Unlimited Duty-Free, Tax-Free Temporary Imports Growing

Freeports are a growing business and one of the few ways to temporarily import for an unlimited period of time. Used primarily for high-value items such as art or wine, the freeports are established and growing in Switzerland and sprouting up in Luxembourg, Singapore and Beijing. Collectors and dealers find the freeports attractive because of the high degree of security however the tax treatment is also a significant benefit. Freeports offer the unusual advantage over ATA Carnets of providing unlimited preferential duty and tax treatment. Alternately, the merchandise must stay in the freeport unlike carnet merchandise which can travel freely around the country during the period of validity.