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Time of India
3 days ago
- Business
- Time of India
How Singapore became the go-to gold bunker for the ultra-rich
Global uncertainties are rising. The world's wealthy are moving assets to Singapore. Singapore's stability attracts them. It offers political neutrality and secure storage. Demand for secure storage is surging. Silver Bullion's facility is seeing increased orders. Singapore's legal framework and location are key. Investors are diversifying into tangible assets like gold. Singapore's commitment to law makes it trustworthy. Singapore's rise as a gold storage hub stems from its strong legal system, political stability, and strategic location. Investor appeal has grown further due to tax exemptions on investment-grade precious metals. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Strategic advantages fueling Singapore's rise Global trends driving the shift Rising inflation, conflict in the Middle East, fears of financial contagion in regional banking systems — global uncertainties are mounting. And in the face of this turbulence, the world's ultra-wealthy are moving their gold reserves and precious assets to one place: out of a dramatic split from Malaysia in 1965, Singapore has long put stability and business at the core of its nation-building strategy. With no natural resources to rely on, the city-state bet on finance, logistics, and the rule of law. That bet is paying as trust in traditional Western financial centers is shaken by rising regulation and uncertainties, Singapore's blend of political neutrality, low taxes, and ultra-secure storage facilities is helping it quietly become the go-to vault for global demand for secure storage in Singapore has surged amid global economic uncertainties and geopolitical tensions. Wealthy individuals are more into physical assets like gold to safeguard their wealth. For instance, Silver Bullion's facility, The Reserve , is designed to hold 500 tonnes of gold and 10,000 tonnes of silver, with an appetite for tangible Gregersen, the founder of the repository, stated that from the beginning of the year until April, there was an 88% increase in orders for storing gold and silver in the vault compared to the same period in 2024, as reported by CNBC . The Reserve, which also sells gold and silver bars, saw sales for precious metals bars skyrocket 200% year on year during that time, data provided by The Reserve ascent as a preferred gold storage hub is attributed to its robust legal framework, political stability, and strategic geographic location. The government's proactive policies, including exempting investment-grade precious metals from the Goods and Services Tax (GST), have further enhanced its appeal to investors seeking safe and efficient wealth preservation city's state-of-the-art storage facilities, such as Le Freeport—often referred to as "Asia's Fort Knox" offer high-security vaults for storing valuable assets. These facilities provide clients with confidentiality and peace of mind, essential factors for individuals and institutions aiming to safeguard their wealth against global market demand for secure storage solutions in Singapore aligns with a broader global trend where investors diversify their portfolios to include tangible assets like gold. Factors such as fluctuating currency values, inflation concerns, and geopolitical tensions have prompted the ultra-rich to seek stable environments for their commitment to upholding the rule of law and its reputation for low corruption levels make it an attractive alternative to traditional wealth havens. The city's commitment to transparency and regulatory compliance ensures it remains a trustworthy location for asset storage.
India.com
4 days ago
- Business
- India.com
World's richest are storing their gold in a building due to..., the six-storey building has treasure worth Rs 120000000000, it is located in...
(Representational image/AI generated) New Delhi: Did you know that these days, the wealthy are storing their gold in Singapore? Amidst international uncertainties, diminishing trust in banks, and geopolitical tensions, the world's rich are now keeping their gold not in bank lockers but in secure vaults abroad. The biggest beneficiary of this trend is Singapore, which is becoming the 'Geneva of the East' for high-net-worth individuals (HNWIs) worldwide. According to a CNBC report, 'The Reserve', a six-story private vault near Singapore Airport, currently stores approximately $1.5 billion (around Rs 12,500 crores) worth of gold and silver bars. This building, covered with onyx, features top-notch security and contains thousands of safe deposit boxes and a vast storage chamber. According to the founder, Gregor Gregersen, orders for gold-silver storage have increased by 88% between January and April 2025, while gold-silver bar sales have seen a 200% year-over-year growth. Why is this trend of gold changing? Trust crisis: Wealthy individuals in countries like Lebanon, Algeria, and Egypt are losing faith in their banking systems. Inclination towards physical gold: Gregerson states that people now consider holding physical gold more secure than paper gold (ETFs, mutual funds) as it carries less counterparty risk, or the risk of default from a third party. Lessons from the banking crisis: The 2023 Silicon Valley Bank crisis made many wealthy investors realize that it's better to hold actual gold physically in a reliable location rather than relying on paper claims. Why is Singapore becoming the first choice? Political stability: Singapore is considered a 'safe jurisdiction,' much like Switzerland once was. Transit hub: It serves as an important transit center, making the import and export of gold easier. Bank-free storage: John Reed from the World Gold Council mentions that some investors now prefer to store gold outside of banks, as they feel the banking system is not completely secure anymore.
