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Knowledge with Atlantic Canada Metals Inc.

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:

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.

The bonded warehouse is under governmental control.

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.

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.

Can you pick up your precious metals during a crises? How?

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.

Important, please read:

The articles on this website have been composed to our best knowledge but we are not able to warranty the accuracy of any of these articles. We live in a world where change is the normalcy. Laws, regulations and conditions can change every time and can impact the accuracy of these articles. For up to date information always contact the relevant authorities or people.

These articles are no advise nor any invitation or request to buy or sell precious metals or any other products.

If you are interested in a certain topic regarding physical precious metals and you are unable to find the information you are looking for, please send us your question. We are happy to help you to find the information you need.

Thank you.