The Campo de Gibraltar Free Trade Zone offers numerous fiscal and customs advantages to companies involved in international trade. Whether your company imports or exports, it may be eligible for these generous benefits. To find out, read on.
About the Campo de Gibraltar Free Trade Zone
This Free Trade Zone (FTZ) was recently set up in Los Barrios area. Its aim is to provide a central area for import/export companies that wish to take advantage of the proximity of Algeciras Port and low-cost premises.
What is an FTZ?
An FTZ is a designated area within a country where usual customs regulations do not apply. Instead, a FTZ has a specific customs regime, usually offering generous exemptions from customs duty and trade restrictions.
Companies eligible to operate in the Campo de Gibraltar Free Trade Zone
Your company may operate in the FTZ if its activity involves international trade and/or import/export business. You’re eligible for operations between EU member states and third-party countries, e.g. between Spain and the UK, as well as operations within the EU, e.g. between Spain and Ireland.
Companies from all sectors are eligible.
Customs benefits in the FTZ
If your company’s operations involve non-EU goods, the following advantages apply:
- All goods (except those cleared for Free Practice or Consumption) are exempt from import duty.
- Goods are not subject to restrictions or quotas.
- Goods to not need to provide a customs guarantee.
- Goods may remain in the FTZ for as long as necessary.
Fiscal benefits on EU goods
If your import/export activities involve goods from or bound for EU member states, fiscal advantages apply, including:
- Exemption from VAT accounting obligations on all goods not intended for consumption.
- Imported goods bound for another EU member states are exempt from VAT.
- You may dispatch free circulation goods exempt from VAT if linked to the non-customs warehousing regime.
- Importation of goods from the EU may be exempt from VAT.
Other advantages of using the Campo de Gibraltar Free Trade Zone
In addition, the FTZ has these benefits:
- Two docks for all types of cargo including bulk and general.
- Attractive lease rates for warehouse space for companies involved in international trade.
- A secure precinct that has 24h surveillance provided the Spanish police.
- Availability of office space and meeting rooms.
- Onsite Business Park with additional services such as cafés, sports facilities and childcare.
Setting up in the Campo de Gibraltar?
If you like the sound of the FTZ benefits for your company, get in touch with our team.
Costaluz Lawyers has a solid track record of helping foreign businesses relocate and set up in the Campo de Gibraltar. Contact us for a free, non-obligations consultation now. We’re here to help!