has happened to come across your ID.

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  • Does Voima submit the Customer's tax information to the Finnish Tax Administration if the Customer so requests?

    No. Voima submits information to the Finnish Tax Administration only in accordance with the legal requirements. Thus, no information is submitted automatically or by Customers' requests. Rather, the person liable to pay taxes is responsible for submitting their own information to the tax authorities.

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  • Can I withdraw my gold?

    Yes. You can withdraw the gold either as 99.99% pure gold bars or by exchanging the gold for euros and transferring them to your bank account.

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  • How can I see the price of gold?

    By logging in to your Voima Account.

    Voima's price of gold is indicated in euros per gram. However, Voima accepts all currencies accepted by its primary banking partner, OP. Please note that since OP exchanges all the currencies for euros upon reception, additional conversion fees might apply.

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