5 Best Offshore Gold Vault Locations in the World
With increasing technology and globalization, everyone nowadays has access to the internet, which can help you with many things. One benefit of the internet is that it has made people more financially aware and responsible because they can easily access information anywhere in the world. With greater financial awareness, people also invest their money because of economic uncertainty.
One of the most popular investment options these days to hedge against inflation are precious metals like gold. People can buy precious metals from dealers all over the world who can ship them to their doorstep. However, people no longer want to store their precious metals at home. Nowadays, people look to securely store their precious metals in offshore storage accounts. This is because there are a lot of benefits to keeping your precious metals in offshore accounts.
If you’re wondering which offshore vaults are the best to store your gold in, let’s take a look at them in this blog.
Switzerland is widely regarded as one of the safest locations, which is why it’s natural the majority of people want to store their wealth or precious metals there. Currently, Switzerland has the highest per capita gold reserves in the world.
Switzerland is a country that maintains neutrality in conflicts worldwide and has a good relationship with almost every country, especially the neighboring countries, making it safe and stable in terms of political matters. This makes it an ideal location for investors looking to store their investments in a safe country.
Singapore is another very popular location where investors usually store their gold. The country offers some of the most secure vaults worldwide. Singapore also has friendly ties with almost all countries in the world and doesn’t interfere in political conflicts. Moreover, it has Malaysia as its neighbor—which is also a very peaceful country—eliminating any threat of political instability.
Singapore also encourages and facilitates foreign nationals to open local accounts that allow easier movement of assets, including precious metals like gold. These, coupled with other storage innovations, make Singapore one of the ideal locations for investments, and experts predict it’s going to be the next wealth hub in the world.
New Zealand is another country where investors usually open offshore accounts and store their wealth, including precious metals. One of the advantages New Zealand has over countries like Singapore and Switzerland is that their local language is English, making it easier for people to communicate.
The geographical location of New Zealand is also a plus because it’s an isolated island with only Australia near it. Australia is not politically involved in conflicts around the world, just like New Zealand, making it a politically stable place and free of any threat from the outside.
Austria is another location that is potentially one of the safest locations to store gold. Recently, Switzerland has relaxed some of its financial privacy laws, which have forced investors to look for other options to store their gold. If you want to look elsewhere in Europe, Austria is a good candidate.
Austria pays importance to financial privacy and has strict laws to protect the wealth and assets stored there. Moreover, the country is relatively safer and politically stable compared to other countries. However, the storage options are a bit more expensive compared to locations like Switzerland and Singapore.
The Cayman Islands
The Cayman Islands are one of the most popular investment locations in the Americas because of their close proximity to the United States and Canada. However, vault storage rates are quite high in the Cayman Islands, so investors are reluctant to store their precious metals here.
Nevertheless, the place is very secure and politically stable, making it an option if you don’t want to go to other continents.
Offshore options may be good, but having offshore accounts can be expensive and is not the most liquid option. If you prefer keeping your gold in the United States, reach out to the team at Orion Metal Exchange.
We are a trusted precious metal investment company in the US. Not only do we help you buy precious metals like gold for investment purposes, we also help you open storage accounts for gold with either DDSC (Delaware Deposit Service Company) or Brinks. We also help people set up their precious metals IRA. Get in touch with us at 1-800-559-0088 now for more details.