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Top Vault Storage Solutions for Storing Gold in Singapore: Secure Your Wealth

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There are several secure vault storage options available in Singapore for storing gold and other valuable assets. One of the top solutions is SAFA Safe House, which has high-security underground vaults located discreetly across the island. 

They offer vault storage in a variety of box sizes to suit different volume needs. Swiss Safes Private Limited also has a very secure facility with state-of-the-art access controls and biometric identification. BullionStar is another reputable provider with climate-controlled class 10 clean rooms for maximum preservation of gold bars and coins. They use cameras, motion detectors and armed guards for protection. 

Individuals and businesses can choose from monthly or annual plans for flexible storage periods. All of these providers aim to keep client gold completely safe and accessible when required with their advanced security and access features. In this article we’ll discuss more interesting things about it.

Why Store Gold in Singapore?

Singapore is one of the most secure places in the world. It has low crime rates and corruption. This makes it a good place to do business. A report ranked Singapore first for business in 2023. Foreign investors trust Singapore's financial system. The government supports investing in gold and silver. They will not take people's precious metals even during an economic crisis. The government protects private property, like bullion.

People can import gold without paying taxes. Companies that store gold in Singapore are not financial institutions. They do not have the same rules as banks. Singapore's military can defend the country. They spend a lot on defense, more than nearby countries. Singapore also makes weapons and works with other countries. It exports military equipment around the world.

Storing in Private Gold Vaults VS. Bank Vaults

Gold storage in bank vaults is not without risk. Banks can crumple, like Lehman Brothers in 2008. Governments can take gold, like in 1933 in the USA. Some banks listen to other countries, not local laws. This could cause problems. Banks that work in other places may give gold to those governments.

You need to own the gold, not just have paper for it. The best is separate gold in your name. Private vaults are better than banks. You control the gold. Banks share details with others. Private vaults are safer and insure the gold better. Banks do not always let you see or take your real gold. Private vaults are more open. They are better if you want safe gold storage.

Singapore Depository Corporation (SDC)

Singapore Depository Corporation (SDC) manages the Central Depository System in Singapore. It maintains central securities accounts for securities held in the country. SDC also operates scripless trading of shares. 

This means shares are deposited electronically in accounts without physical certificates. It streamlines trading, clearing and settlement of securities. SDC works to provide efficient services to facilitate transactions in Singapore's capital markets.

Blanchard Vault Services

  • Established in 1982, provides secure storage for valuables
  • Facilities located in Reno, Los Angeles, and Salt Lake City
  • Uses advanced security features like biometrics, guards, cameras, firewalls
  • Offers private vaults, shared lockers, and insured depository options
  • Handles logistics of transporting and insuring stored items
  • Serves high net-worth clients, families, funds, and crypto exchanges
  • Regulated in Nevada and undergoes yearly audits for compliance

Singapore Gold Storage with SWP

Singapore Wealth Preservation, also known as SWP offers gold storage in Singapore. They provide a safe and secure way to store gold. SWP stores physical gold for investors. The gold is kept in secured vaults in Singapore. Singapore has very strong law and order so the gold is protected. SWP issues gold ownership certificates as proof of gold stored. These certificates note how many grams of gold are stored. 

Investors can choose to hold the gold for the long term or sell it back to SWP when needed. Selling back is very convenient with SWP. They will arrange delivery of payment within a few days. Storage fees are low and affordable for investors. SWP has Been in business for many years and protects customers' gold very well. Many people trust SWP to store their gold investments.

Other Factors to Consider When Storing Your Gold

  • Security - How secure is the storage location? Use a bank safety deposit box or home safe.
  • Accessibility - You need to be able to access the gold when you want to. Consider storage options that allow for quick access.
  • Insurance - Make sure your gold is properly insured in case of theft or loss. Know insurance limits for storage locations.
  • Ownership - Be clear about who legally owns the gold. Make sure ownership is properly documented.
  • Costs - Consider any ongoing storage or insurance fees. Free storage may compromise security.
  • Location - Storage in your home carries the risk of loss from fire or flood. Consider an off-site bank location.
  • Form - Bars and coins are easiest to value and transport. Higher premiums may apply to collectible coins.
  • Purity - Know the purity/karat of gold items as this impacts value. Reputable sources reduce risk.
  • Documentation - Photograph and record serial numbers. Maintain verifiable purchase records.
  • Liquidation - Choose storage allowing quick and easy sale of gold if needed in the future.

Conclusion

Singapore offers several trusted vault storage solutions to safely store gold. Individuals and businesses can choose from bank vaults or private vault operators. Bank vaults provide security through their robust facilities and regular audits. Private vault operators also have strong security with monitoring and armed guards. Properly selecting a reputable provider gives peace of mind knowing your gold wealth is protected. With gold prices rising, vault storage is a smart choice to securely hold your precious gold assets in Singapore.

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