A Foreign Trade Zone (FTZ) has been established at Safe Harbor Newport Shipyard in Rhode Island, allowing an area for foreign-flagged vessels to be bought and sold to U.S. citizens. The Newport location is the first marine FTZ outside of Florida.
“There is no limit to how long a yacht can stay in the FTZ, and the designated area will be monitored for security by our team and U.S. Customs and Border Protection,” said Eli Dana, general manager of Safe Harbor Newport Shipyard. “Boat owners in places like New York and Boston now have a great option in New England that has never been available to them before.”
The Newport Shipyard FTZ includes property both on the water and on land, and it can accommodate multiple yachts simultaneously.
Safe Harbor Newport Shipyard is a full-service marina and shipyard with over 3,500 linear feet of dock space that can accommodate yachts longer than 300 feet. Its amenities include a dockside café, ship store, fitness center, and marina vehicles. Safe Harbor Newport Shipyard is host to the Newport Charter Yacht Show, Candy Store Cup Superyacht Regatta, and the Newport Brokerage Boat Show, among other events.