Period: 21 Legislative Year: 1 Warning: You Are Viewing Act, The Parliamentary General Assembly Has Already Adopted. If It Does Not Include The Changes Made Later. Government Of The Republic Of Turkey And The Government Of The Russian Federation Rel

Original Language Title: Dönem : 21 Yasama Yılı : 1 Uyarı: Görüntülemekte olduğunuz Kanun, TBMM Genel Kurulunda kabul edildiği halidir. Varsa daha sonra yapılan değişiklikleri içermemektedir. TÜRKİYE CUMHURİYETİ HÜKÜMETİ VE RUSYA FEDERASYONU HÜKÜMETİ ARASIN

Read the untranslated law here: https://www.tbmm.gov.tr/kanunlar/k4464.html

Law No. 4464 Date of Admission: 03/11/1999 Article 1 - December 15, 1997, which was signed in Ankara, "the Government of the Republic of Turkey and Investment between the Government of the Russian Federation Agreement on the Reciprocal Promotion and Protection" has been used in the validation of. Article 2 - This Law shall enter into force on the date of publication. Article 3 - This Law shall be enforced by the Council of Ministers. GOVERNMENT OF THE REPUBLIC OF TURKEY AND THE GOVERNMENT OF THE RUSSIAN FEDERATION BETWEEN THE MUTUAL INVESTMENT PROMOTION AND PROTECTION AGREEMENT hereinafter referred to as the Contracting Parties of the Republic of Turkey and the Government of the Russian Federation; A Party with the appropriate conditions to create desire for the other Contracting Party in the territory investments of investors, the encouragement of investments and mutual protection, mutually beneficial trade and economic, but also taking into account that it will promote the development of scientific and technical cooperation, they have the following form agreement: Article I Definitions of this Agreement aims in terms of: 1. the terms of each Contracting Party "investor" means: a) he is a citizen of the Contracting Party government and the other Contracting Party to invest in the country, it is any natural person who is entitled by the Contracting parties to the legislation, b) it by the Contracting parties of the legislation provided that the other Contracting Party authorized to invest in the country, it has been be established according to the laws in force in the territory of the Contracting Party or any legal entity established; It refers. 2. "Investment" means the territory of the other Contracting Party of one of the investors of either Contracting Party means any kind of assets that put it in accordance with the Contracting Party's legislation and in particular: a) movable and immovable property, but also due to property rights thereon; b) stocks, bonds and joint ventures or other forms of participation in companies; c) claims to money invested to create economic value related to investments; d) copyrights, industrial property rights (patents, trade marks and service marks, such as industrial samples and models) technology and "know-how" e) particularly in exploration of natural resources, development, to include commercial activities related to the removal and operated to organize economic activities the rights provided for under a contract entered into in accordance with law or the law. does not contravene the legislation of the country of the Contracting Party in which the investment is made on condition that any change or re-invested in the form of deposited securities will not alter the nature of the investments in terms of this Agreement. 3. "Proceeds" means, in accordance with this Article, paragraph 2 and refers to the income obtained as a result of investments and particularly profits, dividends, interest, license fees, also includes technical assistance and service charges. 4. "Country" means the Republic of Turkey or to express the Russian Federation in accordance with international law and set next to the waters of these countries will also include the exclusive economic zone and the continental shelf. 5. "legislation of the Contracting Party" refers to the state in terms of both Contracting Parties Contracting Parties shall mean the legislation. Article II Promotion and Protection of Investments 1. Each Contracting Party to the other Contracting Party will encourage investors to make investments in its territory and will create favorable conditions for them. Each Contracting Party, and in effect no less favorable conditions of any third State accepted investment will admit such investments in accordance with its legislation. 2. Contracting Party in the territory of the investments made by investors of one Contracting Party will always be subject to fair and equitable treatment and full protection and security will have. None of the Contracting Parties, in any way in the management of investments, the operation, care, use, benefits of, will not interfere with expansion or disposal of discriminatory measures. Each Contracting Party shall comply with the obligation to be able to enter into force with regard to investments of investors of the other Contracting Party. Article III Treatment of Investments 1. Each Contracting Party shall, in accordance with fair and equitable treatment will show the investments made in its territory by investors of the other Contracting Party. 2. The treatment referred to in paragraph 1 of this Article, provided the investment from their own investors or investors of any third country shall not be less favorable. 3. Depending on the conditions of Article 1 and paragraph 2 of this Article, each Contracting Party own Under the legislation of the other Contracting Party to the investments made in its territory by investors, it will show less favorable treatment to investments of its own investors that show. 4. Most-favored-nation treatment is provided according to paragraph 2 of this Article, the Contracting Parties; - A Free Trade Zone, in connection with participation in the Customs Union and Economic Union - previously of Soviet Socialist Republics and the Russian Federation due to the economic cooperation agreement between the states forming the Union - in other regulations on the prevention of double taxation agreements or taxation on the basis, and provides It shall not apply to benefits in the future. 5. This Article shall also apply to income derived from investments. Article IV Key personnel 1. A Contracting Party shall, in accordance with the entry of foreign and regulating the residence legislation, the other Contracting Party of the investor with real people and that the other Contracting Party companies are employed key personnel, the purpose of engaging in activities related to investment will allow to enter the country and stay with. 2. A Contracting Party shall, in accordance with the legislation of the other Contracting Party investors who invest in their own country, regardless of the nationality to employ any staff working in key positions of their choice; such an employee to enter the first Contracting Parties to the country, stay and there will be received work permit and work to make this work, the conditions of the authorization of such an employee and allow the condition to comply with the time constraints. Article VI of the Act Transparency Each Contracting Party shall, in its territory investments made by investors of the other Contracting Party with the intention of promoting an understanding of the law concerning or affecting, and will ensure that such egregious laws are easily accessible. Article VI Expropriation 1 investment in the territory of the other Contracting Party to investors of a Contracting Party; In the public interest and in accordance with the legislation and this Agreement II of the general principles of the treatment specified in ııı'ünc substance, so as to be non-discriminatory, timely, adequate and outside the active compensation of the cases made with the condition to be with, it will not be expropriated, nationalized or distributed expropriation or nationalization like effects to create applications (such practices henceforth referred to as expropriation) will be subjected. 2. Compensation of the expropriated investment when the expropriation decision taken by expropriation or close the learning that will be equal to the actual value. Compensation shall be paid without delay and shall be fully carried out as freely transferable. Compensation for delay shall include interest until the date of payment. Article VII Compensation of Losses investment in the territory of the other Contracting Party; war, civil disturbance or similar events to investors of each Contracting Party who suffer losses because of the other Contracting Party, in terms of the fulfillment of such damage, treatment will show no less favorable than that shown to any third country investors. Article VIII Transfers 1. Each Contracting Party to investors of the other Contracting Party, provided that they make payments in connection with investments and meet their tax obligations in particular: a) revenues; b) The principal and interest payments arising from a loan agreement related to an investment; c) The amounts derived from the sale or liquidation of all or any part of an investment; d) The terms of this compensation specified in Article VI of the Treaty, e) a Contracting Party achieved its citizens with work permits related to an investment in the territory of the other Contracting Party as have the fees and other income; It will allow free transfers abroad. 2. Transfers of transfer money in accordance with the legislation in force in the territory of the Contracting Party in which the investment is made will be made without delay and freely convertible currency at the prevailing exchange rate. Article IX Subrogation Insured is associated with an investor to invest in the country of the other Contracting Party, one of the Contracting Parties paying a guarantee against non-commercial risks given frame or authorized representative; succession should be said investors from all rights, to the same extent, benefit. These rights can be exercised under the legislation of the second Contracting Party. Article X Settlement of Disputes between the Contracting Parties to investors of the other Contracting Party with a 1 by a Contracting Party to the other Contracting Party a The compensation to be paid under Article VI of the investor amounts and payment procedure or the Agreement VIII of substances within the scope of the dispute related to investment activities, including those related to the transfer procedure will be the investor will be subject to a written notice sent by the disputants, which together with detailed descriptions of the Contracting Parties. The parties to the dispute shall endeavor to find an amicable solution to the dispute as possible. 2. If the dispute within six months from the date of written notification mentioned in the first paragraph, can not be resolved in this way; The dispute be submitted to the following authorities for investigation. a) the competent court of the Contracting Party in which the investee country or arbitral tribunal, b) the Arbitration Institute of the Stockholm Chamber of Commerce; c) The United Nations Commission on International Trade Law Arbitration Rules (UNCITRAL) arbitration tribunal to be established for this purpose by. 3. As regards the decision of the competent court or arbitration on both sides of the dispute shall be final and binding. The decision of each Contracting Party shall undertake to fulfill in accordance with their laws. Article XI Settlement of Disputes between the Contracting Parties 1. Any related to the interpretation or implementation of this Agreement between the Contracting Parties in dispute shall be settled through direct and meaningful negotiations. 2. Disputes from the date of the start of the negotiations can not be resolved in this way within six months it can be submitted to an arbitral tribunal at the request of any Contracting Party. 3. Such an arbitral tribunal shall be composed as follows for each case. the receipt of the request for arbitration within two months of each Contracting Party shall appoint one member of the tribunal. within two months after their appointment, these two members shall select a third-country nationals to be appointed with the approval of the Contracting party as the president of the arbitral tribunal. 4. If the necessary appointments are within the period specified in paragraph 3 of this Article; In the absence of any other arrangement, both of the Contracting Party may apply for these assignments to the President of the International Court of Justice. If you are a citizen of one of the Contracting Parties of the International Court of Justice or the President if prevented from fulfilling the tasks referred to in any way; Vice President of the International Court of Justice will be invited to make the necessary appointments. If you are a citizen of one of the Contracting Parties, Vice President of the International Court of Justice or is prevented from fulfilling the tasks referred to in any way, the International Court of Justice for any citizen not the next senior member of either Contracting Party shall be invited to make the necessary appointments. 5. it takes decisions by majority vote of the Arbitration Board. Such decisions shall be final and binding on both Contracting Parties. Each Contracting Party its members in court and arbitration proceedings related costs represent the arbitral tribunal will assume the costs associated with the activities of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties. However, the arbitration court of its own motion, may decide that a higher proportion of the costs be paid by one of the Contracting Parties and this award shall be binding on both Contracting Parties. The Board will independently determine its own procedure. Article XII Associates Contracting Parties shall, upon request of either party, shall consult each other on any issues related to the implementation or interpretation of this Agreement. Implementation of Article XIII of the Agreement This Agreement, made after the date of January 1, 1987 the territory of the other Contracting Party by investors of one Contracting Party shall apply to all investments. Article XIV Entry into force and duration of the Agreement 1. Each Contracting Party's internal procedures necessary for the entry into force of this Agreement shall notify in writing the completion of the other Contracting Party. This Agreement shall enter into force on the date of the later of the two notifications. 2. This Agreement shall remain in force for a period of fifteen years. After this date this Agreement, written notice of termination of the agreement with one of the other Contracting Party from the date of transmission of the Contracting Parties shall remain in force until after twelve months. 3. This Agreement may be amended by mutual written agreement of the Contracting Parties. Any change to report in writing that it has completed all internal requirements for entry into force of the modification of each of the Contracting Parties to the other Contracting Party It shall enter into force on. 4. This Agreement termination investments made to date and to be related to the investments that implementation of this Agreement, the provisions of all other Articles of this Convention, an additional fifteen years from the date of the last question will be more effective. In Ankara, on 15 December 1997 in Turkish, English and Russian languages ​​are all equally authentic. In case of divergence of interpretation, the English text will be used texts. Government of the Republic of Turkey and the Government of the Russian Federation