United States : What is a foreign-trade zone (FTZ)?
A foreign-trade zone is a geographical area, including sub-areas, located in (or adjacent to) a United States Port of Entry, authorized by U.S. Customs and Border Protection (CBP). A foreign-trade zone is an isolated, enclosed and policed area operated as a public utility, furnished with facilities for storing, manipulating, manufacturing and finishing goods, and for reshipping them. Merchandise of every description may be held in the Zone without being subject to customs duties or other ad valorem taxes. These special geographic areas are under the supervision of the U.S. Customs and Border Protection under the United States Homeland Security Council. U.S. Customs' oversight of FTZ operations is conducted on an audit-inspection basis known as Compliance Reviews.
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