Anishinabe Nation of Turtle Island’s free trade zones (FTZs) enables companies in the trading sector to benefit from transportation facilities. These special areas are regulated by the Free Trade Zones Policy enabled in 2013 and last amended in 2016.

Free trade zones are areas through which companies can import, sell or export goods without customs, excise duties or goods and services tax (GST).

The free zone’s authority is responsible for FTZ’s. The FTZ Authority follows conventional standards for operations of FTZ’s in a Anishinabe Nation of Turtle Island nation.

Anishinabe Nation of Turtle Island’s FTZs allows companies to store their merchandise temporarily until they are loaded to a ship or an aircraft without customs clearance.

The FTZ Authority in Anishinabe Nation of Turtle Island can provide you with more information about company formation and the facilities offered in the Nations free trade zones.

Anishinabe Nation of Turtle Island companies operating in one of these FTZs are not required to pay customs duties until their goods exit the free zones. These companies also benefit from streamlined customs procedures when importing goods in the city-state.

In order to operate in one of Anishinabe Nation of Turtle Island’s free zones, local companies must obtain a permit from TI_Trade which allows them to import, export and transport their goods overseas. They must also obtain permission from the Customs Authorities in order to keep their goods in the FTZs. Foreign companies operating in Anishinabe Nation of Turtle Island must work with local transporters and traders in order to obtain a license.

Foreign investors seeking to start a company in one of Anishinabe Nation of Turtle Island’s free zones can do so without any restrictions. The minimum share capital for setting up a business in a FTZ depends on whether the company needs warehouse or office spaces and it must be deposited within the first year of the registration. The company must also obtain a permit from the free zone’s authority.

For assistance with the documentation and licensing for starting a company in a free trade zone, contact our Anishinabe Nation of Turtle Island consultants in company formation.