Freeport Singapore. Opportunities for Russian collectors
ARTinvestment.RU   28 марта 2013

Interview with Tony Reynard (The Singapore Real Estate) and Christian Poly (Fine Art Logistics)

Singapore - an island city-state, which borders the strait with Malaysia. It is almost equator: no winter and summer, year-round average temperature there - 26-28 degrees. Water is always at 30 degrees. Would have lived and enjoyed themselves. But something they can not sit still. In the 1960s, began to modernize, it received for the economy, crime, corruption, quality education, affordable mortgages.

As a result, we have what we have. 50 years ago a poor Asian country now heads the global rankings on the business and investment climate in Doing Business. And on this indicator Singapore is unreachable which year in a row. For comparison, in Russia this rating now ranks 112th place, and purpose - in 2018 to enter the top-20.

What else is important? In Singapore there are direct flights - flying, in particular, Singapore Airlines. The flight from Domodedovo is 10.5 hours. Return ticket costs 33-64 thousand rubles. Get twice as much to fly with a connection to Luxembourg , but the time is comparable.

In this light version of the appeal of Russian collectors in the duty-free special storage Singapore does not look so exotic. On versions with Singapore Freeport, pricing and features provided by Russian collectors portal ARTinvestment.RU told the first person in this business. Graciously answered questions Tony Reynard - Chairman of Singapore Freeport Real Estate , and Christian Poli - Director tenant Fine Art Logistics , providing services directly to collectors.

ARTinvestment.RU: What saves tenant - owner of the paintings using Freeport? What is the "duty free»?

Tony Reynard : It depends on the place of residence of the customer. All indirect taxes and customs duties are not collected until these charges taxable item is in the walls of the Singapore "Freeport».

AI: What are the requirements to the size of Freeport presents paintings? Sometimes, for some reason that customers remove the frame? To save space, or have any requirement on this account?

T. P .: We can place a large framed picture of up to 3 meters. Almost all of our rooms have high ceilings 5-5.5 meters.

AI: It is known that some galleries prefer to rent an office in Freeport. Do you have the chance, and approximately how much is the lease?

T. P .: The Singapore Freeport no tenants galleries. Since our area put basic tenants - service providers, and they determine the prices for sublease.

AI: Who can go to Freeport? Only tenants or guests with a pass too?

T. P .: This is an area with a high degree of protection, so the number of visits to a minimum. Think of Freeport as a bank for your valuables.

AI: Can a tenant freely take their stuff from the store?
T. P . Certainly.

AI: Are screening tenants for input and output?

Yes.

AI: What documents are required from a tenant who wants to post a picture in your store?

Christian Poly: We need a packing list or provisional invoice (packing list /pro-forma invoice) with a detailed description of the object in the repository.

AI: What guarantees Freeport provides its tenants?

K. AP: We offer storage, high security and optimal storage conditions, which can also be used as a marketplace free from indirect taxes and duties. In addition, we are committed to maintaining the confidentiality of our customers and do not share details of agreements with customers to third parties.

AI: What you can rent a narrow safe, the whole room? What is the minimum and maximum area available for rent?

K. AP: available for rent modular and isolated areas ranging in size from 10 to 350 square meters. In addition, we offer a safe and cells of different sizes.

AI: What about cost collectors from Russia annual storage 20 films of less than 80 x 120 cm?

K. AP: The price will depend on where you plan to store items - in a separate room (private room) or in a combined /general store (mixed /common facility).

AI: What are the least approximate prices for storage in a separate room in the general store?

K. AP: Sample prices for storage are:
1. A separate room with an area of ​​about 10 square meters converted from Singapore dollars worth about 17.6 thousand U.S. dollars a year.
2. Price similar area leased by the general store, a little over 10 000 thousand dollars a year.

with local tenant charged the additional 7%tax on goods and services. With individuals and companies from abroad, this tax can not be charged.

AI: Does a tenant to provide insurance or insurance is included in the price?

K. AP: show Insurance is optional, and the price of rent storage it is not included. Insurance must be issued separately, evaluation and registration of insurance - it relevant insurance company.

AI: Can a tenant to transfer the right of access to the repository by proxy? For example, in case the Russian client was denied a visa.

K. AP: Yes, you can do so by prior arrangement.

AI: Does Freeport transportation services, including transportation of goods from outside the EU (for example, from Russia)?

K. AP: , of course, we provide transportation services to the subject "and from" - from the packaging, transportation and customs clearance before placing the item in the final paragraph. First, we inspect the technical feasibility of transporting and further on the situation offer the option with the lowest cost.

Questions by Vladimir Bogdanov, AI
Photos : singaporefreeport.com