5 Best Offshore Gold Vault Locations in the World
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Thanks to recent technological advancements, buying gold is easier than ever. Gold dealers are ready and willing to sell bullions and bars online and also ship them to your door.
There’s an abundance of dealers and gold shops are found everywhere you go. The real challenge is where to store your precious metal once you have it.
Some people might store it underneath the closet or bury it in their backyards.
Smarter ones might purchase a bank vault to protect their assets from theft. The smartest investor, however, knows that the best option of storing gold lies beyond the shores.
Offshore precious metal storage provides several advantages and is the ideal choice for storing precious metals.
To enable our readers to make sound financial decisions, in this blog, we’ll go over the 5 best offshore gold vault locations in the world.
According to Forbes, Switzerland possesses the largest gold reserves per capita in the world. The country has an established reputation as an ideal location for storing precious metals.
Its neutrality on the global stage coupled with friendly ties with almost every country imaginable eliminates the risk of political instability.
Despite being old school, many investors are now choosing to store their gold in places like Singapore or Hong Kong.
The primary reason for this shift is the lack of flexibility when it comes to managing your assets coupled with the decreasing quality of customer service.
Despite these drawbacks, Switzerland remains an ideal place to store gold owing to a lack of currency restrictions.
Investors are slowly coming to a consensus that Singapore offers the best vaults in the world. The small country is also a good storage location due to its independence and security.
Having Malaysia as a direct neighbor, Singapore doesn’t face any military threats and offers geographic advantages on par with places like New Zealand. In terms of innovation within the gold storage industry, Singapore has no equal.
Singapore is also a breath of fresh air because it moves away from the European wealth management philosophies.
Whereas the former encourages a latent approach to storage, Singapore encourages the financial movement of assets and facilitates foreigners to open accounts locally.
Asian banks, in general, love transactions, which is why Singapore is on its way to becoming the next global wealth hub.
Being a common law country and having English as its native language make New Zealand another ideal country for gold storage.
While New Zealand may not offer the same standard of storage vaults as compared to Singapore, the country’s wealth-friendly approach earns it a spot on our list.
New Zealand’s location on the southern hemisphere, geographical isolation from other countries, and the absence of any threats make it a safe place to store your precious metals.
While the UK shares the same geographical advantages as New Zealand, investors are scared by the consequences of political unrest that have gripped the country in recent times.
A less explored yet definitely viable gold storage country is Austria. With Switzerland letting loose its privacy laws, Austria is one of the few places left inside Europe that holds financial privacy as sacred.
Although storage options aren’t exactly cheap, people can still store precious metals anonymously.
The Cayman Islands
The Cayman Islands is valued for its proximity to Canada and the U.S. You’ll have to deal with the high storage rates but other than that, the Cayman Islands is one of the safest options when it comes to international gold storage.
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