Dubbed the "Fort Knox of Asia," the archive attracts not only art collectors but also cryptocurrency billionaires, tech giants and many hidden capital flows from China, India and Southeast Asia.
Le Freeport is located close to Changi Airport, allowing assets to be transferred from chartered aircraft to the storage facility within minutes, bypassing the usual customs process. This is a significant advantage for those who frequently travel or trade assets between countries. Inside, the warehouse is strictly controlled in terms of humidity, temperature and military -grade security, suitable for storing valuable paintings, rare watches, antique wines and precious metals.
In addition, Le Freeport is distinguished by its exemption from import duties, VAT and capital gains tax while assets are in storage. This significantly reduces the cost of ownership and transaction for high-value items.
Founder, Pioneer
Yves Bouvier, a Swiss entrepreneur and art logistics expert, founded and developed the Le Freeport concept in Singapore in 2010. Under his leadership, Le Freeport quickly became the region's leading storage center, combining modern security technology, classy design and sophisticated asset management processes.
Le Freeport's transfer of shares to Asian investors also shows a shift in line with the regional context, where the super-rich class is growing strongly and needs a worthy storage space.
Chinese Crypto Billionaire Buys Out Le Freeport
In 2022, Le Freeport Singapore was acquired by Victory Securities, a company linked to Jihan Wu, co-founder of Bitcoin mining company Bitmain and current CEO of Bitdeer. The deal was worth more than $28 million, according to Bloomberg.
Jihan Wu is one of China’s most prominent crypto billionaires. With a strategic vision for wealth preservation during the volatile crypto market, he has rapidly expanded his portfolio into stable physical assets such as gold bars, rare paintings, limited edition watches and vintage wines.
In September 2022, Jihan Wu, through Victory Securities, acquired the entire Le Freeport Singapore for $28.4 million, making it part of the global physical asset ecosystem he built.
The acquisition of Le Freeport is not only financially strategic, but also reflects a trend in Asia’s emerging tech scene: taking digital assets and storing them in physical form for long-term storage in spaces with superior security and regulatory standards. Singapore, with its stable legal system and globally connected location, has become a reliable anchor for that vision.
China's rich and the wave of asset migration
Since 2015, Le Freeport has seen a strong wave of interest from Chinese collectors. Singapore is considered an ideal destination thanks to its stable tax policy, transparent legal framework and convenient global transportation infrastructure. For the Chinese elite, storing assets at Le Freeport is not only to preserve value but also a stepping stone for future international transactions.
Many individuals choose Le Freeport as a two-in-one solution: both preserving assets in optimal conditions and being ready to serve the purpose of displaying, transferring or appraising through international partners. Some paintings worth tens of millions of USD have been made directly here without moving the objects, through reputable brokers and large auction houses such as Christie's or Sotheby's.
Besides the competition, collections of Patek Philippe watches, uncut diamonds or vintage Bordeaux wines are also frequently chosen by mainland collectors to be stored here. Le Freeport is not only a storage place but also becomes part of a global personal finance strategy, helping assets move across borders while maintaining absolute privacy.
Indian tech billionaires and Southeast Asian startups
Not only Chinese, Indian tech billionaires and Southeast Asian startup founders are also turning to Le Freeport to store their assets. According to the Financial Times, they are storing precious stones, limited edition Patek Philippe watches, gold bars and expensive works of art here as part of a strategy to diversify their asset portfolios.
Storing assets at Le Freeport allows these individuals and organizations to protect the value of their assets against market fluctuations while maintaining absolute confidentiality. Some founders of technology companies in the region, after IPO or selling their companies, have put a portion of their assets into this vault to manage their personal finances on an international level.
Le Freeport does not disclose the identities of its clients. However, international auction houses reveal that a growing number of Southeast Asian collectors and businessmen are requesting that their assets be shipped to Singapore rather than back home. Artworks, rare watches or wine collections are often shipped directly to Freeport after purchase.
According to The Art Newspaper, demand for storage in Singapore has increased sharply during the pandemic, as many wealthy people seek safe places for their valuable assets.
Source: https://vietnamnet.vn/le-freeport-va-gioi-sieu-giau-chau-a-ai-dang-gui-tai-san-o-day-2418872.html
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