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  • FREE TRADE ZONES / WAREHOUSES

    There are two free trade zones in Italy located in Trieste and Venice. Goods of foreign origin may be brought in without payment of taxes or duties, as long as the material is to be used in the production or assembly of a product that will be exported.

    Benefits of a free-trade zone include:

    - customs duties deferred for 180 days from the time that the goods leave
    the free-trade zone to enter another EU country;
    - the goods may undergo any transformation free of any customs restraints;
    - absolute exemption from any duties on products coming from a third
    country.

    The free-trade zone law also allows a company, of any nationality, to employ workers of the same nationality, under that country's labor laws and social security.

    Italy also has numerous general warehouses that are located throughout Italy in all the port areas and cities. There are no limitations as to the type or origin of merchandise that can be stored in free trade zones or bonded or customs warehouses. The time limit for such storage is 5 years. Merchandise deteriorated while in storage can be destroyed without payment of duty.

    The advantage of a free trade zone or bonded warehouse to American firms is having a European base of supply to assure customers prompt delivery and service. Being able to maintain inventory at low cost with a minimum of customs paperwork is also a distinct advantage.

 

 

 

  Copyright By :  Kish Trade Promotion Center  2002