Zones / Warehouses
Venezuela has four free trade
zones. The Paraguana Peninsula Free Trade Zone is for industrial purposes
only, is very small, and is being used by only a few enterprises. Another is
the duty-free area comprised of the entire island of Margarita. The sale of
duty-free merchandise from the island to the mainland is subject to quotas.
In December of 1998 Merida was declared a free trade zone to the producers
of goods and services within the cultural, scientific and technological
areas. The most recent addition to the list is Santa Elena de Uairen in the
State of Bolivar, which became a free trade zone in May of 1999.
Duty-free bonded warehouses are available at ports, airports and in most
major towns. Industrial establishments can also be declared in-bond if these
are used for assembly, completion or improvement of products for re-export.