Yacht Haven Grande at Island Gardens, an IGY Marinas property in Miami, was designated a Foreign Trade Zone, reportedly the first of its kind in Miami-Dade County.
The marina, located between Miami’s downtown and South Beach districts, includes 50 berths that can accommodate yachts to 550 feet.
FTZs alleviate duties and taxes on foreign-built vessels and foreign-flagged vessels while berthed. The advantage extends to brokers and buyers, as foreign-flagged vessels can be shown for sale within the FTZ. Yacht Haven Grande will have designated slips for this purpose.
“This will be the closest thing to a global marketplace for superyacht sales,” IGY regional director Gili Wojnowich said in a statement. “We are proud to offer a luxe and exclusive venue to showcase the most alluring superyachts on the market.”