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ID and Cash Limits for Buying Gold in Pakistan

In Pakistan a jeweller or bullion dealer must identify you, normally from your CNIC, when you pay PKR 2 million or more in cash, including linked payments for the same items. The dealer reports these cash deals to the Financial Monitoring Unit. There is no legal cap on how much cash a buyer may pay. Since July 2025, though, a seller that takes over PKR 200,000 in cash on one invoice loses half the related tax deduction, so many shops push card or bank payment.

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

At a glance

SituationRuleNotes
Buying jewellery, coins or barsID check (CDD) for cash of PKR 2 million or more.Payments below PKR 2m count if they are part of a series for the same items totalling PKR 2m+. CDD must be finished before the sale completes.
Paying cashNo legal cap for the buyer.Sellers taking over PKR 200,000 in cash on one invoice lose 50% of the related expense deduction (Finance Act 2025).
SellingSame PKR 2m cash trigger: the rules cover dealers that buy as well as sell.Bearer cheques count as cash.
ReportedCurrency transaction report to the FMU for cash of PKR 2 million or more; suspicious transactions of any amount.In October 2026 the AML committee approved raising the CTR threshold to PKR 3 million. The start date wasn't published.

The rules in detail

  • Jewellers and bullion dealers are DNFBPs under the Anti-Money Laundering Act 2010, supervised by the FBR under its AML/CFT Regulations for DNFBPs. A dealer is covered when it buys or sells precious metals or stones and has a cash transaction with a customer of PKR 2 million or more.
  • ID: residents are identified with a CNIC. Non-residents use a NICOP, POC, ARC or passport, and dealers may check details through NADRA. The dealer must also identify the beneficial owner. High-risk customers and politically exposed persons can be asked about their source of funds.
  • Cash includes bearer negotiable instruments as well as notes. Splitting a purchase into smaller cash payments for the same items doesn't avoid the PKR 2m test.
  • Reports go to the FMU through goAML: currency transaction reports for cash of PKR 2m or more, and suspicious transaction reports of any amount. Records are kept for at least five years.
  • SRO 1439(I)/2026 (August 2026) renamed "jewellers" in the regulations as dealers in precious metals and stones (DPMS). It now names bullion dealers and stone-set items explicitly, with the PKR 2m cash test unchanged.
  • Sales tax: jewellers must be linked to the FBR point-of-sale system, and the FBR has sealed shops that weren't. Ask for the FBR-integrated invoice.

When you sell

  • For a cash deal of PKR 2 million or more, expect to show your CNIC and answer source-of-funds questions.
  • The dealer can pay you in cash or by bank transfer; no legal limit on paying a seller in cash was found.
  • No withholding tax on a private sale of gold to a jeweller was found.

Silver and travel

  • The AML rules cover dealers in precious metals and stones. The August 2026 definition names gold, platinum and diamonds, so how it treats silver-only dealers is unclear.
  • Carrying gold or cash across the border falls under customs and State Bank rules. See the travel-allowance page.
These points come from news reports rather than gazette text: the August 2026 SRO (reported by PKRevenue) and the October 2026 decision to raise the cash-reporting threshold to PKR 3 million (reported by Dawn; the report names banks and financial institutions). Until the new threshold is gazetted, dealers should keep reporting at PKR 2 million. The old sales-tax rule requiring a buyer's CNIC for purchases over PKR 100,000 was removed in the 2022 budget.
ID and cash limits 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 · Bangladesh · Nepal · Sri Lanka · China · Hong Kong · Japan · South Korea · Singapore · Malaysia · Thailand · Vietnam · Indonesia · Philippines · Australia · New Zealand · all countries
See also: Gold price in Pakistan · Tax on selling gold in Pakistan · VAT on gold in Pakistan · Gold travel allowance · Silver rules in Pakistan

Gold ID and Cash Limits in Pakistan: FAQ

Do I need my CNIC to buy gold in Pakistan?

A dealer must identify you when you pay PKR 2 million or more in cash, including linked payments for the same items. Many shops ask for a CNIC anyway, but below that amount no rule requires it.

Is there a limit on paying cash for gold in Pakistan?

There is no legal cap for the buyer. Since July 2025, a seller that takes more than PKR 200,000 in cash on one invoice loses half the related business expense deduction, so jewellers may prefer card or bank payment.

Do jewellers report cash purchases to the FBR?

Cash transactions of PKR 2 million or more are reported to the Financial Monitoring Unit as currency transaction reports. Suspicious transactions are reported at any amount. An increase of the reporting threshold to PKR 3 million was approved in October 2026.

Sources (6)

General information for individuals buying or selling gold, 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.