How does the bonded warehouse service benefit Asian whisky collectors?

Question

Accepted Answer

Bonded Warehouse Service Offers Enhanced Convenience and Flexibility for Asian Whisky Collectors

Whisky Hammer's new bonded warehouse service in Singapore provides significant advantages for Asian whisky collectors by offering secure storage, flexible collection options, and potential tax benefits. This initiative directly addresses the growing demand for whisky as an alternative asset in the region and aims to streamline the purchasing and ownership experience for a discerning clientele. The service allows Asian customers to safely store their acquired bottles in a controlled environment, enhancing their ability to build or expand their collections with greater ease and confidence.
Secure Storage and Access

The bonded warehouse facility in Singapore enables customers to store their purchased bottles securely and in a climate-controlled environment. Following the purchase from Whisky Hammer and shipment from Scotland, bottles are transferred to the Singapore Bonded Warehouse. A modest entry fee covers the costs associated with maintaining the "under bond" transit, allowing customers to insure and store their whisky indefinitely. This ensures the preservation of the bottles' condition and value, a crucial consideration for collectors.
Flexible Collection and Delivery Options

Customers utilizing the bonded warehouse have several convenient options for retrieving their whisky. They can opt for in-person collection directly from the warehouse. Alternatively, a premium 'white glove' concierge service is available, which facilitates direct hand-delivery of bottles to customers at Singapore Changi Airport, ideal for those transiting through the city. For those not collecting in person or transiting, the service also offers the flexibility of shipping bottles to either a local address within Singapore or an international destination.
Duty and Tax Advantages

The bonded warehouse operates under Singapore Customs' Zero-GST Warehouse Scheme, which allows for the suspension of Goods and Services Tax (GST) and import duties on goods stored within the designated area. This means that GST and duties are only payable if the bottles are taken for local delivery within Singapore. Crucially, when bottles are collected as part of a duty-free concession upon departure from Changi Airport, no GST is incurred, offering a potential cost saving for collectors who frequently travel.

Reading history

Hide →

This history is cleared when the page is closed.

How does the bonded warehouse service benefit Asian whisky collectors?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends