Precious metals in a bonded warehouse
Many precious metal dealer all over the world offer you cheap storage of your precious
metals in a bonded warehouse in Switzerland. On first sight this seems to be a good
solution with advantages such as no VAT on silver or platinum, cheap storage fees and
storage outside of the banking system. But if you look closer and think through the
whole process you will realize that a bonded warehouse in Switzerland is not a good
storage solution.
Before you think about storage of precious metals in a bonded warehouse you should think
about the following points:
1.
A bonded warehouse is a transit warehouse and it was set up for companies which transport
goods internationally. Instead of importing goods in a transit country which all the paperwork,
customs,fees, etc. and then the same when exporting these goods you can use these bonded
warehouses. It is easy to store your products in a bonded warehouse and later transport it
from the bonded warehouse in the destination country without much paperwork. The purpose
of a bonded warehouse is to hold goods only for a short time. If someone is storing
goods for long term they abuse the bonded warehouse.
2.
The bonded warehouse is under governmental control.
3.
Switzerland is in the process to review the status of its bonded warehouses. The pressure
from other countries is rising because they think that the bonded warehouses are used
by criminals to hide tax money and black money.
4.
Do you know the conditions when you would like to take out your precious metals from a
bonded warehouse? You probably are not allowed to pick up your precious metals yourself
and only the dealer is allowed to pick up your precious metals. How do get your
precious metals when your dealer is not available? But let us assume that you are able
to pick up your own precious metals there will be always a customs official to charge you
fees and tax. But more important is that you have to identify yourself to an
government official and your name and the products you pick up will be registered.
5.
Can you pick up your precious metals during a crises? How?
6.
A bonded warehouse is a huge storage facility with millions of products in it. During a
crises thousand of people and companies will try to get to their products but ther will
be only so many customs officials. You should plan for a very long waiting time.
In an emergency a bonded warehouse is one of the last places you want to have your
precious metals.
Now please look at some of the advantages Atlantic Canada Metals Inc. can offer you:
Canada is one of the most stable contries in the world, economically and politically.
In Canada you can buy silver and platinum without any VAT.
You can buy and sell without any official registration and without the presence of customs officials.
Buying precious metals in Canada provides you with a diversification of your wealth into
another country and perhaps another continent.
Storage outside of the banking system.
Your precious metals are fully insured.
Your precious metals will be stored in a separate, sealed container. No mixing with
other precious metals.
The customer will be the only owner, economically and legally.
the customer will receive a new statement every time the contents of his storage account changes.
Selling and pick up is possible every time.
Viewing, counting, touching and taking pictures is possible.
When you sell or pick up your precious metals in Canada there will be no taxes charged.