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Asset protection, Offshore Investing and Diversification are buzz words on the lips of a lot of investors who are losing faith in the US dollar and fiat currency in general. Investors are opting to spend their money offshore, but in doing so like the peace of mind that the product they have invested in is safe, secure and tangible.
Swissmetal Inc. (SMI) stores the clients’ metal assets physically in two highly secure storage facilities within Duty Free Zones located in Zurich, Switzerland, and Panama City, Panama, which can be viewed at any time by the holder.
Both vault facilities offer clients secure and independent storage in high-security bonded warehouses, ultra modern alarm systems with direct link to the police, complete with movement and vibration reporting units. No movements of goods are possible without intervention by customs and access to the storage facilities is only possible together with three (3) authorized persons. Bonded warehouses offer clients excellent benefits being, no levies such as customs or VAT, no time limit for storage, monitoring by customs authority, safe facilities in safety category 1 and excellent infrastructure.
What is a bonded warehouse? A bonded warehouse is a goods warehouse for the interim storage of goods, duty and tax unpaid. These warehouses are approved by customs authorities and administered by them, making them subject to official bond. Duty unpaid goods can be delivered to a bonded warehouse from abroad or the home country. The state levies do not become due until the goods are definitively imported into Switzerland or Panama.
Clients often ask the process and procedures to get their physical metals they have just purchased into a safe, secure storage facility. There are various cross checks for control and security as your metal moves towards its storage. After purchasing a metal basket, silver or gold, the client will receive a Certificate of ownership. The Certificate will have an account number and a storage number. The documenting of the shipment and storage consists of this storage number and a charge number. The charge number links the metals from the source mine to the refinery and finally to the metal supplier. The storage number is the tracking link for all the movements of your metals until they are stored in our bonded customs warehouse.
Every basket’s contents are labeled stating its contents, the amount of goods, the purity, as well as the storage number, which is also your ownership number for your basket. Prior to delivering the metals, the customs authorities can randomly check the contents, the amount and the purity of the metals.
Upon arrival at the customs warehouse, the metals will be checked for the last time and the freight will then be unloaded. Upon storage of the metals in the vault, the basket, silver or gold will be checked for the last time.
On the customs forms, the storage numbers are always indicated. Hence it can be confirmed at any time, what account number is the actual owner of a particular basket, silver or gold. Ownership of the account number is information that is not public and strictly protected providing Swissmetal Inc. (SMI) clients with a high level of anonymity.
The owner can visit the vault at any time and if he/she wishes to do so, he/she can take the metals home. The client needs to bring the Certificate of ownership and his/her passport. Metals that are taken out of the free zone are subject to taxes.
Advantages of Duty Free Zone Storage
- Excellent modern infrastructure
- No customs duties or sales tax on resale from the zone
- Independent Customs supervision and verification
- Unlimited storage time
- Motion and Vibration Sensors
- Access to vault with Customs escort only
- Full insurance coverage of your metals while in storage