artfreeports.com

Let’s face it: art freeports are the new museums.

After the Geneva freeport reached its maximum capacity (and insurances refused to issue new insurance for art kept there) the same investors decided to open two new state-of-art art storaging facilities, both located in freeports: Singapore and Luxembourg.

As this is a quite lucrative business, this opened the door to a frenzie of new openings in many countries.

Factors to be considered in choosing a freeport to store art do not only include optimal conditions for art storaging (temperature, humidity and luminosity control), but also tax and legal issues such as import duties, disclosure of ownership, and so on.