Gold Storage Singapore
Bullion Storage – There is a surge in the safe-haven reputation of the island state due to investors seeking safety in gold and silver
When it comes to gold storage, Singapore tops the list. With ultra-cheap premiums and low storage costs, limited regulation, low corruption, and a tax framework that favors companies and investors, prices are competitive.
Singapore’s growth strategy gains pace with the opening of Le FreePort, a 25,000-square-meter facility. This is Asia’s first climate-controlled storage facility and freeport, both modeled after Swiss free ports. Singapore Free-Port, a high-tech storage facility adjacent to Changi Airport, operates in a duty-free zone.
Gold Storage Singapore Content
Singapore is a gold-investors’ refuge…which is why there is plenty of Bullion Storage
LE FREEPORT
The LE FREEPORT facilities in Singapore and Luxembourg combine practical design with the highest levels of technical competence.
Investors and collectors alike expected LE FREEPORT to set new standards: cutting-edge technology, efficient logistics, and a wide range of specialized services.
Artwork and other valuables are well-protected, serviced, and preserved on LE FREEPORT platforms.
Le Freeport - Singapore Address
32 Changi N Cres, Singapore 499643
Malca-Amit Singapore
Malca-Amit Singapore is the anchor tenant at the above mention Freeport facility here in Singapore and even houses some of the largest bullion bank storage facilities as well as many of the bullion dealers in Singapore.
Malca-Amit’s state of the art facility near Changi International Airport is located in the Singapore Freeport, a 25,000 sqm high-security and climate-controlled facility featuring cutting edge security technologies enhanced by green building engineering.
Liability Coverage:
Malca-Amit assumes liability for valuable goods entrusted to Malca-Amit worldwide (subject to applicable service contracts), and insures this liability with Lloyd’s of London and London market insurance companies.
Malca-Amit Singapore Address
Changi N Crescent, Singapore 499643
The Reserve aka The Safe House
THE SAFE HOUSE is now at 6 Changi South Street 3
Silver Bullion, the Reserve’s parent company, was founded in Singapore in the aftermath of the global financial crisis. To protect its clients from the disastrous impact of such events, it set out to become the world’s safest sanctuary for precious metals, particularly gold and silver.
As of December 2020, they have relocated The Safe House to a new building, called The Reserve, at 6 Changi South Street 3, Singapore 486128.
While The Safe House is fully operational, renovation works for The Reserve will continue through 2021/22 with expected renovation works to be completed by early 2023.
When completed, The Safe House will have a capacity to store up to 500 tons of gold and 15,000 tons of silver. It will probably be the largest silver vault in the world.
The world’s highest capacity vault. Built around transparency by design.
⬤ 12,500 safe deposit boxes
⬤ 10 gold and art vaults for lease
The Reserve aka The Safe House Address
6 Changi South Street 3, Singapore 486128
Brinks Singapore
Brinks are recognized by the world’s metal markets as a logistical supplier and as an approved LBMA weigher, Brinks provide neutral involvement from pick up through inventory control to final delivery with their own storage facilities in Singapore.
Brink’s Singapore can take care of your gold and silver or scrap gold shipment requirements from Singapore, Malaysia, Brunei and Indonesia to over 110 countries worldwide.
In addition, they offer a comprehensive inventory service that includes:
- Daily reporting on stock positions
- Singapore bonded precious metals storage
- Full liability* for your stock held by Brink’s
- preparation of the shipment in accordance with your instructions
- weighing according to industry standards
- preparation of documents for letter of credit
- storage, acceptance and release of shipment upon receipt of formal instructions
Brink's Singapore Pte Ltd Address
1 Kaki Bukit Rd 1, Enterprise One, Singapore 415934
Gold Storage Frequently asked Questions & Answers
How do you store gold in Singapore?
People often ask Where is the safest place to keep gold in Singapore?
Gold may be stored in a number different ways in Singapore, including the following:
Safe deposit box at a bank There are a number of banks in Singapore that provide safe deposit boxes, which are available to rent for the purpose of storing gold and other precious valuables. This option gives you a high degree of protection and is practical, since it enables you to conveniently retrieve your gold when the bank is open for business.
Storage facility or bullion dealer: In Singapore, there are a few storage facilities and bullion dealers that provide safe storage solutions for gold and other precious metals. If you have a substantial quantity of gold that needs to be stored, this may be a viable alternative for you. But to be in the safe side its best that the vault operator is independent and you should store gold or any precious metals under your own name not the bullion dealer.
Storing Gold at Home: Another option is to keep your gold at home, provided that you have a safe space to do so. This may be anything like a safe or a lockbox that is stored in a particularly secure part of your house.
It is essential to bear in mind that keeping gold at home comes with a degree of danger, since there is always the possibility that your gold may be misplaced or stolen in the event that your house is broken into. As a result of this, it is typically recommended that you keep your gold in a safe area that is not readily accessible to other people.
Is it safe to store gold in Singapore?
In general, Singapore is considered a safe and secure place to store gold and other valuables. The country has a stable political environment, a strong economy, and a highly developed legal system, which all contribute to its reputation as a safe place to store gold.
If you store your gold in a bank safe deposit box or a storage facility, there is a small risk that it could be damaged or lost due to an accident or natural disaster.
To minimize these risks, it’s a good idea to choose a storage option that provides a high level of security and is insured against loss or damage. You should also consider purchasing insurance to protect your gold against theft or other risks but using a third party with insurance is a cheaper and better option in the long run.
Why buying and storing gold at home is not a great idea?
There are a few reasons why it may not be a great idea to buy and store gold at home:
Security risks: Storing gold at home carries some security risks, as it could be lost or stolen if your home is burglarised. It’s important to keep in mind that gold is a highly valuable and portable asset, making it a desirable target for thieves.
Inconvenience: If you store your gold at home, you will need to take extra precautions to ensure that it is stored safely and securely. This can be inconvenient, as you will need to find a secure location within your home to store it and make sure that it is well-protected.
Limited protection: If you store your gold at home, it may not be covered by insurance in the event of a loss or damage. For example, many home insurance policies do not cover valuable items such as gold, or they may have low coverage limits for these items.
Overall, while it is possible to store gold at home, it may not be the best option due to the security risks and inconvenience involved. It may be more advisable to consider professional storage options that offer a higher level of security and protection.
Where do the rich store their gold?
There is no one-size-fits-all answer to this question, as different people have different preferences when it comes to storing gold. Some wealthy individuals may choose to store their gold in bank safe deposit boxes, while others may prefer to use bullion dealers or storage facilities.
It’s worth noting that many wealthy individuals may choose to diversify their holdings by storing their gold in multiple locations. For example, they may store some gold in NY, New Zealand or Singapore. this diversifies country risk and political risk.
Ultimately, the best storage option for gold will depend on the individual’s specific needs and preferences, including the amount of gold they have, their level of security concerns, and their access needs. It’s important to consider all of these factors when deciding where to store your gold.
