What is a duty free zone?
A Foreign Trade Zone or Free Trade Zone (FTZ) is an area within a country (a seaport, airport, warehouse or any designated area) regarded as being outside its customs territory where importers may bring goods of foreign origin without paying customs duties and taxes, pending their eventual processing, transshipment or re-exportation.
Do I need a business license in order to shop there?
You will interacting with manufacturers, distributors, importers and exporters. You will need the proper business documentation in order to set up accounts and buy.
Are the duty free zones listed here open to the public?
Some of the duty free zones are open to the public, just like any mall. However you will need a business license and tax number to buy. Those complexes normally have condos, apartments and hotels within the complex to make it easier to spend extended times there to do business or buy.
What are the benefits to buying business inventory in a duty free zone?
Many of the larger complexes house hundreds or thousands of sellers. They have their showrooms there and their warehouses. It makes it easier to quickly comparison shop for the best wholesale deal while being able to physically browse the product lines. Once you have visited the duty free zone once, and make your contacts may have online, fax, or phone orders for repeat orders..
What are the benefits to locating my business in a duty free zone?
Some of the benefits are reduced operating costs, increased cash flow, streamline customs procedures, saving on customs expenses, duty deferral on imports, duty elimination on waste, scrap and yield loss, deferral on duty import fees until the goods are sold within the country or exported and many others.
