The new Foreign Trade Zone near downtown San Diego. Courtesy of Marine Group Boat Works In partnership with the Fifth Avenue Landing marina in downtown San Diego, Marine Group Boat Works has activated the newest Foreign Trade Zone in San Diego, the only FTZ dedicated to luxury yachts in California. The new FTZ provides a location for foreign-flagged vessels to be legally marketed to U.S. buyers, without having to pay hefty import fees. “Typically, if a foreign superyacht owner wants to market to American buyers, they must pay about 1.5% of the value of the vessel in Customs import duties and fees upon entry to the U.S. On a $50 million yacht, that’s $750,000 before they even know
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