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Ministry of Justice

Republic of Tajikistan 

 On March 18, 2016 No. 34

LAW OF THE REPUBLIC OF TAJIKISTAN

of March 15, 2016 No. 1299

About investments

Accepted by the Resolution MH MOPT of February 10, 2016, No. 357

Approved by the Resolution MM MORT of March 3, 2016, No. 196

(as amended of the Law of the Republic of Tajikistan of 03.08.2018 No. 1547)

This Law governs the relations connected with implementation of investing activities and determines legal, economic basis of stimulation and state support of investments by means of provision of equal legal regime and guarantee of protection of the rights of investors.

Chapter 1. General provisions

Article 1. Basic concepts

The basic concepts used in this Law:

- investments - capital investments by the investor in the form of tangible and intangible assets in the territory of the Republic of Tajikistan for the purpose of profit earning;

- the investor - physical person or legal entity, and also the organization without formation of legal entity performing investing activities in the territory of the Republic of Tajikistan;

- investing activities - the investment process including stages of preparation, execution and management of the investment projects connected with investment;

- long-term investments - capital investments in the investment project lasting more than ten years;

- the foreign investor - foreign state, the foreign legal entity, the foreign organizations without formation of legal entity, the foreign citizen, and also the international organization performing investments in the Republic of Tajikistan according to the legislation of the country of the location;

- the domestic investor - the physical person and legal entity of the Republic of Tajikistan which is constantly living outside the territory of the Republic of Tajikistan performing investments into different industries of economy of the Republic of Tajikistan;

- the minority investor - the investor who performed investments of less than ten percent from voting shares (less than ten percent of votes from total quantity of voices of participants);

- direct investments - ownership, acquisition by the investor at least ten percent of share, shares (contribution) in the authorized (share) capital of the commercial organization created or newly created in the territory of the Republic of Tajikistan according to the legislation of the Republic of Tajikistan, and also capital investments in fixed assets of branch of the foreign legal entity created in the territory of the Republic of Tajikistan;

- reinvestment - investments into objects of business activity in the territory of the Republic of Tajikistan for the income account or profits of the investors received from investments in the Republic of Tajikistan;

- investment dispute - the dispute following from contractual commitments between investors, state bodies, officials of the Republic of Tajikistan and (or) other participants of investing activities in connection with investing activities of the investor;

- the investment project - strategically important commercial project providing investment attraction for development of certain sphere of economy of the Republic of Tajikistan and increase in level of living of the population of the Republic of Tajikistan;

- authorized state body in the field of investments - the state body realizing state policy in the field of investments;

- the state natural grants - the property transferred to the investor to temporary and free use for implementation of the investment project;

- investment preferences - the benefits of address nature provided to investors according to the legislation of the Republic of Tajikistan and also within investment agreements and agreements;

- single window for investors - the centralized form of assistance to investors from authorized state body in the field of investments in provision of the state services providing minimization of participation of investors in collection and preparation of documents and restriction of their direct contact with state bodies;

- expropriation - forced paid property acquisition by the state in public concerns;

- indirect (indirect) expropriation - regulating measures of the state which do not aim at direct deprivation of person of property, but its investment lose the financial value and efficiency;

- nationalization - cession of property in property of the state with payment of its cost and compensation of other damage caused to the owner in connection with nationalization;

- requisition - in case of natural disasters, accidents, epidemics, epizooty and in case of other force majeure withdrawal at the owner according to the forced decision of the Government of the Republic of Tajikistan of property according to the procedure and on the conditions established by the legislation for the benefit of society with payment of property value to it.

Article 2. Legislation of the Republic of Tajikistan on investments

The legislation of the Republic of Tajikistan on investments is based on the Constitution of the Republic of Tajikistan and consists of this Law, other regulatory legal acts of the Republic of Tajikistan, and also the international legal acts recognized by Tajikistan.

Article 3. The asset types put in investing activities

The investor can put in investing activities property and the rights to them belonging to it based on the property right and other legal cause, in particular:

- real estate;

- money;

- shares, shares in the authorized (share) capital and other forms of participation in the legal entity;

- property rights;

- intellectual property and other types of the non-property rights;

- other objects of the civil laws which are not limited in turnover to the legislation of the Republic of Tajikistan.

Article 4. Forms of implementation of foreign investments

Foreign investors have the right to perform investments in the following forms:

- creation of the companies which are completely belonging to foreign investors and also the branches and representations belonging to foreign legal entities or by acquisition of property right to operating plants;

- organization of legal entities of the Republic of Tajikistan with participation of citizens of the Republic of Tajikistan or acquisition of share in operating plants;

- share acquisition, bonds and other securities established by the legislation of the Republic of Tajikistan;

- independent acquisition or with participation of legal entities of the Republic of Tajikistan, and also citizens of the Republic of Tajikistan the rights of concessions on use of objects of state-owned property and natural resources in the territory of the Republic of Tajikistan;

- acquisition of rights of other property rights;

- in other forms which are not prohibited by the legislation of the Republic of Tajikistan.

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