Becoming a Foreign Trade Zone Can Save You Thousands!
What is a Foreign Trade Zone?
A Foreign Trade Zone (FTZ) allows businesses in designated locations to use special customs procedures when receiving, warehousing, and re-exporting products that reduce or eliminate duty on imports, as well as other savings. By using an FTZ, foreign and domestic merchandise is typically considered to be in international commerce and outside of US Customs territory, thus reducing or eliminating duty on imports.
Benefits of a Foreign Trade Zone
• Duty Deferral
• Duty Reduction
• Duty Elimination
• Streamlined Logistics
• Relief from Inverted Tariffs
• Weekly Entry Savings
• Merchandise Processing Fee (MPF) Savings
Want to Become a Foreign Trade Zone Operator in Miami-Dade County?
Contact Liane Ventura Guerra at firstname.lastname@example.org or (305) 577-5491.
Greater Miami Foreign-Trade Zone, Inc.
Founded in 1976, the Greater Miami Foreign-Trade Zone, Inc. (GMFTZ) is the Grantee for FTZ #32. The GMFTZ, Inc. views the FTZ program, which it administers in its defined Service Area, as an economic development tool capable of providing benefits to companies located in the Greater Miami area as well as to companies looking to locate in the area.
As a Grantee, GMFTZ, Inc. is responsible for providing general management of the zone and ensuring that the reasonable needs of the business community are served through (1) sponsorship of FTZ designation and production applications to the Foreign-Trade Zones Board, with the companies interested in obtaining the FTZ benefits preparing the applications; and (2) sponsorship of FTZ activation and alteration applications filed with Customs & Border Protection, with the companies interested in utilizing the FTZ preparing the applications.
In its role as a Grantee, the GMFTZ, Inc. is responsible for ensuring (1) that FTZ #32 is operated as a public utility, with all rates and charges for all services or privileges within the zone being fair and reasonable; (2) that any entity interested in securing and using FTZ benefits at FTZ #32 be provided uniform treatment under like conditions to all other zone participants; and (3) that the Annual Report to the Foreign-Trade Zones Board be filed in a timely fashion.
Export Documentation Services
Throughout the world, almost all countries require regulatory or shipping certificates from the country that is shipping the goods. The Greater Miami Chamber of Commerce issues the following documents quickly and securely via its online platform:
- Certificate of Free Sale (CFS)
- Good Manufacturing Practice (GMP)
- Certificate of Origin (COO or CO)
The Chamber issues certificates to US-based companies that can prove that they are a US company by providing the correct verification documents. These documents are a requirement to get your product registered with the foreign country and to allow the entry of your goods through Customs. Through its partnership with Fast Track Global Services and it’s online platform Swiftdox, the Greater Miami Chamber can also get your certificates legalized and apostilled online with an expedited timeline.