KIP Definition

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KIP is a currency of Laos.

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FREE TRADE ZONE (FTZ) is an area, usually a port of entry, designated by the country for duty-free entry of goods. As long as the goods do not go into the country from the FTZ, no duty is assessed. While in the FTZ, goods may be processed, packaged, serviced or displayed.

INCORPORATION is a legal process through which a company receives a charter and the state in which it is based allows it to operate as a corporation.

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