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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