International money transfer guide for wine and spirits

If you are planning to buy or invest in wine or spirits from overseas, there are certain issues to take into account. In this international money transfer guide, we will focus mainly on overseas fine wine investments although there are certain high end spirits that can be invested in as well. Wine investment should be seen as a long term investment opportunity, not something for making short term flips.

To invest or to drink

The first question to ask when buying wine or spirits is whether you plan to buy them for personal consumption or whether they are for investment. Very different wines and a much smaller group of wines are suitable for investment compared to the large selection of drinking wines. Wines suitable for investment are typically much more expensive and much less likely to be drunk.

How to invest in wine

There are several ways you could approach wine investing

Storage of investment grade wine

It is essential that wine bought for investment is stored in a bonded temperature controlled warehouse. The price of the warehousing should also include insurance of the wine.

Tax implications of wine investment

If you choose to take the wine out of storage, and it is in the UK, it may lead to VAT being charged. In other territories, it is also worth checking whether changing the wine from investment to drinking also has any tax implications.

Purchasing wine from overseas

If you are purchasing the wine from overseas, consider using a money transfer provider as listed on our site. They are familiar with sending money for wine investments and larger personal wine purchases. The savings made compared to using your bank can be put towards purchasing extra wine, to drink or to invest! Wine investing is a risky activity and be sure to take professional advice before making any purchases.