As geopolitical risks and increasing government debt increase, it may be prudent to strategize storing some precious metals and wealth outside your resident country. An easy way to diversify wealth is to consider offshore safe deposit boxes (SDBs) in a safe jurisdiction.
Over the past two decades, the city-state has leveraged its strategic location, robust infrastructure, and business-friendly policies to become a leading financial center and destination for gold trading, investment, and storage.
In the span of just a few decades, Singapore has orchestrated what many economists and historians deem an "economic miracle." From a modest trading post to an international metropolis, this city-state has transcended its geographical limitations to emerge as an economic powerhouse on the global stage.
Since 1 October 2012, the Singapore government has exempted the Goods and Services Tax (GST), also known as the VAT or sales tax, from bullion defined by the Inland Revenue of Singapore (IRAS) as ‘Investment Precious Metals (IPM).’
Singapore is favourable for investors in many ways. From long-term growth to wealth management, read on to learn why it is great for offshore gold storage.
Singapore is a vibrant country with even more colorful opportunities to grow your assets. It ranks number one as a leading nation in foreign direct investment (FDI) within the Asia-Pacific region and is an opportune capital for investment due to its strong currency and sturdy infrastructure.