Precious Metals

Written and reviewed by John EvansConnor Steens
Updated
Physical gold bullion prepared for secure international storage
Allocated bullion Swiss & international vaulting Documented custody

Allocated bullion

Particular bars or accepted coins can be earmarked for the legal owner, rather than standing merely as a pooled or unsecured claim.

Swiss gold vaulting

When it fits, allocated gold can be kept via approved Swiss custody arrangements, with ownership and storage terms set down in writing.

Gold, silver and more

The main emphasis is on gold and silver, while certain platinum and palladium products are looked at where a provider's terms allow.

Records for each bar and how they are checked

The paperwork on offer can run to trade confirmations, bar lists carrying serial numbers, refinery details, holding statements and audit information.

Insurance and custody

We examine each vaulting arrangement for how far insurance reaches, what the custodian is obliged to do, how access is controlled and how client bullion is treated in law.

Offshore ownership structures

An offshore company can either own the bullion account outright or be positioned under a trust or foundation to serve governance and succession planning.

Comparing approaches to holding Swiss gold, physical bullion and precious metals
Holding optionTypical roleOwnership & storageKey considerationDiscuss option
Allocated Swiss goldBars or accepted bullion coinsHolding bullion for the long run, keeping reserves and spreading risk inside a documented Swiss or international custody relationship.Particular bullion set aside for the person or approved legal vehicle and kept with a professional custodian.Premiums, the size of each bar, dealing spread and terms of delivery.Discuss
Allocated silver bullionBars and coinsA supporting allocation to another metal, one with its own industrial demand, price movement and choice of denominations.Tangible holdings booked to the owner or entity, and certain providers can offer segregation.The volume to be stored, how readily it trades and any indirect taxes that apply.Discuss
Platinum & palladiumSpecialist physical allocationFocused exposure to rarer metals that carry qualities of both an investment and an industrial market.Allocated bars or coins, where the chosen dealer and custodian back them.Sharper price swings, less liquid markets and limits on what products can be found.Discuss
Mixed metals holdingOne custody relationshipSpreading across a number of physical metals without setting up a distinct ownership arrangement for every holding.Several kinds of metal booked inside one approved custody account or legal vehicle.The allocation policy, rebalancing and the cost of transactions.Discuss
Existing metal transferCustody consolidationTransferring approved holdings you already have into a professional vault or a freshly created ownership structure.Whether it is accepted turns on provenance, product specifications, how transport is arranged and any verification called for.Assay, logistics, insurance and records tracing the chain of custody.Discuss
Allocated bullion for secure vault storageOwnership · Custody · Documentation
  • Ownership and custody design reviewed before formation begins
  • Company formation and registered-agent onboarding where required
  • Custodian application coordinated with beneficial-owner and source-of-funds documents
  • Purchase, transfer, statements and ongoing administration explained in advance

Tangible wealth reserve

Tangible metal can be just one element of a broader reserve plan that also holds cash, securities, property and operating assets.

Currency diversification

Keeping a holding abroad can lessen reliance on one banking system or a single home-currency setting.

Portfolio balance

Gold and other metals can move on their own path, apart from shares, bonds and cash, though their value may still climb or drop sharply.

Succession planning

Recorded ownership by way of a company, trust or foundation can help continuity and a smooth handover of control.

Corporate reserves

A qualifying company can keep physical metals within its treasury or long-term asset mix, provided advice and governance are in place.

Geographic diversification

Using professional custody beyond the owner's home country spreads out where assets physically sit and are administered.

01 · Legal owner

Decide who is going to own the bullion

You can own Swiss gold or other bullion in your own name, through an offshore company, or through a company that sits under a trust or foundation. Which route you take should rest on legal and tax advice.

02 · Custody model

Settle on the vault and the bullion terms

We line up providers on who they accept, allocation, segregation, insurance, audit information, dealing access and how delivery is handled.

03 · Onboarding

Complete due diligence

The custodian checks identity, address, where the funds originate, who the beneficial owners are and the governing documents of any legal vehicle.

04 · Bullion purchase & records

Buy the metal and record the holding

After approval comes through, money is moved across, the bullion is bought and the owner is handed whatever confirmations, statements and bar details exist.

Direct ownership

Held by a person or a family

Here the custodian lists the individual as both account holder and legal owner. It is generally the most straightforward option, though it sets up no separate ownership vehicle.

A fit where there is no need to keep things structurally apart and personal reporting stays simple.

Company ownership

Corporate precious-bullion account

A company, whether already running or freshly set up, can buy and hold approved metals. Its directors or managers run the relationship in line with the company's governance documents.

The company has to be kept in good standing, with its ownership, dealings and accounts disclosed wherever that is required.

Wider structure

A trust or foundation placed over the company

A trust or foundation can hold the company that in turn owns the custody account, which builds distinct layers for governance, succession and everyday administration.

How well it works hinges on timing, the governing law, professional administration and advice taken in each country involved.

Switzerland is one long-standing home for vaulting and is worth weighing where the provider, the size of the account and the ownership structure all line up. Other approved custody locations can suit just as well. The price of bullion can go down, and nothing here amounts to investment, legal or tax advice.

Founder & Chief Executive Officer

Rarotonga, Cook Islands

More than two decades of experience across offshore banking, asset protection, international companies and trusts.

Connor Steens
BBUS

Founder & Business Development Director

Sydney, Australia

Specialises in offshore structuring, strategic partnerships, business development and global wealth solutions.

Atinata Hosking

Sales Manager

Rarotonga, Cook Islands

Brings more than two decades of experience in offshore banking, regulatory compliance and client relationship management.

Melanie Tetuaiteroi

Sales Assistant

Rarotonga, Cook Islands

Supports client onboarding, communications, documentation and operational coordination, backed by fiduciary administration experience.

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How it works

From planning offshore ownership through to documented custody of bullion

A bullion engagement brings together a legal owner, an approved dealer or custodian, and records that show what is held and in which location. Swiss gold can be chosen when the provider and the structure are a good fit.

Work starts by settling whether the account will be personal or held via a company, trust or foundation. From there we measure custody relationships against the metal you intend to hold, the sum involved, your dealing requirements, delivery preferences and reporting position.

  • Establish the legal owner and where the money comes from.
  • Choose the metal, its form and the custody model.
  • Work through the provider's due diligence and open the account.
  • Buy or move in the metal, then keep the custody records.

We handle the ownership structure and onboarding with the provider; choosing the investment stays with the client and their own advisers.

Discuss bullion ownership
Allocated ownership

How owning bullion differs from merely holding a claim

With allocated custody, the owner is usually given particular physical bullion instead of an unsecured balance that an institution owes them.

The wording providers use needs close reading. Certain services pin down precise bars and serial numbers, whereas others assign matching metal drawn from a wider custody pool. Individually segregated setups take it further still, keeping the owner's metal apart from what other clients hold.

Allocated

The physical bullion is booked to the owner or the legal vehicle under the terms of the custodian's account.

Segregated

The holding is kept physically apart or given its own dedicated space, according to the provider's procedures.

Unallocated

What the client holds may be a contractual claim on an institution, not title to any identified metal.

Metals available

Swiss gold, silver and certain platinum-group metals

What is available comes down to the dealer, the vault, product specifications, how liquid the market is and the size of the account.

Swiss gold

Allocated bars or accepted bullion coins kept through a qualifying Swiss custody relationship, so long as the provider grants access and its terms allow.

Silver

On offer as bars and coins, taking up more storage space and possibly taxed differently on the indirect side.

Platinum

A market that is smaller and shaped more by industry, with its own liquidity and volatility profile.

Palladium

A niche allocation usually taken up only when the client grasps how concentrated its industrial demand is.

When it suits, the provider can supply Swiss-vaulted gold bars that meet accepted wholesale-market standards. In choosing a product, weigh authenticity, how readily it resells, premiums and how practical delivery is.

Storage and custody

Swiss vaulting is only one piece of the broader custody relationship

A thorough custody review looks at legal title, insurance, audits, statements, dealing access, transport and what would follow if the provider went under.

  • Who holds legal title to the metal and how client property is kept apart.
  • Whether the metal is stored allocated, commingled or individually segregated.
  • How far insurance reaches and where it stops.
  • Independent inspection or audit information that clients can obtain.
  • The steps and charges involved in selling, collecting, transferring or shipping abroad.

Holding Swiss gold in custody can appeal to clients who want a well-established vaulting centre, yet the right arrangement will still turn on provider access, costs, legal title, how it is taxed and what it is for.

Ownership structures

Owning directly, owning through a company, or using a broader estate-planning structure

Whether Swiss gold or other bullion is held in your own name or through a legal vehicle, the custodian still has to know the beneficial owners and those in control.

01

Individual ownership

The most straightforward option, where both the account and the metal are in the individual's name.

02

Offshore company

The company takes on the role of account holder and has to keep up governance, records and reporting.

03

Trust-owned company

The trustee holds the interests in the company, while directors or managers look after the bullion account.

04

Foundation-owned company

A foundation can own the company where civil-law succession or governance aims make that the right choice.

Physical vs paper

Physical bullion and market-linked instruments answer different needs

ETFs, certificates, futures and digital tokens give you exposure to the price, whereas allocated custody is built around actually owning physical bullion.

Paper instruments can trade conveniently and with less friction, but they bring in a chain of issuer, fund, bank, broker, derivative or custodian. Physical custody carries its own costs and risks instead, among them storage fees, insurance, transport and broader buy/sell spreads.

  • Reach for price-linked instruments when liquidity and efficient trading are what matter most.
  • Reach for physical allocated metal when direct title and custody records are what you are really after.
  • Judge the two approaches within the client's whole portfolio, rather than assuming one is always better than the other.
Reporting and tax

Offshore ownership is recorded, not hidden

How tax and disclosure land will depend on where the owner resides, the legal vehicle, which accounts are used and how gains, distributions and foreign assets are treated.

A company, trust or foundation can bring extra filings, accounting duties and beneficial-ownership disclosures. A bank account used to pay for purchases may carry its own reporting obligations, apart from those on the metal.

We ask for clear source-of-funds information and advise taking counsel from qualified legal and tax professionals before any change to ownership or custody.

Discuss the structure
Who it suits

Clients who want documented physical ownership as part of a broader wealth plan

This service fits best where the client places weight on professional custody, spreading assets geographically and a clear framework of legal ownership.

  • Families putting together a long-term reserve of tangible assets.
  • Cross-border investors who already run a company, trust or foundation.
  • Business owners weighing physical bullion as part of corporate reserves.
  • Clients shifting from casual storage at home to professional custody.
  • Estate-planning structures that need documented ownership and continuity.

It may not fit where the sum invested is too modest to justify the cost of professional custody, where instant retail liquidity is a must, or where the client will not go through full due diligence and reporting.

Fully allocated Swiss gold usually means the physical metal is set aside for the account holder or legal vehicle, not left as nothing more than a debt an institution owes. The provider's terms ought to spell out whether precise bars or coins are named, how title is recorded and what custody records you receive.

Segregated storage means a client's metal is kept physically apart or given a dedicated space, instead of being pooled with matching metal that belongs to others. The details differ from one provider to the next, so read the custody agreement, bar list, access rules and delivery procedures before you onboard.

Yes. A qualifying offshore company can buy and hold Swiss gold, silver or other approved bullion provided its constitutional documents, its governing law and the custodian all allow it. The company steps in as the account holder and has to clear beneficial-owner, source-of-funds and governance checks. Its directors or managers are responsible for keeping proper records and meeting the tax and reporting rules that apply.

A trust or foundation can hold the shares or membership interests of the company that owns the custody account. That can help with succession, governance and continuity, though it also brings more administration, expense and reporting. Such a structure should be set up for a lawful purpose and checked over by advisers in the client's home country.

As a phrase, Swiss gold usually points to gold that is refined, traded or held through a Swiss connection, but exactly what it means varies with the product and the provider. Switzerland is a long-established place to vault metal, yet the right custody centre depends on access, insurance, costs, what products are available, legal title, delivery needs and the owner's reporting position.

Gold and silver are the easiest to come by. Some providers will also handle platinum and palladium in approved bar or coin form. What is available, the minimum sizes, premiums, custody fees and how readily it resells all vary by metal and by product.

Sometimes. A Swiss or international custodian can call for proof of provenance, approved product specifications, secure transport and independent verification or assay. Bars you already own that fall short of the provider's standards might have to be sold and bought again rather than moved across directly.

No. Swiss gold custodians, other vault operators and formation agents establish who the beneficial owners are and examine where funds come from. The individual, offshore company, trust or foundation may face reporting duties on tax, accounting, foreign assets and beneficial ownership. Offshore ownership is meant to serve lawful custody, governance and diversification—not to hide anything.