Tag Archives: Austria

Nomad Capitalist’s 5 Best Countries For Offshore Gold Storage

Research related to Monday’s post about precious metals storage in Singapore led me to a piece published last fall by Andrew Henderson over on the Nomad Capitalist website. I’ve mentioned Andrew and his company before on the blog, but for those readers not familiar with them, Henderson is the founder and managing partner of Hong Kong-headquartered Nomad Capitalist, billed as the “world’s leading offshore consulting firm.”

Back on September 28, 2016, Henderson wrote in “The five best countries for offshore gold storage”:

The world is a big place and not every country is made alike, especially when it comes to offshore gold storage. The following are our top picks here at Nomad Capitalist for best countries for offshore gold storage

(Editor’s note: Bold added for emphasis)

Their top picks? In alphabetical order:

-Austria
-Cayman Islands
-New Zealand
-Singapore
-Switzerland

Henderson proceeded to explain why these countries made the “top 5” for offshore gold storage before ultimately selecting a single nation for the “number one spot on this list.”

Another insightful read from Andrew Henderson, which you can view in its entirety here on the Nomad Capitalist website.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s notes: The mention of entities marketing themselves as consulting businesses should not be construed as confirmation of services claimed to be provided or any sort of recommendation. A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Consider Quality Of Living When Selecting Location For Offshore Safe Deposit Box

Here’s a potential resource for selecting where to open an offshore safe deposit box. From New York City-based Mercer, the world’s largest human resources consulting firm, last Tuesday:

Despite recent security issues, social unrest, and concern about the region’s economic outlook, European cities continue to offer some of the worlds’ highest quality-of-living, according to Mercer’s18th annual Quality of Living survey. Safety, in particular, is a key factor for multinationals to consider when sending expatriate workers abroad, both because it raises concerns about the expat’s personal safety and because it has a significant impact on the cost of global compensation programmes.

“Heightened domestic and global security threats, population displacement resulting from violence, and social unrest in key business centres around the world are all elements adding to the complex challenge facing multinational companies when analysing the safety and health of their expatriate workforces,” said Ilya Bonic, Senior Partner and president of Mercer’s Talent business. “Multinational companies need accurate data and objective methods to determine the cost implications of deteriorating living standards and personal safety issues when compensating expatriates.”

Vienna continues its reign in the top spot for overall quality of living, followed by Zurich (2), Auckland (3), and Munich (4).Vancouver (5) is North America’s highest ranking city, and Singapore is the highest ranking Asian city, holding 26th place. Mercer’s survey also identifies the personal safety ranking for the full list of cities; it is based on internal stability, crime figures, performance of local law enforcement, and the home country’s relationship with other countries. Luxembourg tops the personal safety list and is followed by Bern, Helsinki, and Zurich – all tied in 2nd place. Baghdad (230) and Damascus (229) are the world’s least safe cities according to the ranking. The safest UK cities are Aberdeen, Edinburgh, and Glasgow – all ranked in 44th place.

Mercer’s authoritative survey is one of the world’s most comprehensive, and is conducted annually to enable multinational companies and other employers to compensate employees fairly when placing them on international assignments. Employee incentives include a quality-of-living allowance and a mobility premium.* Mercer’s Quality of Living surveys provide valuable data as well as hardship premium recommendations for over 440 cities throughout the world; this year’s ranking includes 230 of these cities…

(Editor’s note: Bold added for emphasis)

While the intended audience is multinational corporations and other employers dealing with expatriate employees, the survey findings provide valuable insights for prospective offshore safe deposit box renters about potential urban locations for storing one’s valuables/other items. That personal safety information compiled by Mercer is especially nice to know. In addition to short visits to the overseas location of the box, the potential exists for an extended stay at that foreign locale should conditions at home become inhospitable due to economic upheaval, civil unrest, man-made/natural disaster, etcetera. As such, choosing that part of the world where one’s personal wealth is going to be stored should not be taken lightly. That’s where information of the sort which Mercer provides might prove useful.

You can read the entire press release on the Mercer website here. To view their 2016 Quality Of Living Rankings, go here.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Related Reading: Austria’s Anonymous Private Vaults

This morning I was reading an article on The Nestmann Group’s website entitled “Austria: Anonymous Storage and The World’s Safest Bank.” Offshore expert Mark Nestmann informed readers:

Not that long ago, Austria had the world’s most stringent financial secrecy laws. Anonymous savings (Sparbuch) and securities (Wertpapier) accounts were widely used. The War on Terror, Money Laundering, Tax Avoidance, and All Things Private ended these opportunities for anonymity, but remarkably, others remain.

It turns out that Vienna is home to not just one, but two anonymous private vaults…

(Editor’s note: Bold added for emphasis)

Nestmann talked about these Austrian non-bank vaults and their anonymous safe deposit boxes in more detail in the piece, which you can read in its entirety here on his company’s website.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: Offshore Safe Deposit Boxes strongly condemns any attempted use of these overseas storage containers for illegal purposes)

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Jim Rogers Names ‘Top Three Safest Countries To Keep Your Money And Assets’ In

Well-known investor, author, and financial commentator Jim Rogers was recently interviewed by Geoff Rutherford for Sprott Money News as part of their “Ask The Expert” series. The Singapore-based Rogers talked about a number of financial/investing topics, including what he believed are the safest countries to keep money and assets in. From their exchange recorded March 12, 2015:

RUTHERFORD: So the question of confiscation always comes up with our experts, Jim. So the question right now is, what are the top three safest countries to keep your money and assets, and why?
ROGERS: Keep your assets protected from whom? Depends on, you know, North Korea is probably a very safe country to keep your assets if you’re trying to protect it from the U.S. and the West. I’m not so sure it’s safe for protecting it from the North Koreans if they get angry at you. It depends on who you’re trying to escape. I guess places like- well, that’s a tough one, because if you’re trying to protect it from everybody, you’re going to have to find yourself in an obscure country that nobody’s angry with, and which respects the rule of law and the sanctity of private property. I live in Singapore and I have assets in Singapore. But I have assets in various countries around the world. I have assets in the U.K. Some in the U.S.- tying to get my assets out of the U.S. because I expect exchange controls eventually. Switzerland, Austria– I mean these are countries that traditionally have been okay but even these countries, especially Switzerland, is not what it used to be as far as sanctity anymore. Singapore is the answer that pops to mind most of all for many reasons. The problem with that is, that if the U.S. really comes after somebody, Singapore would probably cave to the U.S., depending on the circumstances…

(Editor’s note: Bold added for emphasis)


“Ask The Expert – Jim Rogers (March 2015) | Sprott Money News”
(“Safe haven” discussion begins @ 5:51)
YouTube Video

The former investing partner of George Soros went on to bring up Canada in a discussion about currencies he owns, adding the North American country to the list of safe havens. From the interview:

RUTHERFORD: So again, back to the other question then, would Canada be a place that you would think would be a safe place to store your assets? Particularly precious metals in this sense?
ROGERS: Yes, I would put Canada on a list. Again, Canada has shown great resistance to the U.S. many times in history. I know Europeans who won’t keep their money and their assets in the U.S.- they’ll only keep it in Canada, their North American assets, and that’s because during the Second World War, the U.S. confiscated everybody’s assets, including our allies. The Canadians did not confiscate anybody’s assets, including the enemies. So Canada has a long history of being much more neutral, if you will, about peoples’ money and assets. It’s certainly better than the U.S., that’s for sure.

(Editor’s note: Bold added for emphasis)

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Related Reading: Das Safe, Merrion Vaults

This weekend, I got the chance to read two interesting articles related to offshore safe deposit boxes. I thought I’d share them with you this morning.

“Anonymous gold storage at Das Safe in Austria”

-Andrew Henderson, Nomad Capitalist, May 16, 2014

“Stash the cash: Keep your money and valuable safe”

-Mark Keenan, Irish Independent, May 24, 2014

Regarding that first piece, when I started getting acquainted with the world of overseas asset protection, an offshore private vault I’d constantly hear about was Das Safe in Vienna, Austria. Not only does the iconic vault offer standard non-bank safe deposit boxes, but anonymous ones as well. Andrew Henderson over at NomadCapitalist.com paid them a visit recently.

The second article was about a different non-bank storage facility- Merrion Vaults in Dublin, Ireland. Mark Keenan of the Irish Independent spoke to Séamus Fahy, former oil/stock trader and owner of Voltaire Diamonds, about how he opened Ireland’s largest private vault last year. In ten months, Merrion Vaults has gone from zero to more than a thousand clients. Note the conditions- and client mishaps- that fostered such early success.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

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