Purchase S.T.A.R. Storage Bullion, take delivery in early October tax free and enjoy:
- No Storage Costs - as six months storage is included in all orders
- No Fixed Delivery Fee - the usual SGD 299 fixed delivery fee is waived for deliveries scheduled for October - see details below
As you know Singapore will exempt most bullion types imported into Singapore, including all S.T.A.R. Storage bullion products, from the 7% goods and services tax (GST) from 1 October onward.
Until then, any imported bullion is still subject to this tax, however S.T.A.R. Storage is already exempt from GST due to the Singapore FreePort’s bonded (duty free) vault status. Customer can therefore purchase bullion through S.T.A.R. Storage today and take physical delivery after 1 October without your bullion being subject to GST.
We expect a large number of delivery requests in the month of October as customers - mostly Singaporeans - choose to take possession of their bullion once local taxes are removed. To facilitate this, we will consolidate our customer delivery requests into a few large deliveries from the FreePort Vault (tax free area) to our Certis Cisco depository and allow customers to pick up their parcel at their convenience over the next few weeks.
This consolidation greatly reduces vault exit costs as vault / customs clearance and armored transport costs will be spread over much larger shipments, allowing us to waive the usual SGD 299 fixed per-delivery fee. Furthermore, October is roughly six months away so you will only be charged a prorated minimal – if any - storage fees as we offer six months of free storage for every parcel ordered through S.T.A.R. Storage. So upon delivery you will only need to pay a flat administrative charge, equal to 0.5% of the purchase value of the bullion.
To take advantage of this promotion by late September / early October simply select your parcels though the online S.T.A.R. Storage interface and choose to collect the parcel at our Certis Cisco depository. We will send a reminder to all S.T.A.R. Storage customers about this delivery option – including the waived delivery fee - as we approach October.
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