Singapore - no Vat/Tax - no storage fees.
Unless you have a need for having all your silver and gold readily at hand, you may want to store it in a safety vault. As capital control is increasing every day, in both EU and US, you may want to consider buying and storaging your silver and gold outside your own continent, for unrestricted transfer and selling in the future.
As of October 1, 2012, “investment grade” bullion is now tax-free. That means gold Maple Leafs, Philharmonics, Buffalos, gold bars, and most silver products are now exempt from tax when buying or selling.
Singapore is now regarded as one of the most safe and investor friendly nations in the world, where investors and Western banks, like UBS, ANZ and Deutche Bank now prefer to store silver and gold. Whereas Singapore now holds between 1-2% of the world’s bullion, authorities here have made it their goal to achieve 10% of that pie within just five years. That’s a six-fold increase.
Singapore has also made it easy to get your gold into and out of the country. Customs doesn’t even require to know the beneficial owner of your precious metals when they pass through the airport. Try pulling that off in a place like the United States.
One very reliable company is BullionStar which we have been buying from personally several times. They store the metals you purchase from them, for minimum two years, absolutely free. They have their own vault facility in Singapore, where each customer’s segragated purchases are stored in their own sealed bag. And none of the bags contain name identification of the owner. Your account details are also secure, as Singapore has some of the strictest privacy laws in the world and BullionStar does not reveal your identity to anyone.
What’s most exciting about BullionStar is not only that they’ll store any gold or silver your purchase from them for free for the first two years (they claim to hope to keep it free forever), but that they’ll do it no matter how litlle you buy. I have been dealing with the manager Zane Lim, who says he has a number of customers buying less than $100 worth of metals. He says the company is happy to store even the smallest of purchases to give investors a taste of offshore silver and gold storage. If you have a limited amount to invest, or just want to dip your toe in with storing gold out of your own country, this may be a very attractive option to you.
BullionStar's solution for storage is called My Vault. When storing bullion in My Vault, you are in control and can buy, sell or withdraw your physical bullion at any time. You can place orders online and trade your physical bullion in a matter of seconds. You will always have full direct legal ownership of all segregated bullion.
- Trade Vault Grams online (any amount of grams, at very low premium)