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Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services.
Free trade areas between groups of countries, such as the European Economic Area and the Mercosur open markets, establish a free trade zone among members while creating a protectionist barrier between that free trade area and the rest of the world.
The Port of New York and New Jersey, U.S., grew from the original harbor at the convergence of the Hudson River and the East River at the Upper New York Bay.. A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers.
Here are 15 real estate terms you need to know. Real Estate Agent Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction.
Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: 100% foreign ownership of the enterprise; 100% import and export tax exemptions; 100% repatriation of capital and profits; Corporate tax exemptions for up to 50 years; No personal income taxes
The Free Trade Area of the Americas (FTAA, or in Spanish-speaking countries the Área de Libre Comercio de las Américas, ALCA) was a proposed agreement to eliminate or reduce the trade barriers among all countries in the Americas, excluding Cuba. Negotiations to establish the FTAA ended in failure, however, with all parties unable to reach an ...
An international zone is any area not fully subject to the border control policies of the state in which it is located. There are several types of international zones ranging from special economic zones and sterile zones at ports of entry exempt from customs rules to concessions over which administration is ceded to one or more foreign states.