» Topic: Wealth Storage Option in SwitzerlandBonner & Partners

Tuesday, 23 January 2018

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Wealth Storage Option in Switzerland

Welcome! Forums Gold and Commodities Investing Wealth Storage Option in Switzerland

This topic contains 4 replies, has 4 voices, and was last updated by  Bill Bonner 4 years, 9 months ago.

Viewing 5 posts - 1 through 5 (of 5 total)
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  • #17645

    Emma Walsh
    Keymaster

    Suggestion from Bonner & Partners member:

    Several years ago we were introduced to safewealth advisories (SafeWealth ) and have some of our wealth stored with them in a vault (not a bank) in Basel. We can store metal of different kinds and also physical cash notes of several countries. I can request they sell some of my metal and purchase cash notes or wire the proceeds to my local bank.

    #27035

    DOUG T.
    Member

    CBC News published this informative and interactive demo to show how wealthy store their riches in other countries to avoid taxes. Some of these schemes they list get very intricate, including elaborate trusts, LLCs, phony lawsuits, RIP insurance policies, currency swaps, etc. Interesting, but with FATCA requirements, most of these may no longer apply to US citizens.

    http://www.cbc.ca/news/interactives/offshore-tax-havens/

    #27041

    SUNIL G.
    Member

    Hi, I was wondering how safe the Safewealth Group is. I have heard about them elsewhere. However, I do not have enough information to know that they are a genuine operation and what the potential for fraud is. Can you please help.
    Thanks.

    #27042

    SHAWN D.
    Participant

    My research into the SafeWealth Group indicates that it is an advisory firm only, and it does not hold custody to any of its clients’ assets. Instead, it will introduce you to safe banks and vault storage institutions, and make recommendations on asset allocation. But you will still need to do you own due diligence on the recommended institutions, which are independent of the SafeWealth Group. And you will also need to manage your own asset allocation, or have one of the recommended institutions do it for you. Based on this business model, I would be of the opinion that thepotential for fraud on the part of the SafeWealth Group is quite low.

    #18055

    SUNIL G.
    Member

    Shawn, thanks for those comments. Sounds like I should look into this a lot more seriously than I have so far.

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