Effective

LAW OF THE REPUBLIC OF ARMENIA

from July 31, 1994 of No. ZR-115

About foreign investments

(as of October 5, 2000)

It is accepted 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 directed on ensuring protection of the rights, legitimate interests and property of foreign investments, creation of preconditions 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 main 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 permanently living outside of 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 resources and intellectual values which are directly put by the foreign investor to the sphere of the Republic of Armenia performed in the territory of business or other activity for the purpose of profit earning (income) or achievement of other useful result.

"The entity with foreign investments" - the entity of any organization-legal category created according to the legislation of the Republic of Armenia, the founder or which participant 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 the international treaties concluded by the Republic of Armenia, establish other rules, than what contain in this Law, in appropriate cases are applied rules of international treaties.

Article 3. Types of foreign investments

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

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

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

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

г) in the form of cash requirements and the right to claim of the obligation fulfillment having contractual value;

д) in the form of any right to of value intellectual property;

е) 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;

ж) in the form of paid services;

з) any kinds of the investments which have not been forbidden by the legislation of the Republic of Armenia;

 

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