Foreign Trade Zone #89
A Foreign Trade Zone designation is especially useful for companies involved in import or export businesses.
Advantages of a Foreign Trade Zone over a Bonded Warehouse:
- A FTZ is not considered within customs territory. Customs entry is not required until goods are removed.
- All merchandise, whether domestic or foreign are permissible cargo.
- No Customs bond is required.
- Duties are due only upon entry into U.S. Territory.
- Manufacture is permitted with duty payable at the time the goods leave the zone for U.S. consumption. No duty on waste material or on value added in manufacturing. No duties paid on export goods.
- Tariff rate and value are determined at your discretion, either at the time of admission, or when goods leave the zone.
- Storage time is unlimited.
- Sort, destroy, clean, grade, mix with foreign or domestic goods, label, assemble, manufacture, exhibit, sell and repack are allowed operations on merchandise for domestic consumption.
- Customs entry regulations only apply to goods removed for U.S. consumption.
- Application of regulations depends on products and agency involved regarding jurisdiction of other federal agencies.
The Las Vegas Global Economic Alliance provides valuable information on Foreign Trade Zones in general and specific information on Southern Nevada’s Foreign Trade Zone #89 and how you can qualify to be “in the zone.”
For more information on how to use a Foreign Trade Zone designation for your business visit the LVGEA website or call them at 702-791-0000
LVGEA - International-business
For Import and Export Resources and Information contact:
U.S Department of Commerce
Export Assistance Center
400 S. 4th Street, Suite 250
Las Vegas, NV