If you want to keep your precious metals safe so that they can do their job as a safe haven asset, a secure storage option is a must. Better yet, a range of secure storage options so that you can keep a small amount in your home in case of turbulent times, but also store larger amounts that would not be possible to protect in a home safe or hiding place. We wrote about this recently...
Precious metal depositories offer significant advantages in terms of storing and protecting your precious metal assets. Not only do they provide enough space to house a large amount of bullion, but enhanced surveillance and monitoring practices keep your metals safe.
As your net worth increases, so should your gold and silver allocations as a percentage of your portfolio. World Gold Council recommends an allocation of 8-12% based on various surveys. To ensure that all of your eggs are not in one basket, spread that wealth out among a number of reputable storage facilities, in various locations, domestically and abroad. The more spread out your wealth is, the safer your portfolio will be.
And for those interested in storing gold overseas in Grand Cayman, it just got a little easier.
In November of 2022, the Cayman Islands Government implemented a 4% tariff on the importation of all gold bullion products. However, we are happy to report that the tariff has been repealed! This applies to all gold coins (with the exception of numismatic coins). Currently, this does not include gold bars, but we are hopeful that there will be a similar outcome very soon...
This reversal provides strong reassurance of the Cayman Islands Government’s commitment to restore the Cayman Islands to the premiere jurisdiction for precious metals offshore storage. If you're considering Grand Cayman as an overseas storage destination for your metals or already have an account with our partner Strategic Wealth Preservation (SWP), give us a call at 1-800-831-0007 to see how you can buy, move, or store your gold coins without the added cost from the tariff today!
With a brand new, expanded state of the art facility in Grand Cayman, SWP offers secure domestic and international storage in vaults located around the world. This new facility is both Category 5 Hurricane and Class 3 UL rated, ensuring that SWP can offer one of the safest and most flexible storage locations in the world.
With gold spot prices taking a little pause in the current rally, the timing could not be more advantageous. Call 1-800-831-0007 to discuss buying and storing gold in Grand Cayman today!