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Promotion and protection of Pakistani investments in Italy

Lawyers for Pakistani companies in Italy

Promotion and protection of Pakistani investments in Italy

 

 

 

 

 

 

 

 

The agreement between Italy and Pakistan on the promotion and protection of investments was signed in Islamabad on July 19, 1997.

For the purposes of the Agreement, the term investment shall be construed to mean any kind of propperty invested after September 1, 1954, by a natural or legal person being a national of one Contracting Party in the territory of the other, in conformity with its laws and regulations.

Without limiting the generality of the foregoing, the term investment includes:

- movable and immovable property and any other rights "in rem", including real guarantess on other's property;

- shares, debentures, equity holdings and any other negotiable instruments or documents of credit, as well as government and public bonds;

- credit for sums of money or any right for pledges or services having an economic value connected with investments;

- copyright, commercial trade marks, patents, industrial designs and other intellectual and industrial property rights, know-how, trade secrets, trade names and goodwill.

About the term investor, it shall mean any natural or legal person being a national of a Contracting Party who effected, is effecting or intending to effect, investments in the territory of the other Contracting Party.

According to the Agreement, both Contracting Parties shall encourage investors of the other Party to invest in their territory, and shall authorize these investments in accordance with their legislation.

Both Contracting Parties shall ensure fair and equitable treatment of the investments of investors of the other Contracting Party.

Should investors of one of the Contracting Parties incur damages or losses in their investments in the territory of the other Contracting Party, due to war or other forms of armed conflict, states of emergency or other similar events, the Contracting Party shall offer adequate compensation. 

Investments of investors of one of the Contracting Parties shall not be directly or indirectly nationalized, expropriated, requisitioned or subjected to any measures having similar effects in the territory of the other Contracting Party, except for public purposes or national interest.

For more information, please contact Lawyers in Italy

Published on 10 October 2013

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