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Bullion Star: Why Singapore is so great for gold investors
2:39p ET Monday, December 11, 2017
Dear Friend of GATA and Gold:
Bullion Star, headquartered in Singapore, today expounds on the city-state's great advantages for gold investors.
Bullion Star writes: "Apart from the goods-and-services tax exemption on investment precious metals, there are a number of other jurisdictional advantages that have supported the growth of Singapore as a gold trading and storage hub and that reinforce the logic for buying gold and storing gold in Singapore.
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"In Singapore, there are no other taxes when buying gold, silver, or other precious metals. This means no capital gains tax, no other sales tax, no death tax -- in short no taxes. There are no reporting requirements when buying or selling gold or silver or other precious metals in Singapore. This means no reporting requirements to any Singaporean authority and no reporting requirements to any international authority.
"There is no goods-and-services tax when importing gold and other precious metals into Singapore, or when exporting gold or other precious metals out of the country.
"Singapore is also famed for its strong rule of law, making the country one of the safest and most secure countries to buy and store gold. In taking delivery or selling precious metals, it is quite safe, apart from the usual precautions, to walk in and out of bullion dealer shops in Singapore carrying your precious metals.
"Furthermore, the Singapore legal system is very protective of private property rights, and the nation of Singapore has strong military capabilities. Both factors are reassuring when storing gold or silver in the city-state.
"Finally, because it's a thriving gold trading hub, with a buoyant wholesale and retail bullion market, Singapore has a very well-developed gold storage and vaulting infrastructure, and is very well serviced by secure transport companies."
Bullion Star's commentary is headlined "Gold Demand in the Singapore Bullion Market" and it's posted here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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