Chinese customs officials in Guangzhou have officially issued a registration certificate for the establishment of the first on-water bonded areas for yachts in Guangzhou’s Nansha Marina. The special area will encompass 2800 square meters and will have the ability to host 16 yachts up to 100 feet in length.
The yacht bonded area will store vessels waiting for re-export, imported yachts pending customs duties and tax payment, vessels temporarily placed there by foreign traders and dealer yachts awaiting other customs procedures. Internet monitoring featuring a unified information management system will significantly simplify procedures and increase efficiency. Establishment of such an area will allow bonded warehouse operation to occur directly on the water, which is an ideal solution for larger yachts. This initiative is expected to attract well-known brands to South China and inspire company owners to showcase their products for buyers as well as organize water events and races.
Thanks to this new on-water area, yacht dealers will be able to reduce transportation costs and defer import taxes until buyers commit to sales. Importers and brand dealers will see better cash flow on taxes along with reduced financial pressure. Customers will have more enticement to buy as they will be able to view the actual vessel instead of perusing a brochure and then waiting for months for the yacht to arrive.
The establishment of the on-water yacht bonded area is expected to attract more imported yachts of big sizes to Nansha, while significantly decreasing cost and financial pressure of yacht manufacturers and dealers. Simplification of customs formalities will resolve one of the main issues currently limiting yacht movements in the region, while the presence of the on-water warehouse as a whole should bring new opportunities and perspectives for yacht industry development in Guangdong province.
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