How to store gold offshore in the Cayman Islands for free
By Andrew Henderson From Nomad Capital
Dateline: Stockholm, Sweden
If there’s one trend that I’m sure of, it is that there are an ever greater number of offshore opportunities awaiting those that can get past the lies and distortions about offshore strategies put out by the financial media.
In much of the western world, for instance, investing in gold has become practically a joke. While you can turn on Fox News and see one ad after another from pitchmen urging you to buy gold, most Americans still find gold to be some kind of ancient relic.
Ask the average guy on the street about a gold bullion coin and I imagine you’d hear retorts about how Christ used it to buy bread.
As a result, keeping gold in the United States is a really bad idea in my opinion. In our recent Nomad Guide: Offshore Gold, we talked about vaults in Canada being passable for Americans, but that better options exist.
Still, I’ve been looking for a reliable option for those looking to store gold in the Americas so it’s close to home.
Our inbox is full of characters asking us to promote their offshore businesses, so I usually prefer to rely on my boots-on-the-ground research to find new opportunities, especially when it comes to storing gold overseas.
However, I was recently introduced by a colleague of mine to Kody Zander at Byzantium, and I was pleasantly surprised but what he had to offer to gold investors, especially those in the United States and Canada.
Byzantium is an offshore gold vault located in the Cayman Islands. If you need to buy gold overseas, they will sell it to you; premiums are slightly higher than in Hong Kong or Singapore so expect to pay an extra $10 or so per ounce of gold.
Depending on your views on Singapore (“China could invade them”) or Hong Kong (“it IS China”), or simply keeping your gold in the Americas, this could be well worth it.
Byzantium will also help you transport your gold to their Cayman Islands vaults with all customs forms in place so you don’t have to wind up in some back room at the airport being asked why you’re a drug criminal.
IMAGE: Visiting your gold offshore has never been so appealing
For more on this story go to: http://nomadcapitalist.com/2015/05/29/how-to-store-gold-offshore-cayman-islands/