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LAW OF THE REPUBLIC OF ARMENIA

of July 31, 1994 No. ZR-115

About foreign investments

(Last edition of 27-04-2007)

It is accepted by National Assembly of the Republic of Armenia on July 31, 1994

This law determines the legal, economic and organizational basis of implementation of foreign investments in the territory of the Republic of Armenia and is aimed at providing protection of the rights, legitimate interests and property of foreign investments, creation of premises for attraction of foreign material and financial resources, implementation and effective use of advanced technologies of managerial and organizational experience.

Section I. General provisions

Article 1. The basic concepts used in this Law

"Foreign investor" - the foreign state, any foreign legal entity, the foreign citizen, the stateless person, the citizen of the Republic of Armenia who is constantly living outside the territory of the Republic of Armenia, and also the international organization performing investments in the Republic of Armenia according to the legislation of the country of the location.

"Foreign investment" - any kind of property, including financial investments and intellectual values which directly are made by the foreign investor in the sphere of the business or other activity performed in the territory of the Republic of Armenia for the purpose of profit earning (income) or achievement of other useful result.

"The company with foreign investments" - the company of any organization-legal category created according to the legislation of the Republic of Armenia the founder or the member of whom is the foreign investor.

Article 2. Legal regulation of foreign investments

The relations connected with foreign investments in the Republic of Armenia are regulated by this Law, and also other legal acts and international treaties of the Republic of Armenia.

If other rules are determined by the international treaties signed by the Republic of Armenia, than those which contain in this Law, in appropriate cases rules of international treaties are applied.

Article 3. Types of foreign investments

Foreign investors in the territory of the Republic of Armenia can perform investments:

a) in foreign currency, in currency other values, in national currency of the Republic of Armenia;

b) personal and real estate (structures, buildings, equipment and other material values) and any related property right;

c) the shares, bonds, other securities established by the legislation of the Republic of Armenia;

d) in the form of monetary claims and the right to claim of the obligation fulfillment having contractual value;

e) in the form of any right to the intellectual property which is of value;

e) in the form of the right to implementation of economic activity, stipulated by the legislation or the agreement of the Republic of Armenia, including in the form of the right to investigation, production, conversion or operation of natural resources;

g) in the form of paid services;

h) any kinds of the investments which are not prohibited by the legislation of the Republic of Armenia;

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