Save Money With Our Foreign Trade Zone And Outsourcing
- Published: Monday, 25 November 2013 10:29
- Written by Constance Blair
Technology Ventures Inc (TVI), a well recognized and one of the fastest growing small businesses by Inc. 500, has come up with an idea that will help exporters gain maximum profit from setting up in a Foreign Trade Zone. Exporters now have the auspicious opportunity to save their dollars with Technology Ventures Inc's foreign trade zone and outsourcing. The biggest of all benefits an exporter can have is that they do not need to pay any custom duty on a contribution to manufacture final products for foreign market. Also, there is no need to go through the procedures with Customs. Foreign trade zone allows companies to function on their regular to-do list with no worries about Customs holding up their inbound and outbound.
Functioning, within zone consent of exporters, to find a way around shortcoming, the critical and mind-numbing course of action that company in service from the outer surface of a zone usually applies for the repayment of the custom duties, they salaried on bring in inputs subsequent to exporting their final and finished goods. Companies using zones for allocation procedure have the benefit of comparable advantage on imports that are then re-exported.
Apart from increasing competition among companies, foreign trade zone helps a significant hand in flourishing the economic growth and job opportunities for companies. Foreign trade zone brings significant development in your company in terms of financial growth, quality improvisation and brand building.
Highly soaring growth in zone exports is the major witness of success and popularity of foreign trade zones. Dan Griswold, the president of the National Association of Foreign Trade Zones, believes that setting up in a foreign trade zone is indeed a very simple and easy process. You just need to recognize the nearest possible foreign trade zone to you, for whichthe FTZ board web site can help you to find the suitable one. Also, you can make a call on NAFTZ office, and you can get to know if you exist within the service area of zone or not.
According to Griswold the best way to work is to work with the local grantee. This will help you to subsidize your application to the foreign trade zone board. Submissions or grants for manufacturing are granted within a time period of 120 days, which counts more than 80 percent of the time. FTZ’s are majorly categorized into general-purpose zone and sub-zones. General-purpose zones are mostly situated at ports or industrial parks, and they have to be accessible to multiple users. The biggest organizations in general functionalize their own sub-zones. Companies, which functions within a zone, are bound to pay an annual fee to the grantee. Despite the type of activities operators perform, the fee is equal and fair for all the operators within a zone.
Still wasting your time? Get up and get ready to adopt the foreign trade zone to earn more and pay less. For more details, feel free to call TVI’s Foreign Trade Zone Department at 586-573-6000 or you can complete our online request form by clicking here.
We look forward to serving you.