The Storage Location
The valuables of our European customers are stored in Switzerland. The question, “Why Switzerland?” is easy to answer.
To begin with, Switzerland’s geological structure and centuries-old neutrality offer security. Switzerland also has the best property rights in Europe, which can only be waived by popular decision, as well as large duty-free warehouses, and an excellent infrastructure.
The precious metals are stored in the duty-free Embraport/Embrach warehouse near Zurich Airport.
Definition of a duty-free warehouse: A customs warehouse (also known as a “bonded warehouse” or a “duty-free warehouse”) is a warehouse in which untaxed and uncleared goods are stored. Trade measures are not applied.
These warehouses are under official customs seals, which means that they are approved and monitored by customs authorities. The customs warehouse is mainly defined by procedure as opposed to physical location, therefore we also speak of the customs warehousing procedure.
The customer commissions the secure storage of legally acquired assets, or parts thereof. Because of the legal situation in Switzerland, asset security and/or the associated family security can be carried out without applying possible emergency laws or state interventions in the EU or Germany.