Free Port definition

Free Port means a duty free area adjacent to a port of entry where imported goods may be unloaded for value-adding activities within the SEZ for storage, repackaging or processing, subject to customs import procedures.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Free Port means an area within a sea port or an inland dry port under the supervision of SLPA and declared by the regulations under this Act.

Free Port means the area declared in terms of Sri Lanka Ports Authority Act No. 51 of 1979 and declared in terms of the Air Navigation Regulation of 1955.

Examples of Free Port in a sentence

The Director of the Free Port may also permit the processing of goods in the Free Port.
When matters affecting their responsibilities are discussed by the Council of Government, the Director of Public Security and the Director of the Free Port shall be invited to attend meetings of the Council and to express their views.
Currently, the Beijing Free Port is in the early stage of development.
The Shipping business will be divided into two classes and Urbaniza Incorporações E Participações Free Port will operate: Small Handy Size, carriers of 20,000 metric tons deadweight (DWT); and Handy Size, carries of 28,000-40,000 DWT.
The Joint Venture Company will carry out its business operation in the Beijing Free Port and other locations pursuant to the relevant laws and regulations of China and this Contract.
Upon the proposal of the Director of the Free Port, the Council of Government may permit the establishment of new manufacturing enterprises within the limits of the Free Port.
Manufacturing activities in the Free Port shall be permitted to those enterprises which existed in the free zones of the port of Trieste before the coming into force of the present Instrument.
The Beijing Free Port has been authorized by the PRC Ministry of Culture as a “base for China's cultural trade with foreign parties”.
This MoU has purposes to developt the management, construction and development of Sabang area as the Free Trade and Free Port Zone and in Tourism sector.

More Definitions of Free Port

Free Port means an international entry point which has been designated as a tax free area, where all port related services are performed without taxation, and where imported and locally made goods and services are bought and sold without imposition of import duties and sales related taxes; a free port is equivalent to a free trade zone;

Free Port means an island or geographical area aimed at tourism, retail trade, on-site residential and related utilities infrastructure and services; and entitled to Incentives.

Free Port means activities including tourism and retail sales, permit on-site residence, and providing a broader set of incentives and beneﬁts;

Free Port. A restricted area at a seaport for the handling of duty-exempted import goods. Also called a Foreign Trade Zone.

Free Port means a duty free area adjacent to a port of entry where imported goods may be unloaded for value-adding activities within the Special Economic Zone for storage, repackaging or processing, subject to customs procedures and “value adding” or “value added” includes the enhancement of, packaging or re-packaging of and beneficiation added to a product before the product is offered to the end-user.

Free Port means an area within a sea port or an inland dry port operated under the supervision of the Sri Lanka Ports Authority and declared by regulations under this Act;