Duty-free warehouse in Switzerland with no minimum storage fee

duty-free warehouse has no minimum storage fee duty-free warehouse has no minimum storage fee pixabay

Buy white precious metals ex-VAT and store them securely

 

Gold investment products have an advantage over other precious metals in that most purchases are VAT-exempt. However, white metals are primarily considered industrial raw materials, so their purchase is generally subject to statutory VAT. But investors wishing to purchase silver, platinum and palladium coins or bars should remember they can save on VAT by storing their goods in a duty-free warehouse. Swiss private provider OrSuisse operates bank-independent duty-free warehouse facilities in Switzerland which are ideal for this purpose. These high-security transit warehouses offer extremely consumer-friendly conditions with no minimum storage fee.

Swiss duty-free warehouses, often just abbreviated to ZFL, are suitable for storing all kinds of goods that can be deposited with customs duties and VAT unpaid. Precious metals, artworks and other assets can be stored indefinitely in this interim storage facility. All stored goods are monitored by the Swiss customs, but customs duties and VAT only become payable when the stored goods actually leave the duty-free warehouse for onward delivery. One implication of this practice is that an internal tax-free change of ownership can take place, provided this change requires no external delivery of goods.

This explains why bonded warehouses are ideal for all white precious metals. The OrSuisse transit warehouse can provide allocated & segregated storage of silver coins and platinum bars. This arrangement has the added advantage that all delivered items remain the property of the owner; they are not simply delivered into collective storage. On retrieval of the goods, clients will then receive these self-same products back – rather than just being offered goods of equivalent value.

What does duty-free storage without a minimum storage fee actually mean?

Many bonded storage providers may impose minimum storage fees. So in order to access a storage facility, prospective customers are required to deposit a defined minimum amount of precious metals. Storage fees are then usually scaled according to the actual volume of stored goods. The OrSuisse duty-free warehouse has no minimum storage fee; an arrangement which allows clients to deposit small amounts of silver and gradually expand their inventory over time.

Another real benefit is that every client automatically receives a negotiable warehouse receipt when storing precious metals. These tradeable order warehouse receipts are recognised under the Swiss Code of Obligations, which means these documents can be used just like securities. OrSuisse negotiable warehouse receipts can be simply and conveniently transferred via endorsement. So your bullion goods can be easily sold to a specialist retailer without ever having to be physically removed from the warehouse. The documents may also be used as collateral security to obtain loans.

Summing all this up, silver investors who wish to make full use of their investable budget should consider storing their goods in a Swiss bonded warehouse and thus save on VAT costs. Storage provider OrSuisse enables you to do this, but with no minimum storage fee, and with the added advantage of receiving a negotiable warehouse receipt.

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