If you are going to look into offshore gold storage then you want to take into consideration several factors but certainly one of the most important is the country risk associated with where the gold will be stored.
Now, if you are going to open an account with BullionVault or GoldMoney, you will have some choices as to what country to store the gold in but you will never have to travel there.
If your offshore gold storage is for physical, allocated gold that you are going to deliver or at least show up in person to open the account or rent the box then the first factor to consider is probably your ability to get there.
But after that, you need to consider the jurisdiction risk associated with the country you decide to store your gold in.
The information below is pretty much in regard to U.S. Citizens as, quite frankly, those are the people who are only recently (in most cases) waking up to the need to buy gold in the first place and secondarily, understanding the need to store gold offshore.
Other countries citizens have known this for a long time. Americans, it can be said, have been spoiled for a long time; that spoiling is ending though as desperate politicians who are not willing to erect physical fences to protect America’s borders are more than willing to erect virtual fences to prevent their citizens from true freedom of travel and financial choices.
Country Risk For Offshore Gold Storage
| Country | Cost | Rule Of Law | Influenced By | Stability | Taxes/VAT |
|---|---|---|---|---|---|
| Switzerland | High | Very Good | Low, but rising US? | Very Good | VAT Free Zones |
| Austria | High | Very Good | Low from US | Good | VAT Free on Gold |
| Australia | Medium | Good | Low from US | Good | No VAT on Bullion |
| Singapore | Medium | OK | Low | Good | 7% GST, Free Zones? |
| Canada | Low | Good | High from US | Good | None on Bullion |
| Hong Kong | Medium | OK | High from China | Medium | None |
| Dubai | Medium | OK | Low | Low to Medium | None |
| Panama | Low | OK | High from US | Low to Medium | Small Fee |
| Uruguay | Medium | OK | Low | Good | None |
| USA | Low | OK for non-US persons | N/A | Medium | None (Yet) |
Offshore Gold Storage Options
GoldSilver
GoldSilver.com will sell you gold and silver coins at reasonable prices and either deliver them to you or offer segregated, insured, even offshore storage of gold and silver in the following locations: Hong Kong, Vancouver, and in the U.S., Miami and Salt Lake City.
GoldSilver.com was founded by the very popular speaker Mike Maloney.
BullionVault
BullionVault offers gold and silver (not coins) at very competitive prices and non-segregated storage and very reasonable prices. While you can take delivery for a specified fee, that is not their strength and company focus. Secure storage is offered in Zurich (Switzerland), London (U.K.) and New York (USA).
While the U.K. is not in the chart above we would equate it to being as undesirable as gold storage in the U.S.
GoldMoney
GoldMoney is another highly respected firm similar to BullionVault where again you can acquire gold, silver even platinum and palladium at reasonable prices and have them store it in secure, non-segregated (other than for large holdings) offshore vaults.
GoldMoney offers the secure storage at locations in Zurich (Switzerland), London (U.K.), and Hong Kong. Again, we do not personally recommend London. Palladium storage is only available in Hong Kong and Platinum only in Hong Kong and Zurich.
