Freeports are in the news again. When discussing them keep in mind that 'freeport' is not really a clearly defined term. What they do and how they work is entirely up to the regulation surrounding the concrete model /1
As a customs simplification tool freeports are no longer the miracle tool they once were or seemed to be. Because there are simpler tools available in modern custom law. But freeports can be made to do other things (remember: not clearly defined) /2
As a concrete example for the UK model tax benefits come to mind. Companies will have to look at that. /3
Here's the link to freeports stuff gov.uk/guidance/freep… /4
And yes... from a regulatory perspective we can discuss what the point of freeports is, as well. If a changed regulation brings benefits - why not apply it to the whole UK? If it does not - why offer it in a freeport? Unless it is about exploring new regulation...
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