Sale marks a significant loss for Bouvier, who paid $70m to build the state-of-the-art facility in 2010

Legal loopholes of secretive customs complexes are in the spotlight again as pressure ramps up on Russian owned assets

Eight mega warehouses announced in the budget will 'unlock billions' in investment, says the government, but they have a tarnished reputation, market analysts warn

Arcis, a high-tech $50m art storage facility in Harlem, opened in 2018 and allowed for tax-free transactions

Increasing numbers of dealers and collectors take advantage of tax-exempt Arcis, the foreign trade zone in Harlem

Labour MP Owen Smith calls the tax-free zones “self-storage for art thieves”

Vast storage facilities for high-value items such as art and cars have stoked controversy

New report deplores the use of freeports to permanently store assets such as art

European Commission president rebuffs German MEP Wolf Klinz's demand for a proper investigation into the management of Le Freeport Luxembourg

German politician Wolf Klinz describes the art storage facility as “high risk” for money laundering and tax evasion