free port

plural free ports · alternative freeport

1. A port or other area with relaxed jurisdiction of customs, tax rule or related national regulations.

   1 more example

   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.

   2016 January 31, Sam Knight, “The Art-World Insider Who Went Too Far”, in The New Yorker, →ISSN, archived from the original on 17 Apr 2016

   Synonyms: entrepôt