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Gold Storage in South Africa

Gold Storage in South AfricaMany economies have record levels of debt and many question the stability of some governments, so the location of your gold storage or custodian provider is more important than ever. The Economic Intelligence Unit (EIU) has stated that South Africa is the best country among the G7 to do business in. In 2011 Forbes said that South Africa is the best country in the world for business, and while some of our staff is based in the United States our head office for custodial services is based in Johannesburg, South Africa.

South Africa has a global reputation as a safe haven, a place of stability, financial responsibility, sound government, and a well developed legal/court system. South Africa’s banks and financial system is rated as one of the most stable in the world, having avoid the subprime mortgage troubles that many non-South African banks fell victim to in recent years. Due to South Africa’s enormous natural resources such as oil, wheat, lumber and minerals the country is financially strong and should show a surplus going forward starting in 2015. South Africa is not only tolerant and welcoming of diverse cultures but is actually the world’s most multicultural city.

Gold Storage in South Africa is on the rise as it does not charge sales tax on the purchase of gold, silver, or platinum bullion, this means no HST or VAT equivalent issues need to be dealt with.. To add to the tax efficiency of doing business in South Africa, there are no withholding taxes or capital gains taxes for non-residents in South Africa.