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Lawyers for South African companies in Italy.

The protection of South African business in Italy.

Lawyers for South African companies in Italy.

 

 

 

 

 

 

 

 

In order to protect and promote mutual investment in their territories by private investors, Italy and South Africa signedin Rome on June 9, 1997, an agreement on the promotion and protection of investments.

Pursuant to the Agreement, investment is any asset invested by an investor of one Contracting Party in the territory of the other Contracting Party, in accordance with its laws. In particular, the term investment includes:
- movable and immovable property;
- stocks , shares, bonds as well as government bonds and any other form of credit;
- credits for sums of money or any other contractual obligation having an economic value related to an investment;
- copyrights, trademarks, patents, industrial designs and other intellectual and industrial property rights, know-how, trade secrets, etc;
- any economic rights conferred by law or by contract, as well as any licenses and permits issued in accordance with the laws and regulations for the operation of economic activities, including exploration, extraction and exploitation of natural resources.

The following activities are considered as investment: organization, control, operation, maintenance and disposal of companies, branches, agencies, offices or other facilities useful to the conduct of business; incomes from registration, licenses, permits and other approvals necessary for commercial activities; acquisition, use and disposal of any property, including intellectual property, access to financial markets; the purchase, sale and issuance of shares; purchase of currency necessary for the business; supply, sale and transport of raw materials and finished products.

According to the Agreement, investor means any natural or legal person of a Contracting Party who is making investments in the territory of the other Contracting Party, as well as subsidiaries, affiliates and foreign subsidiaries controlled in any way by the persons or entities mentioned above.  

Natural person is any natural person who is a national of a Contracting State in accordance with its laws. While a legal person is any entity incorporated under the laws of a Contracting Party.

Each Contracting State must encourage investors of the other Contracting Party to make investments in its territory. Investors of one Contracting Party have the right to invest in the territory of the other Contracting Party. 

Each Contracting Party must ensure fair and equitable treatment to investments of investors of the other Contracting Party. Each Contracting Party must ensure that the management, maintenance, use, processing, enjoyment or disposal of investments in its territory by investors of the other Contracting Party, will not be in any way affected by unfair or discriminatory measures. 

Each Contracting Party must facilitate, in accordance with its laws, the entry, stay, work and movement in its territory of nationals of the other Contracting Party and their relatives.

If you need our help, don't hesitate to contact Lawyers in Rome

Please, see also:

Legal assistance for South Africans in Italy

English speaking lawyers in Italy

Special court for foreign companies in Italy

How to appeal visa refusal in Italy

Published on 26 March 2014

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