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Free port

noun

Noun

1
A port or other area with relaxed jurisdiction of customs, tax rule or related national regulations.
"Iris scanners, magnetic locks, and a security system known as Cerberus guard the freeport’s storerooms, whose contents are said to be insured for a hundred billion dollars, but the facility retains a blue-collar feel. […] A freeport offers few tax advantages and scarcely any security features that a standard bonded warehouse cannot provide. But Bouvier’s development in Singapore carried within it two ideas. The first is that freeports will become hubs in the sixty-billion-dollar international art market, destinations in themselves—places for scholars, restorers, insurers, art-finance specialists, consultants, and dealers."
2
a port open on equal terms to all commercial vessels wordnet
3
an area adjoining a port where goods that are intended for reshipment can be received and stored without payment of duties wordnet

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