The trend of gold moving to the East has allowed investment safe-havens such as Singapore, to overshadow Switzerland‘s traditional role of being the go to gold vault option of the wealthy.
Singapore is one of the most stable countries in the world today – both politically and economically, and is emerging as the preeminent precious metals trading hub in Asia.
In 2012 Singapore’s government has repealed a 7% tax on specific gold and silver bullion products, giving investors the option to hold physical bullion without costly value added taxes. Singapore controls roughly 2% of global gold demand and aims to grow that share to some 10% to 15% over the next five to 10 years.
The Singapore FreePort – a 25,000 sqm facility – adds momentum to Singapore’s development strategy. Modeled on Swiss free ports, this is the only high-security climate-controlled storage facility and sole freeport in Asia. Located next to Changi Airport, Singapore Free- Port is a high-security, state-of-the-art storage facility which operates in its own duty-free zone.
Singapore is one of the best places in the world to store gold. Prices are competitive, with ultra-low premiums and very reasonable storage costs, regulation is minimal, corruption is low, and the tax structure is very friendly to businesses and investors.
Key Benefits of Storing Gold in Singapore:
– Favourable tax treatment
– Leading storage providers
– Pools of liquidity
– Excellent physical infrastructure
– Good reputation as a secure shelter for the storage of wealth
– Low crime rate and political stability