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FOREIGN TRADE ZONE

Foreign Trade Zone, New Mexico

The Santa Teresa Business Center falls within Foreign-Trade Zone No. 197. Products brought into a foreign-trade zone are afforded privileges with regard to US Customs policies that can result in dramatic operational cost savings. These privileges are summarized as follows:

  • Under the Foreign-Trade Zone Act, foreign and domestic merchandise may be admitted into a foreign-trade zone without:
    • Formal Customs entry
    • Payment of Customs duties
    • general US quota restrictions
    • payment of government excise taxes
    • thorough examination
  • Merchandise brought into a foreign-trade zone may be:
    • stored
    • tested
    • cleaned
    • sampled
    • relabeled
    • repackaged
    • displayed
    • repaired
    • manipulated
    • mixed
    • processing
    • assembled
    • manufactured
    • salvaged
    • destroyed
    • re-exported
  • If the merchandise is re-exported no US customs or excise tax is ever paid.
  • If the merchandise is imported into the US but outside of the foreign-trade zone, US Customs duties and excise tax are due at the time the merchandise is physically removed from the foreign-trade zone. The duty paid is at the rate of the finished product or imported parts whichever is lower.

Importing merchandise into a foreign-trade zone can offer many cost and logistical benefits including the following:

  • Imported merchandise can be stored for an indefinite time period and displayed for potential buyers ensuring a sufficient quantity of marketable merchandise will be available for sale.
  • Imported merchandise can be counted, weighted, tested, repaired, or destroyed prior to the payment of customs duty, ensuring an accurately invoiced quantity of sellable merchandise is brought to market.
  • If imported merchandise will be subject to a quota, such merchandise can be manipulated or processed in such a manner so as to create a product not subject to a quota.

Santa Teresa FTZ Properties

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