Live Metal Prices / oz
Gold: 2497.53 EUR
Silver: 29.44 EUR
Platinum: 879.43 EUR
Palladium: 910.23 EUR
Rhodium: 4593.54 EUR

The Benefits of Storing Gold and Silver Bars in Switzerland

Buying gold and silver bars and storing them is a popular form of investment. If you are looking to invest or build a portfolio, consider investing in gold or silver bars. It should be noted that the prices of gold and other precious metals are inversely proportional to the stock market. This means that if the stock market is in a recession in your country, the prices of gold and silver will go up, and vice versa.

Once you have decided to invest in gold or silvers bars, you have an additional option of storing the metal. Storing gold or silver in another country is known as offshoring and it is similar to holding an offshore bank account without the reporting requirements that apply to banks. Storing gold or silver bars holds its own advantages, and Switzerland is one country that is world renowned for being one of the best choices available. Gold and other precious metals are becoming a more favored investment option and Switzerland could be your best choice for offshore gold storage. Let’s look at why Switzerland is regarded as such a good option.

Self-establishment

Switzerland has not become one of the best choices for storing bullion overnight. The country has proven to be a safe and secure place for investors to store their precious metals time and time again. Switzerland has a financial system for its own citizens that includes secure gold storage. This has allowed many overseas investors the opportunity to store their bullion in a secure environment. Overall, the country is set up for the storage of precious metals, with laws that favor discretion and privacy of the investor. What makes Switzerland the best option for many investors is its long-standing, reliable history.

Political stability

Political stability in any country is a valuable factor which contributes greatly to all businesses operating in it. If the country does not operate under a stable government and there is constant unrest, all businesses are negatively impacted. Switzerland, on the other hand, has long been known for its outstanding political stability that allows for there to be a general sense of security. Local and offshore investors are more willing to store precious metals in the country because of the financial guarantee they receive resulting from the stable government. Laws are long-term and stable, and investors can rely on them.

Lesser restrictions and tax

For citizens of the EU, investing in to platinum, palladium, silver and rhodium can be an expensive choice, especially if bullion is delivered. EU laws charge VAT on these four metals at a rate of approximately 20%. This is a lot of money to pay on top of an investment. For citizens of these countries, precious metals storage in Switzerland is a more favorable option. As the metal has not yet been delivered, there is no VAT payable. Bullion storage fees start at 0.5% annually, and European clients have the added benefit of being able to collect their bullion in person should they so wish.

Privacy and Discretion

Finally, it should be mentioned that precious metals companies such as SuisseGold.com are not licensed banks, and therefore are not required to adhere to banking regulations, including the disclosure of account details for tax purposes.  

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