Tax-Free International Hub
YEN GROUP is a Foreign Trade Zone. Understanding your timeline and the criticalness to receive your tooling and parts in a timely manner is really important to us.
Working with YEN GROUP allows benefits without being burdened with the paperwork. As a Foreign Trade Zone, we are a holding tank for foreign items until it’s entered into the U.S. Commerce. We have a Customs Broker on staff allowing us to work directly with the shippers and completing all necessary paperwork, saving time without utilizing additional resources. We track each shipment from door to door ensuring our customer needs are being met. The shippers we work with understand the time sensitivity of our products and work well to be sure our timelines are met.
Foreign Trade Zone Advantages
From large manufacturers to individuals, any size importer or exporter can take advantage of a foreign-trade zone (FTZ). However, many companies are unaware of the sizeable cost savings and other benefits they can achieve by taking advantage of an FTZ program. Utilizing an FTZ can significantly reduce costs from customs duties, taxes and tariffs; improve global market competitiveness; and minimize bureaucratic regulations. Advantages include:
- Deferral, reduction, or elimination of certain duties.
- Relief from inverted tariffs.
- Duty exemption on re-exports.
- Duty elimination on waste, scrap, and yield loss.
- Indefinate storage and waived customs duties on zone-to-zone transfers.