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What are the types of Foreign Trade Zones?

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What are the types of Foreign Trade Zones?

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There are two types of foreign trade zones: General Purpose Zones and Subzones. General purpose zones are usually located in an industrial park, on raw land or in port complexes whose facilities are available for use by the general public. Subzones are sites sponsored by a general purpose zone grantee on behalf of an individual firm or firms. Subzones are single-purpose sites for operations that cannot be feasibly moved to, or accommodated in, a general purpose zone; e.g., oil refineries, automobile manufacturers. What may be placed in an FTZ? Any foreign or domestic merchandise not prohibited by law, whether dutiable or not, may be admitted to a foreign trade zone. Conditionally admissible merchandise is merchandise subject to permits or licenses, or that must be reconditioned to bring it into compliance with the laws administered by various Federal agencies before entering the United States. Because zones are considered outside the Customs territory, requirements that would otherwise

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