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Agreement between the Government of the Russian Federation and Government of the Republic of Lithuania on encouragement and mutual protection of capital investments

of June 29, 1999

The government of the Russian Federation and the Government of the Republic of Lithuania which are hereinafter referred to as with Contracting Parties

wishing to create favorable conditions for implementation of capital investments of investors of one Contracting Party in the territory of other Contracting Party,

recognizing that encouragement and mutual protection of capital investments on the basis of this agreement will promote development mutually advantageous trade and economic, sci-tech cooperation,

agreed with the following:

Article 1. Determinations

For the purposes of this agreement:

1. The term "investor" means concerning each of Contracting Parties:

a) any physical person who is the citizen of the state of this Contracting Party according to the legislation of this Contracting Party and competent to perform capital investments in the territory of other Contracting Party according to the legislation of the last Contracting Party;

b) concerning the Russian Federation:

any legal entity created or founded according to the legislation existing in the territory of the Russian Federation provided that this legal entity is competent to perform in accordance with the legislation of the Russian Federation capital investments in the territory of the Republic of Lithuania;

concerning the Republic of Lithuania:

any company founded and registered in the territory of the Republic of Lithuania according to its legislation.

2. The term "capital investments" means all types of property which invest the investor of one Contracting Party in the territory of other Contracting Party according to the legislation of the last, and includes, in particular, but not only:

a) personal and real estate, and also appropriate property rights;

b) shares, deposits, bonds and other forms of participation in the companies and companies;

c) requirements for money which invest for creation of economic values, and the requirement of any activities having economic value and connected with capital investments;

d) exclusive rights on intellectual property items (copyright, the rights to inventions, industrial designs, models, trademarks, service marks, goodwill and know-how);

e) the rights to implementation of economic activity granted on the basis of the law or the agreement, including, in particular, the rights to investigation, development, production and operation of natural resources.

No change of form in which property invests or reinvested influences nature of capital investments provided that such change does not contradict the legislation of the Contracting Party in the territory of which capital investments are performed.

3. The term "income" means the amounts received as a result of capital investments according to Item 2 of this Article and includes, in particular, but not only: profit, capital gain, dividends, percent, license, commission and other fees.

4. The term "territory" means the territory of the Russian Federation or the territory of the Republic of Lithuania, including the corresponding their exclusive economic zone and the continental shelf in which the relevant state can perform the sovereign rights and jurisdiction according to international law.

5. The term "legislation of the Contracting Party" means the legislation of the state of the Contracting Party concerning both Contracting Parties.

Article 2. Encouragement and protection of capital investments

1. Each Contracting Party encourages investors of other Contracting Party to perform capital investments in the territory and allows such capital investments according to the legislation.

2. Each Contracting Party guarantees to investors of other Contracting Party according to the legislation complete protection and safety of the capital investments performed by investors of other Contracting Party.

Article 3. Mode of capital investments

1. Each Contracting Party provides in the territory to investors, the capital investments performed by investors of other Contracting Party, and activities in connection with such capital investments the fair and equal mode excluding application of measures of discrimination nature which could interfere with management, content, use, ownership and the order of capital investments.

2. The mode mentioned in Item 1 of this Article is, at least, at least favorable, than the mode which the Contracting Party provides to capital investments and activities in connection with such capital investments of own investors or investors of the third state.

3. Each Contracting Party reserves the right according to the legislation to determine industries of economy and field of activity in which activities of foreign investors are excluded or limited.

4. The regime of the most favored nation provided according to Item 2 of this Article does not extend to benefits which the Contracting Party provides or will provide in the future:

a) in connection with participation in the custom, currency and payment unions, free trade areas existing or possible in the future and single tariffs, the total market or other forms of agreements on regional economic integration which participant is or there can be in the future one of Contracting Parties;

b) on the basis of agreements on avoidance of double taxation or other arrangements on the tax matters.

Article 4. Key personnel

1. The contracting party according to the legislation concerning entrance, temporary stay and work of the physical persons who are not citizens of its state permits physical persons which are investors of other Contracting Party, and the key personnel (which are leading, administrative, and also technical, having special value for activities of the company), hired by the investor of this Contracting Party to drive and remain in its territory for the purpose of implementation of the activities connected with capital investments.

2. The contracting party in compliance with the legislation permits the investors of other Contracting Party who performed capital investments in the territory of the first Contracting Party to engage any employee of category of key personnel at the choice, regardless of nationality provided that such worker of category of key personnel got the entry visa, temporary stay and work in the territory of the first Contracting Party and that this work corresponds to conditions and temporary restrictions set in the permission issued to such worker of category of key personnel.

Article 5. Openness of the laws

Each Contracting Party for the purpose of assistance to understanding of the laws concerning or affecting the capital investments performed by investors of other Contracting Party in its territory provides openness and availability of such laws.

Contracting parties if necessary communicate by the legislation relating to this agreement coverage.

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