Italian lawyers for Saudi companies in Italy.

The Agreement between Italy and the Kingdom of Saudi Arabia on mutual promotion and protection of investments.

According to the Agreement between Italy and the Kingdom of Saudi Arabia on mutual promotion and protection of investments (made in Jeddah September 10, 1996), the term investment means every kind of asset, owned or controlled by an investor of a Contracting Party in the territory of the other Contracting Party according to its legislation and in particular, but not exclusively, includes:

- movable and immovable property, as well as any other rights in rem, such as mortages, liens and pledges, usufructs and similar rights;
- shares, stocks and debentures of companies and other kind of right or interests in companies as well as securities issued by a Contracting Country or any of its investors;
- claims to money suich as loans or to any perfomance having an economic value, associated with an investment;
- intellectual property rights, including but not limited to copyrights, patents, industrial designs, know-how, trade-marks, trade and business secrets, trade names, good-will;
- any right conferred by law or under public contract or any licenses, permits or concessions issued according to law.

The term investor means:

1) in respect of the Kingdom of Saudi Arabia:
- natural persons possessing the nationality of the Kingdom of Saudi Arabia in accordance with the law of the Kingdom of Saudi Arabia;
- any entity having or having no legal personality and constituted in accordance with the laws of the Kingdom of Saudi Arabia and having its head office in its territory such as corporations, enterprises, cooperatives, companies, pertnerships, offices, establishments, funds, organizations, business associations and other similar entities irrespective of whether or not there are of limited liability;
- the Government of the Kingdom of Saudi Arabia and its financial institutions and authorities such as the Saudi Arabian Monetary Agency, public funds and other similar governmental institutions existing in Saudi Arabia;

2) in respect with Italian Republic:
- Italian citizens;
- any juridical person as well as any commercial or other company or association with or without legal personality, instituted according to its laws, and having its seat in the territory of the Italian Republic.

Each Contracting Country shall in its territory promote as far as possible investments by investors of the other Contracting Country and admit such investments in accordance with its legislation. It shall, in any case, accord such investments fair and equitable treatment.

Each Contracting Country, in accordance with its laws and regulations, shall grant investments once admitted and investment returns of the investors of the other Contracting Country a treatment not less favourable than that accorded to investments and investment returns of its investors.

Investments by investors of either Contracting Country shall enjoy full protection and security in the territory of the other Contractig Country. They shall not be expropiated, nationalized or subjected to any other measure, excpet for the public benefit and against prompt, adequate and effective compensation, provided that these measures are not discriminatory and in accordance with domestic laws of general application.

For more information, please contact Lawyers in Italy.

Please, see also:

Distribution contract in Italy

Contract Law in Italy

Termination clause and essential term in Italy

Termination of the contract for non-performance and the notice to comply

Non-compete clause in the distribution contract in Italy

Special court for foreign companies in Italy

Sponsorship contract in Italy

Agency contract in Italy

The obligations of the Agent under the Italian Law

English speaking lawyers in Italy