Under Law No 550-VIQD, dated 22 June and effective 17 July 2022,
the following amendments among others are introduced to the regime
of the Alat Free Economic Zone approved into Law of Alat Free
Economic Zone of May 2018. The regime is otherwise known for
ringfencing the Zone and the regulation within from applicability
of the laws of the Republic, the principal economy. At the same
time, coming into effect of selected provisions of the Law remains
pending promulgation by the Zone authority of the relevant internal
rules:
- previously, a resident of the Zone was any individuals residing
there; now, except as the Zone administration determines otherwise,
the residents are individuals not engaging in business holding a
permit to reside in the Zone
