It is no secret that we are in the midst of uncertain economic times right now. The volatile financial markets across the board, along with a complicated geopolitical situation, are a recipe for economic disaster. Those who failed to secure their assets have already suffered during the previous recession. A lot of people lost a substantial amount of money because they were not prepared.
We’re witnessing a similar situation today. Investors are looking at safer investment options so that they can ride out the wave of economic recession with ease. One of the most popular choices has historically been, and perhaps always will be precious metals. Precious metals are an investor’s haven.
As an investor, you might already have bought your fair share of silver or gold bullion to protect your hard-earned money from depreciation. These are assets that can retain their value, and even appreciate in value through rough economic times. Smart investors know this fact to secure their financial future.
However, storing precious metals yourself can be very risky. While how you choose to store your precious metals is your decision, storing it yourself is really only a viable option if your circumstances allow you to arrange a high level of security. In my opinion though, the best option is to store your precious metals in a highly secure private vault, and if you can make it an offshore vault, then even better.
Instead of taking the extra risk and becoming a victim of property crime, it is best to choose a safer storage option that can guarantee you peace of mind through unmatchable security in a different location. If you are thinking about storing your precious metals in a private offshore security vault, you cannot pick just any offshore facility.
Choosing the best facility takes a lot of research and on-the-ground experience to ensure maximum security for your assets. In this article, we are going to discuss some of the most important security features you should expect from a top depository.
Additionally, we will discuss a facility that offers unmatched safety features for the storage of all kinds of precious items for a long time.
Features Of A Private Depository
Storing your assets in a private facility abroad requires you to consider a range of factors, including security, insurance, auditing, proper allocation and segregation of assets, and of course, location. Let’s take a look at each factor in detail:
Evaluating the security features of a depository is a critical step to ensure the safety of your assets. When you are considering the services of a storage facility with high security, you have the right to take a guided tour of the facility. A comprehensive tour that will detail all of the security measures designed to protect client assets and will give you a better idea of who you are working with and how capable they are.
All the top facilities in the world feature multiple layers of security to ensure the protection of their clients’ valuables in case criminals attempt to rob the facility. Ideally, the vault itself, and all the way leading up to it should have dual access features throughout. Dual access security makes it very difficult to gain access to the secured areas, even if any criminal enters the facility itself.
The facility should have 24/7 security forces monitoring the depository to provide a quick response in case someone attempts to steal from it. The depository should have its own employees responsible for security, subcontracts with top-notch security firms, and accessibility to authorities to ensure a fast initial response to incidents.
Aside from that, the facility should be equipped with the latest technological features to provide the utmost security. Biometrics, biomagnetic sensors, motion detection, seismic sensors, etc., are all critical features which prove that the company is reliable and can properly secure your assets.
The company should also provide you with armoured vehicles with additional security personnel for the transfer of your precious metals and any other valuables as part of their services.
Auditing And Insurance
The best depository will not just employ the best security features, but it will also be insured. Regardless of whether or not the company operates in a safe environment, insurance goes a long way as an additional measure to protect your assets. Proper insurance can protect your belongings from theft, damage, physical loss, and natural disasters as well.
Lloyds of London is one of the most renowned insurance providers in the world. The company specializes in working with the best depositories in the world, and you can count on them to pull through when your assets are in danger. Lloyds of London deals with a range of insurance policies for the storage of valuable products. The best private depositories work with companies like Lloyds to ensure additional peace of mind for their clients.
Proper Allocation And Segregation Of Assets
The company should ensure that your assets are physically there at the facility in the storage vault and not anywhere else. For instance, if you store 10 kg of gold bars at the facility, there is no aspect of fractional ownership. The company cannot even repay you another 10 kg of gold bars with different serial numbers. They have to be the same.
Segregation of assets means that the storage space you use for your assets will not be shared with anybody else. All your precious metals are protected under your name, under your control and not be represented by a certificate. Another notable feature should be the ability to access and withdraw your assets for whatever reasons you need to.
Location Of The Facility
The location of the facility is another vital aspect you need to consider when choosing a depository. There may be plenty of facilities in the country offering top security measures, but there are caveats involved with storing within the borders. For instance, in case of a severe economic depression, the government can seize gold assets to offset the losses from a recession. That means Uncle Sam can take away your gold bullion to protect the national interests.
This is why a facility located in another country with a stable government and policies that can protect private assets rather than endanger them is a more viable option. A politically stable country with first-world infrastructure is more likely to keep your assets safe.
Take, for instance, Panama. Panama offers several benefits as a location for offshore storage of precious metals and other valuable assets. The country is just a few hours’ flight away from most major U.S. cities. It also has some of the most secure privacy laws around the world, a duty-free zone, and government policies that support the storage of precious assets.
Another reason for storing your assets in an offshore facility is that it provides more security for assets, even in case you have issues with your local jurisdiction.
Ideal Facility In An Ideal Place
Fort Kobbe Depository is the ideal facility you can consider for the storage of your precious metals, keeping all of the above-mentioned factors in mind. I have travelled the world quite extensively and examined the best facilities imaginable. The Fort Kobbe Depository is located in Panama and presents itself as a truly uncompromising international asset storage and concierge wealth preservation service.
Investors willing to invest adequately to get only the best storage for their precious assets will find Fort Kobbe to be a remarkable company. While you would expect places like Singapore or Switzerland to offer you the most secure facilities, but Fort Kobbe will make you beg to differ.
The depository offers layers upon layers of security monitored through multiple off-site security firms and authorities that operate with high-security measures of their own. Insured by the one and only Lloyds UK, this company is able to guarantee the protection of everything that matters.
You get easy access to your assets, based on your convenience. I have used the facility myself. A detailed tour of the facility gave me complete reassurance that this depository is truly in a class of its own. Several private and state security measures of the facility are bolstered by the presence of military security, courtesy of a nearby military installation and an on-sight battalion who must respond if the need ever were to arise.
Dual access security throughout all the stages, along with man traps, lead up to UL-3 Vaults and safety deposit boxes. The vault doors are 3 tons of metal with the latest locks and the vault itself is constructed with 425 tons of concrete.
An impressive $200 million insurance through Lloyds, coupled with a responsive security team (I was briefed that if there was an incident at the vault, the first responders would be on scene within minutes. 24-hours a day they have an elite security team on motorcycles, assault rifles drawn and literally have a license to shoot on-site). Add to the above, nearly impenetrable vaults, and highly client-centric service, Fort Kobbe is definitely a depository that can guarantee the safety of your vital assets through every situation imaginable.
I hope you got great value from this article on the Ideal Security Features of an Offshore Vault.
Don’t wait for something drastic to happen to your country. Panama and Fort Kobbe are only 2 1/2 hours from Miami and 6 1/2 hours from Toronto.
I would be happy to arrange a private tour for you so that you can see how secure this facility is for yourself. I can also tell you that this is the depository that I store a portion of my family’s precious metals, I truly believe this is the best country and location to use as an offshore vault and to store your precious metals in.
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Here are a few articles about Fort Kobbe and why investing here in Panama is the best solution for your precious metals safety!
About The Author
Mikkel Thorup is the host of The Expat Money Show podcast and the author of #1 Best-Selling book Expat Secrets on Amazon. He has spent nearly 20 years in continual travel around the world, visiting more than 100 countries including Colombia, North Korea, Zimbabwe, and Iran.
His goal is to help Expats like you to generate additional streams of income, eliminate your tax bill, and take advantage of offshore structures so you can travel the world freely and never have to worry about money again. For more information on his legal (but creative) tax strategies for Expats watch this free video.
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