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If you're interested in investing in precious metals in Singapore, Bullion Star is the company for you. They specialize in helping people invest in precious metals from their headquarters in Singapore. Hundreds of different products are available, spanning ten different categories.
So what exactly does Bullion Star have to offer? What services do they provide? Who can benefit from their business? And are they a legitimate company? We've taken a look at the answers to all of these questions.
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About Bullion Star
Bullion Star, also known as Bullionstar, is a Singapore-based precious metals company that helps both local and international investors get started. Whether you're an experienced investor or a beginner, there are advantages to working with an international company.
The company does have an excellent reputation as a good place to buy precious metals. There are certain advantages to Singapore, such as the lack of tax and reporting requirements. The country is also politically stable and protected, so you don't have to worry that anything will happen to your investments.
When you become a customer, you can track your precious metals through an online customer portal. In addition, you can talk to the customer care agents at any time, 24 hours a day.
The goal of the company is to be a one-stop shop for everything to do with precious metals. Not only can you purchase metals, but you can also deposit them, store them, and sell them. If you want your holdings to be put elsewhere, you can withdraw them.
How It Works
Thousands of local and international customers have worked with Bullion Star. There are consistent feedback notes stating that the company is trustworthy and has good customer service. Additional company policies help to increase the trust.
One example is the company's use of five different auditing techniques. By combining all of these techniques, they get the most detailed information about the holdings. Customers know they're getting a razor-precise accurate report.
The company is fully audited, fully registered, and legitimate. They have all the relevant licenses to operate in Singapore. The firm deals with precious metals and products backed by precious metals. They don't deal in any other types of asset.
If you choose to store your purchases with the company, you will continue to have full ownership of the items. They can be removed from the vault at any time. While they are stored in the vault, they will be subject to tax advantages thanks to Singapore's tax system.
There are several distinct advantages to the company's setup. One is that they are able to offer items at low prices, since they don't need to mark the products up. In fact, their gold and silver bars are the only bullion bars that don't have any difference between their selling and buying cost.
You can also purchase and sell precious metals across multiple different jurisdictions. Singapore has no taxes, so you don't need to worry about paying extra. Customers can use their Bullionstar account to monitor their investments and keep cash on hand for future purchases.
Products and Services
Bullionstar operates outside the US, so they have certain tax advantages. Their entire goal is to help their consumers make solid decisions regarding their personal investments. Regardless of whether you're from the US or Singapore, you can get information about how to leverage precious metals to get the future you want.
The majority of the silver and gold available through the marketplace has a 99.9 percent purity rating. However, not every item on the market is eligible for use in a precious metals IRA. If you want to invest in an IRA, you will need to double-check that your purchases comply with IRS regulations.
Precious metals IRAs are tax-advantaged retirement accounts that are exclusive to the US. For many people, a retirement fund is the easiest way to invest in precious metals. But these accounts are subject to strict regulations with regards to storage, custodianship, and the assets held inside.
Bullionstar does not specialize in precious metals IRAs. There are many US-based companies that work to streamline the process of opening this type of account. They might put you in contact with a custodian and get the paperwork taken care of for you. But since Bullionstar isn't familiar with IRS requirements, this isn't their strong suit.
If you want to purchase items from Bullionstar for a precious metals IRA instead of for your own personal portfolio, you'll be on your own. It's better to work with a specialized US company that will be able to help you comply with all relevant regulations.
Bullionstar does have some IRA services. Mainly, they partner with a custodial company called the IRA Club. This is the company you'll be working with if you want to get an account set up.
Fees for IRAs
As mentioned, Bullionstar does not specialize in precious metals IRAs. They sell gold and silver in thousands of different ways. There are metals in their marketplace that comply with IRS regulations, but the company isn't built around precious metals IRAs.
If you want to find out how much a precious metals IRA will cost to set up, it's best to look at IRA Club. This custodial company is the one you'll be working with to create, legalize, and fund your account. They'll also take care of the storage and provide ongoing annual maintenance.
Before you get involved with any IRA company, it's important to have a good sense of the fees they charge. Many people find that there are unexpected fees that cause them to pay more than they expected to. The best companies are extremely transparent and up-front about their pricing.
When you make your purchase, you become the sole owner of your precious metals. You then have the right to do whatever you want with them. As long as they aren't subject to IRS regulations due to being part of an IRA, you can store them wherever you want.
Some people choose to have their metals shipped to them. It is possible for you to do this, no matter whether you're an international or local client. The company will do its best to preserve your confidentiality and adhere to your request.
It's not recommended that you ship the metals to your home, though. In addition to that being a hazardous choice, you might also need to pay taxes and tariffs at customs. Different countries will have different import laws.
You will need to pay a small fee for shipping if you're having the items sent internationally. In addition, you'll be responsible for whatever fees and taxes your country charges upon arrival.
Bullionstar thrives on its storage options. In fact, the company prides itself on being one of the most solid places that you can store your precious metals. The company's environment is safe and supportive, allowing you to keep your metals in storage without worrying about them being compromised.
As has been mentioned, precious metals are exempt from taxes in Singapore. The country also has an astounding amount of political stability. This means that your items will be held in one of the most secure and sheltered places in the world. At the same time, you'll gain maximum profits thanks to the tax advantages.
Since Bullionstar has competitive storage prices and tax advantages, they're often favored by international investors. They simply have more to offer than a lot of the local depositories in the US and the UK.
After you purchase products from the company, how are you supposed to liquidate them? You might be worried that you'll need to take them to a sleazy pawn shop and accept a low price. But that's not the case with Bullionstar, since they're willing to buy back whatever metals you purchase.
As soon as you're ready to trade your metals in for cash, you can let the company know. The company does its best to have enough integrity to keep you from selling back right away. But many people do sell their metals as part of a long-term investment strategy.
Many customers choose to use Bullionstar as their broker when they liquidate their assets. By that point, they often have several years of trust built up with the company. And the company offers competitive market prices when compared to many of the other global dealers.
The buyback program lets you get an easy quote for the metals you want to sell. If they're already stored with the Bullionstar vault, you don't even have to worry about shipping. The entire process is super streamlined and easy.
International Shipping Options
As mentioned, different countries will have different import taxes and fees. You should take these into account when you have a package sent to you. But there are several international countries that can receive packages from Bullionstar.
Every country in North America can receive shipments from the company. So can every country in the UK. Other European countries include Monaco, Germany, Finland, Denmark, Portugal, Luxembourg, Sweden, and Spain. The non-European countries on the list include Japan, Hong Kong, Malaysia, United Arab Emirates, Australia, and New Zealand.
Most international dealers are from one of these countries. Or you might have a secure vault in one of these countries where you'd like to have your assets shipped. If your country isn't on this list, you can contact a Bullionstar customer service representative to find out whether shipping is possible.
Is Bullion Star a Scam?
Bullion Star is not a scam. This company is the premier option for selling precious metals in Singapore. They offer tax-free storage, maintenance, and upkeep. You can also have your metals shipped locally or internationally for a small fee.
The company has all of the relevant licenses and paperwork to operate in Singapore. They also have overwhelmingly positive reviews and an excellent reputation in the precious metals market. Many wealthy investors choose to use their services because they have so many tax advantages.
Because the company is not based in the US, they do not have a Better Business Bureau page. Similarly, they don't have a large presence on Yelp or Trustlink. It's difficult to find third party reviews from clients through the most common sites used in the US.
However, if you look at Google and Facebook, you'll be able to view about a thousand reviews each. The overall Google rating is 4.8 stars out of 5, while the Facebook rating is 4.9 stars out of 5. This indicates that hundreds of customers had an overwhelmingly positive experience, while very few did not.
Some people might prefer to shop with a precious metals dealer that has more third party reviews. That's fair. There are dealers based in the US that have thousands of reviews through Trustpilot, Trustlink, and the BBB. If transparency is a concern, these might be a good choice.
Pros & Cons of Bullion Star
Overall, Bullion Star is a reputable and impressive company. Whether you're an international investor looking for tax advantages, or you're a local investor who wants to know about the precious metals industry in Singapore, the company is worth a look.
You can choose from products spanning multiple different categories. The company prides itself on providing excellent gold and silver products. Once you've made a purchase, you can either have it shipped to you or stored with the Bullionstar storage options.
The company does partner with an IRA custodian for people who want to set up IRAs. However, you might have an easier time working with a specialized dealer in the US. US-based dealers have a better sense of the paperwork necessary to get an IRA set up with the IRS.
In addition, this might not be the best choice if you want your metals to be shipped over international lines. You will be subject to whatever taxes and tariffs are set up in your country. It's also less secure to ship the items than to simply store them in a solid vault.
Although we do think that Bullion Star is a solid company, we believe that there are better companies out there to make your investment with (especially if making a larger investment).
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