What is RGR FTZ?
RGR offers Foreign Trade Zone solutions as an FTZ as a physical, secure area in the Miami area within the US, but considered outside of the Customs territory of the United States, and thus items stored in an FTZ are not subject to customs duties while they remain inside the foreign trade zone.
FTZs have gained tremendous popularity over the past five years due to the rising cost of the global supply chain and challenges to the global economy.
Goods may be stored in foreign trade zone indefinitely and allow for actions such as assembly, further processing or product alternation.
What are the benefits of using an FTZ?
Importers that use an FTZ can improve margins, lower inventory carrying costs, and simplify and streamline customs procedures. In addition, with fewer or deferred customs duties and related import fees and taxes, your business may also save money.
Deferred or Reduced Customs Duties
Upon arrival in the US, importers can arrange for their goods to be brought directly to their designated FTZ, where they may assemble, test, or even destroy the items without paying customs duties. Importers are not obligated to pay duties until their items are sold or leave the FTZ to enter the country.
Customs Weekly Estimated Entry Consolidation
Within an FTZ, shipments can be grouped into weekly “consolidated” customs entries, enabling an importer to avoid multiple processing fees for shipments imported into the zone, then ultimately entered into US Commerce, during a one-week period. That can mean less paperwork and cost for your business.