Benefits of FTZ Subzones
Tri-Link’s ability to establish FTZ Subzones on private premises’ can benefit companies in several ways. As a Foreign Trade Zone Grantee and General-Purpose Operator (GPO), Tri-Link is authorized to establish a Subzone if certain conditions are met and approved by the local Port Authority.
What is a Foreign Trade Subzone?
A Subzone is a single firm site designated for a special purpose, typically manufacturing, under Zone procedures. A Zone Grantee (Tri-Link) may apply for Subzone status on behalf of a firm when the operations of the firm cannot be accommodated within the existing General-Purpose Zone.
FTZ Subzone Benefits
Tri-Link can help your company reap the benefits of establishing a Subzone, such as cutting costs, improving cash flow, and expediting exporting. Here is a list of the specific benefits of utilizing a Subzone:
- Store your in-bond goods free of duty or excise taxes
- Export transiting goods free of duty and excise taxes
- Store goods as long as you wish (bonded warehouses allow just one year of storage)
- Duty and excise taxes are paid ONLY when the merchandise leaves the FTZ for consumption
- Heightened security requirements provide maximum protection against theft
- Goods entered into an FTZ for labeling, repacking, manipulation, or to be combined with other products (domestic or in-bond), can then be imported and/or exported to other countries
- Items in an FTZ can be mixed with other items, relabeled, and then exported to other countries with no need for a Customhouse Broker or the payment of duty or taxes
Let Tri-Link Be Your Guide
Tri-Link has 30 years of experience and consulting services. This enables us to quickly access the potential for success and take the necessary steps to make it so. To discuss the possibilities, cost savings, and other benefits available Contact us.
Published on December 5, 2019.