Foreign-Trade Zone Space Available
Bayshore Fine Art Storage is now Foreign-Trade Zone (FTZ) certified by the United States Customs and Border Protection service
A foreign-trade zone is a designated location in the United States where companies can use special procedures that help encourage U.S. activity and value added – in competition with foreign alternatives – by allowing delayed or reduced duty payments on foreign merchandise, as well as other savings (source https://enforcement.trade.gov/ftzpage/info/zone.html).
Benefits to users of a Foreign Trade Zone include:
- Duty Exemption. No duties on or quota charges on re-exports.
- Duty Deferral. Customs duties and federal excise tax-deferred on imports.
- Inverted Tariff. In situations where zone production results in a finished product that has a lower duty rate than the rates on foreign inputs (inverted tariff), the finished products may be entered at the duty rate that applies to its condition as it leaves the zone (requires prior authorization).
- Logistical Benefits. Companies using FTZ procedures may have access to streamlined customs procedures (e.g. “weekly entry” or “direct delivery”).
- Other Benefits. Foreign goods and domestic goods held for export are exempt from state/local inventory taxes. FTZ status may also make a site eligible for state/local benefits which are unrelated to the FTZ Act.
As much as art dealers, galleries, auction houses, collectors and others appreciate the tax advantages we offer, our secure, climate-controlled facilities are equally important. Bayshore Fine Arts Storage deploys state-of-the-art security strategies, minimizes touchpoints, and ensures optimal storage conditions. Yet for all that, a client’s art is always available for his or her on-site inspection.
Safe, secure, discreet, and foreign trade zone. Bayshore Fine Art Storage offers it all.
AXA & CHUBB Approved
About Bayshore Fine Art Storage
We are confident that Bayshore’s state-of-the-art facilities are the right choice for the storage of your fine art collection.
901 Dawson Dr, Newark, DE 19713