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LAW OF THE REPUBLIC OF MOLDOVA

of March 18, 2004 No. 81-XV

About investments into business activity

(as amended on 09-06-2022)

In view of exclusive importance of investment attraction to the Republic of Moldova, need of their encouragement and protection by creation of stable and equal conditions of legal, social and economic nature for investing activities, need of provision of equal guarantees to foreign and domestic investors, and also the prevention and elimination of the barriers interfering investing activities

Based on Item r) parts (3) article 72 of the Constitution of the Republic of Moldova

The parliament adopts this organic law.

Chapter I General provisions

Article 1. Sphere of regulation

This law establishes the legal, social and economic principles of the organization and development of investing activities in the territory of the Republic of Moldova, determines the rights and obligations of investors, obligations and competence of bodies of the public power in investing activities, the guarantees provided by the state to domestic and foreign investors, methods of permission of investment disputes and also regulations of activities of the companies with foreign investments.

Article 2. Legal basis

(1) Investments in the Republic of Moldova are regulated by its Constitution, this law, other laws and regulations, and also international treaties, one of the parties of which is the Republic of Moldova.

(2) If provisions of international treaties, one of the parties of which is the Republic of Moldova, differ from provisions of this law, provisions of international treaties are applied.

(3) Operation of this law does not extend to the relations connected with implementation of investments by the non-profit (non-profitable) organizations for realization of the socially useful purposes including connected with education, charity, sponsorship, science and religion. These relations are governed by the relevant legislation of the Republic of Moldova.

Article 3. Basic concepts

In this law the following basic concepts are used in value:

investment - set of values (assets) put in any business activity in the territory of the Republic of Moldova including on the basis of the agreement of financial leasing, and also within public and private partnership, for the purpose of income acquisition;

capital investment (costs) - the costs performed by the investor in connection with acquisition and/or improvement of non-current assets which do not belong on result of current period and are subject to capitalization (to reference on value addition of non-current assets);

foreign investment - the investment performed by the foreign investor in any business activity in the Republic of Moldova including the income gained due to this investment and reinvested in the territory of the Republic of Moldova;

investing activities - activities for attachment of investment and implementation of business activity in connection with this investment for the purpose of income acquisition;

body of the public power - the organizational structure or body founded by the law or the normative administrative act and operating as the public power for the purpose of realization of public concerns;

investment dispute - the misunderstanding or disagreement between the investor and body of the public power concerning investments including concerning:

a) investing activities;

b) interpretation of any action or failure to act of body of the public power within this law, other laws of the Republic of Moldova or international law;

c) any agreement which parties are the Republic of Moldova and the investor;

the investor - the physical person or legal entity performing investing activities in the territory of the Republic of Moldova;

the foreign investor - person performing investing activities in the Republic of Moldova namely:

a) physical person - the foreign citizen with the permanent residence in other state or the stateless person with the permanent residence outside the Republic of Moldova;

b) the legal entity founded according to the legislation of other state with the permanent location in this state or the legal entity with the location, the central administration or the main place of activities registered in other state;

c) the organization or association created as a result of the conclusion of the agreement between the states or other subjects of international law.

Article 4. Forms of investments

(1) Investment can be performed in the following forms:

a) property right to personal and real estate, and also other corporeal rights;

b) any right granted based on the law or the agreement, any license or the permission issued according to the current legislation including concessions on research, cultivation, production or investigation of natural resources;

c) the rights following from shares, shares or other forms of participation in commercial societies;

d) money;

e) the rights following from debt obligations or other forms of the obligations to the investor having economic and financial value;

f) intellectual property rights: rights to industrial property (patents for inventions, useful models, trademarks and service marks, trade names, names of places of goods origin, industrial models and drawings, patents for plant varieties, topography of integral chips), copyright and other related rights, trade secret (know-how), goodwill;

g) other contract law including following from public and private partnership.

(2) the Form in which values were invested or change of this form do not affect their nature as investments.

(3) the Income gained as a result of investments and enclosed in business activity in the territory of the Republic of Moldova is also considered as investment.

(4) the Domestic investor performs investments in the form of money only in national currency of the Republic of Moldova, and foreign investors - and in foreign currency.

Chapter II Principles of implementation of investments

Article 5. Freedom of implementation of investments

(1) Investors can perform investments into all fields of business activity in all territory of the Republic of Moldova according to the current legislation if interests of homeland security are not infringed, provisions of the antitrust law, regulation of environmental protection, health of the population and public order are not violated.

(The Republic of Moldova provides 2) according to the current legislation, international treaties on mutual encouragement and protection of investments, one of the parties of which it is, the mode of complete and permanent safety and protection of all investments irrespective of their form.

Article 6. Nondiscrimination of investments

(1) In the Republic of Moldova investments cannot be exposed to discrimination depending on nationality of the investor, the residence, the location, place of registration or activities, country of source of the investor or investment or for any other motives.

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