Artikel 10(7)

“Each Contracting Party shall accord to Investments in its Area of Investors of another Contracting Party, and their related activities including management, maintenance, use, enjoyment or disposal, treatment no less favourable than that which it accords to Investments of its own Investors or of the Investors of any other Contracting Party or any third state and their related activities including management, maintenance, use, enjoyment or disposal, whichever is the most favourable."
Sector
All energy sectors.
Level of government
National.
Description
Foreign persons may not acquire property rights over land. A company with more than fifty per cent of foreign person's share may not acquire property right over agricultural land;
Foreigners and foreign legal persons may not aquire property rights over land except by way of inheritance according to the law. In this case they have to make it over;
A foreign person may aquire property rights over buildings, but without property rights over the land;
Foreign persons or companies with foreign controlling participation must obtain a permit before performing the following activities:
– exploration, development and extraction of natural resources from the territorial sea, continental shelf or exclusive economic zone;
– acquisition of real estate in geographic regions designated by the Council of Ministers.
– The permits are issued by the Council of Ministers or by a body authorized by the Council of Ministers.
Phase-out
1 July 2001.