Geneva Freeport

Common card · No. 434130

Geneva Freeport (French: Ports Francs et Entrepôts de Genève SA) is a warehouse complex in Geneva, Switzerland, for the storage of art and other valuables and collectibles. It is the world's oldest and largest freeport facility, and the one with the most artworks, with 40% of its collection being art with an estimated value of US$100 billion. The freeport became the preferred storage facility for the international elite due to the opacity of Switzerland's storage and customs laws, but has since come under scrutiny for its complicity in the looted antiquities trade and money-laundering schemes. The facility's holdings, especially those possibly related to tax avoidance, have been subject to increasing scrutiny since the release of the Panama Papers in 2016. Recent laws passed in Switzerland have aimed at increasing the transparency of the freeport's contents, discouraging long-term storage there. The freeport has been described as "a trailblazer in the luxury freeport business", as such...

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