Hamilton Foreign Trade Zone
The Hamilton Foreign Trade Zone provides companies with information on an array of incentive programs.
Through the Hamilton Foreign Trade Zone, companies can take advantage of numerous financial incentives. There are several programs specifically designed to help companies maneuver efficiently and effectively when exporting product, whether through duty deferral programs through the Canada Border Services Agency or tax relief programs through the Canada Revenue Agency.
Similarly, the Province as well as the Federal Government deliver other programs that may be beneficial to your existing business; offering a diverse expanse of programs suitable to meet the needs of today’s business community.
The Duty Deferral Program has three components/programs. You can utilize the programs in a manner that suits your business needs, whether it is a combination of one or all the program components. All three programs assist with the Duty portion of exporting products.
The Customs Bonded Warehouse Program
The Customs Bonded Warehouse Program enables you to defer paying all duties and taxes on goods until the goods are released for Canadian consumption or exported. A customs bonded warehouse is a licensed and regulated facility used to store imported goods before the Canada Border Services Agency releases them, and imported and domestic goods destined for export.
The Duties Relief Program relieves you from having to pay duties on imported goods if you will eventually re-export the goods either in the same condition or after using, consuming or expending them to process other goods.
The Drawback Program has the same advantages as the Duties Relief Program. The only difference is that the Drawback Program is for people who have already paid the duties and are asking for a drawback (refund) of those duties as authorized under the Customs Tariff.
CRA programs offering assistance include:
Export Distribution Centre Program (EDCP)
The EDCP is administered by the Canada Revenue Agency (CRA). The program is intended to benefit export-oriented businesses that import goods and/or acquire goods in Canada, process them to add limited value and then export them. The “limited value” criterion is a key factor here, since the EDCP is not intended for companies that manufacture or produce new products for export. For more details, please follow the link: EDCP
The Exporters of Processing Services Program (EOPS)
Administered by the CRA, the EOPS program relieves participants of the obligation to pay GST/HST on imports of goods belonging to non-residents, provided that these goods are imported for processing, distribution or storage and are subsequently exported. Thus, participation in the program helps EOPS program participants increase cash flow and reduce operating expenses. For more details, please follow the link: EOPS
For Information on other Municipal Provincial and Federal Programs
Please follow the link by clicking here
Incentive programs described above are subject to cancellation and/or modification at any time. Applicants should contact The Hamilton Economic Development and/or their local Hamilton municipality to obtain the most up-to-date information on incentive programs.
For general enquiries please contact Brian Morris
905-546-2424 ext. 5602
email Brian.Morris@hamilton.ca
or fill out the form below