Foreign-Trade Zone at Safe Harbor Newport Shipyard

Published on December 9th, 2020

A Foreign Trade Zone (FTZ) has been established at Safe Harbor Newport Shipyard in Newport, RI. The FTZ includes property both on the water and on land, and it can accommodate multiple yachts simultaneously. Safe Harbor Newport Shipyard’s FTZ is the only one of its kind in the United States outside of Florida.

“The FTZ permits foreign-flagged vessels to be bought and sold to U.S. citizens right here in Newport, RI, and allows us to provide our high standard of service to even more vessels,” said Eli Dana, General Manager of Safe Harbor Newport Shipyard. “We believe this is a win for the City of Newport, and the State of Rhode Island, yacht owners, yacht brokers, and Safe Harbor Newport Shipyard.

“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. 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.”

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