Every Rolex is assigned a three-digit country code identifying the market it was originally sold in. You'll find it on the guarantee certificate, stamped on earlier examples and printed on later ones. It's a small thing, but a useful one: papers are worth real money now, which means they get married to watches they never came with. If the code doesn't fit the watch in front of you, that's a thread worth pulling.
Two gaps to expect. Certificates issued in the USA carry no country code at all, and codes are rarely seen on paperwork from the 1970s and earlier. In both cases the absence tells you nothing, so don't read it as a red flag.
The table below is a work in progress and I'd like to keep improving it. If you have a certificate with a code that isn't listed here, or one that contradicts what is, please get in touch and tell me what you're looking at. That's how these charts get built.
Code – Country
010 – Switzerland
012 – Switzerland
013 – Switzerland
014 – Switzerland
015 – Switzerland
017 – Switzerland
021 – Switzerland
022 – Switzerland
023 – Switzerland
024 – Switzerland
025 – Switzerland
026 – Switzerland
027 – Switzerland
028 – Switzerland
031 – Switzerland
032 – Switzerland
033 – Switzerland
036 – Liechtenstein
037 – Switzerland
039 – Switzerland
044 – Switzerland
045 – Switzerland
061 – Switzerland
062 – Switzerland
100 – Germany
110 – France
112 – France
113 – France
114 – France
119 – Comex (France)
120 – Austria
121 – Austria
122 – Austria
123 – Austria
124 – Austria
125 – Austria
126 – Austria
127 – Austria
128 – Austria
130 – Belgium/Luxembourg
133 – Netherlands
134 – Netherlands
135 – Netherlands
136 – Netherlands
137 – Netherlands
138 – Netherlands
150 – Spain
160 – UK & Ireland
170 – Italy
181 – Italy
185 – Italy
189 – Italy
200 – Greece
201 – Malta
202 – Turkey
204 – Italy
205 – Cyprus
207 – Corfu
208 – Greece
210 – Portugal
212 – Portugal
213 – Portugal
215 – Portugal
216 – Portugal
217 – Portugal
218 – Portugal
226 – Denmark
228 – Denmark
231 – Denmark
233 – Denmark
235 – Denmark
236 – Finland
237 – Iceland
241 – Norway
242 – Norway
243 – Norway
246 – Norway
253 – Norway
262 – Sweden
265 – Sweden
267 – Sweden
268 – Sweden
270 – Sweden
271 – Sweden
272 – Sweden
273 – Sweden
283 – Finland
284 – Norway
286 – Finland
291 – Finland
296 – Finland
298 – Finland
311 – Poland
312 – Poland
317 – Bulgaria
318 – Slovakia
320 – Czech Republic
321 – Czech Republic
322 – Hungary
323 – Slovenia
325 – Serbia Montenegro
330 – Russia
381 – Turkey
385 – Turkey
400 – Hong Kong
402 – Guam
408 – Seoul
410 – Japan
413 – Korea
430 – Singapore/Brunei/Indonesia
431 – Malaysia/Thailand
440 – Taiwan
500 – India
501 – India
507 – India
505 – Pakistan
513 – Nepal
514 – Bangladesh
516 – Nepal
526 – Bahrain
527 – Middle East
529 – Saudi Arabia
531 – Saudi Arabia
532 – Saudi Arabia
533 – Kuwait
535 – Qatar
536 – Abu Dhabi
537 – Dubai
538 – Oman
539 – Oman
542 – Iran
548 – Israel
551 – Yemen
565 – India
573 – India
578 – India
581 – Pakistan
595 – India
601 – Morocco
602 – Morocco
605 – Tunisia
612 – Egypt
634 – Congo
655 – Mauritius
668 – Kenya
680 – South Africa
700 – Canada
710 – USA
720 – Mexico
722 – Mexico
733 – Honduras
737 – Costa Rica
741 – Bahamas
742 – Bermuda
752 – Jamaica
754 – Cuba
756 – Dominican Republic
757 – Caribbean Islands
758 – Virgin Islands
759 – Turks Islands
760 – Barbados
761 – Netherlands Antilles/Aruba
762 – Aruba
763 – Saint Lucia
764 – Guadeloupe
765 – Antigua
766 – Saint Martin
767 – Cayman Islands
768 – Panama
770 – Venezuela
780 – Brazil
781 – Chile
786 – Bolivia
790 – Argentina
801 – China
802 – China
803 – China
810 – Australia/New Zealand
818 – Philippines
828 – Taiwan
838 – China
842 – New Zealand
871 – Hawaii
872 – Alaska
873 – Guam
874 – Hong Kong
875 – Venezuela
888 – Hong Kong
900 – Japan
902 – AAFES, Germany
905 – AFSOUTH, Italy
906 – Natex Retail, German NATO Airbase
907 – Rheindalen, German NATO Headquarter