Both Dubai and Switzerland are trusted gold hubs — but ADGM Abu Dhabi combines Swiss-grade security with zero-tax efficiency that neither can match. Here's the full comparison.
Request Consultation About LCORE| Swiss Private Vault | Abu Dhabi -- LCORE (ADGM) | |
|---|---|---|
| Governing Law | Swiss Civil Law | English Common Law (ADGM) |
| Sanctions alignment (2022+) | SECO-aligned (EU/US) | UAE neutral -- not joined |
| Asset freeze risk | Yes -- SECO orders possible | Minimal -- UAE separate regime |
| Capital gains tax | 0% federal (private) | 0% -- no CGT in UAE |
| Wealth tax | Cantonal (0.1-0.5%/yr) | None |
| Import duty | 0% | 0% -- pre-customs zone |
| Insurance | Vault-level varies | Lloyd's $200M per event |
| Yield program | Limited (0.1-0.2% pa) | LCORE Storage Programme available |
| DVP settlement | Via bank LC | LCORE DVP -- 2-3 working days |
| Non-USD settlement | CHF standard | AED, RUB, CNH available |
Switzerland aligned its sanctions policy with the EU via SECO (State Secretariat for Economic Affairs) following the Ukraine conflict. Swiss entities -- including banks and vault operators -- now apply EU sanctions packages.
Swiss banks and vaults froze accounts belonging to Russian nationals and entities on the Swiss sanctions list -- the first significant Swiss asset freeze since World War II. A fundamental change in Swiss neutrality doctrine.
Swiss banking secrecy has been progressively eroded since the OECD Common Reporting Standard (CRS). Since 2022, pressure to disclose beneficial ownership to Swiss authorities increased substantially.
UAE has not joined the Western sanctions regime. UAE maintains its own CBUAE sanctions list focused on terrorism and WMD. FATF-clean since February 2024. A genuine neutral -- not conditional neutrality.
ADGM Courts apply English Common Law -- identical to London. For international parties who trust English legal standards, ADGM offers the same protection without the SECO/UK sanctions alignment risk.
LCORE's Storage Programme generates operational income from allocated gold. Swiss private vaults charge storage fees with minimal offsetting income. The LCORE programme converts a cost centre into a revenue position.
Gold migration consultation: Zurich to Abu Dhabi in 7 hours. Minimum $5M. Confidential.