Once you have made the decision that it makes sense to hold own physical gold the next question is whether you need to secure the gold within your residence country or offshore in an overseas vault.
After you make the decision to store gold offshore, the next point of your examination is what jurisdiction would you like to store your gold.
At this time there are two notable jurisdictions for precious metal safe-keeping - Singapore and Switzerland.
Although some people store precious metal in Panama or have a safety deposit box in Punta Del Este or perhaps a variety of jurisdictions around the world, the two main overseas gold storage space facilities tend to be Singapore and Switzerland. Singapore is the new kid on the block while people have been storing assets in Switzerland for hundreds of years.
In essence, Singapore stores the gold holdings for Asian investors and Switzerland stores the gold for Europeans, Africans and Americans.
For nearly 500 years Switzerland has been a banking center. The nation gained independence in 1648, if the Treaty of Westphalia recognized the final separation of Switzerland from the Habsburg Empire.
As money was previously supported by gold stored at a bank, the Swiss have a lengthy and illustrious background with gold storage.
Switzerland has a stable political system which is renowned for neutrality. The nation is famous for financial steadiness with positive trade & current account balance. The government runs a balanced budget which is in stark contrast to the United States and most European nations. In addition, the country has low inflation rates.
The only real black mark for Switzerland as a gold safe-keeping jurisdiction is that there have been some banking institutions which were on unstable ground during the the 2008 financial crisis. Both UBS and Credit Suisse required government bailouts. UBS was supplied with immeasureable fresh capital through the government and received the choice to transfer up to $60bn of distressed assets to a fund backed up by the Swiss central bank.
Singapore
Singapore is a huge modern day success story as the island has transformed itself from a ugly backwater to a present day economic goliath.
Singapore was more insulated from the economic crisis in 2008. Singaporean banking institutions did not invest in CDO's or any other mortgage related derivative products.
It should be noted that Singapore has never experienced a bank failure and most banks are conservatively capitalized.
The primary gold storage option in Singapore may be the Freeport facility located by the Changi Airport terminal.
The 270,000-square-foot facility was designed by Swiss security experts and it is essentially an artistic bunker. The Singapore facility differs from the Swiss facilities in that there is more style.
The other main option in Singapore is Certis Cisco which rents modest safety deposit boxes.
After you make the decision to store gold offshore, the next point of your examination is what jurisdiction would you like to store your gold.
At this time there are two notable jurisdictions for precious metal safe-keeping - Singapore and Switzerland.
Although some people store precious metal in Panama or have a safety deposit box in Punta Del Este or perhaps a variety of jurisdictions around the world, the two main overseas gold storage space facilities tend to be Singapore and Switzerland. Singapore is the new kid on the block while people have been storing assets in Switzerland for hundreds of years.
In essence, Singapore stores the gold holdings for Asian investors and Switzerland stores the gold for Europeans, Africans and Americans.
For nearly 500 years Switzerland has been a banking center. The nation gained independence in 1648, if the Treaty of Westphalia recognized the final separation of Switzerland from the Habsburg Empire.
As money was previously supported by gold stored at a bank, the Swiss have a lengthy and illustrious background with gold storage.
Switzerland has a stable political system which is renowned for neutrality. The nation is famous for financial steadiness with positive trade & current account balance. The government runs a balanced budget which is in stark contrast to the United States and most European nations. In addition, the country has low inflation rates.
The only real black mark for Switzerland as a gold safe-keeping jurisdiction is that there have been some banking institutions which were on unstable ground during the the 2008 financial crisis. Both UBS and Credit Suisse required government bailouts. UBS was supplied with immeasureable fresh capital through the government and received the choice to transfer up to $60bn of distressed assets to a fund backed up by the Swiss central bank.
Singapore
Singapore is a huge modern day success story as the island has transformed itself from a ugly backwater to a present day economic goliath.
Singapore was more insulated from the economic crisis in 2008. Singaporean banking institutions did not invest in CDO's or any other mortgage related derivative products.
It should be noted that Singapore has never experienced a bank failure and most banks are conservatively capitalized.
The primary gold storage option in Singapore may be the Freeport facility located by the Changi Airport terminal.
The 270,000-square-foot facility was designed by Swiss security experts and it is essentially an artistic bunker. The Singapore facility differs from the Swiss facilities in that there is more style.
The other main option in Singapore is Certis Cisco which rents modest safety deposit boxes.
SHARE
