About the company > News and mailing > Jurisdictions news > UK aims to launch freeports

UK aims to launch freeports


				14.02.2020
						

The UK government has launched a consultation on creating up to 10 freeports with special tariff and duty status – an idea ministers argue will fuel growth but critics say could encourage money laundering and other crimes.

The UK government said it was firmly committed to announcing locations this year so that the first could open in 2021. It is proposing zones – which do not necessarily have to be located in a port – where no duty is paid on goods until they enter the full UK market, meaning none at all is paid if they are re-exported from the port.

Other extra freedoms include duties only being paid on final goods, not on any raw materials that are imported into the area and then processed. Businesses would be exempt from filling out full customs declarations on imported goods.

After the 10-week consultation, areas will be invited to bid to become one of the zones.

Source: https://www.gov.uk/government/consultations/freeports-consultation

Back to the list

Quickly and confidentially.
A qualified expert will give you a free consultation by telephone, help to determine the position and make an appointment at any time that suits you.
Call just now by phone: +44 203 608 22 48
E-mail us: london@hbcomp.co.uk


News

05/29/2025 12:38:00

TOP 10 most affordable cities in Europe to study in

The international online translation platform Remitely conducted a ...

Read more

05/27/2025 12:38:00

TOP 10 best countries for living and raising children

The UNICEF Foundation, which protects the rights of children around ...

Read more

05/23/2025 18:42:00

The UK plans to introduce a new investor visa.

The UK government is developing a new visa program for foreign inv ...

Read more