Type:	International treaty
Date of approval :	1423-03-06
accreditation:	Royal Decree
Approval number:	م/8
Type of Accreditation:	Totally
Validity:	Valid
Joining date:	1422-04-09
Summary:	By AI The document addresses the Agreement between the Kingdom of Saudi Arabia and the Republic of Austria concerning the Promotion and Reciprocal Protection of Investments, signed on June 30, 2001. The Agreement aims to enhance economic cooperation and provide a suitable environment for investment, defining "investment" as any assets owned by an investor of either Party. The Agreement includes each Party's commitments to encourage investments of the other Party and to treat them fairly, ensuring inve...

AGREEMENT

BETWEEN

THEKINGDOMOFSAUDIARABIA

AND

THEREPUBLICOFAUSTRIA

CONCERNING

THEENCOURAGEMENTANDRECIPROCALPROTECTION

OFINVESTMENTS

THEKINGDOMOFSAUDIARABIAANDTHEREPUBLICOFAUSTRIA

(hereinafterreferredtoasthe“ContractingParties"),

DESIRINGtointensifyeconomicco-operationbetweenbothParties,

INTENDINGtocreatefavourableconditionsforinvestmentsbyinvestorsof

eitherPartyintheterritoryoftheotherParty,

RECOGNIZINGthatthereciprocalpromotionandprotectionofsuch

investmentsareapttostimulateprivatebusinessinitiativeandtoincreasethe

prosperityofbothParties,

HAVEAGREEDASFOLLOWS:

ARTICLE1

ForthepurposeofthisAgreement:

1.theterm“investmentmeanseverykindofasset,ownedorcontrolledbyan

investorofaContractingPartyintheterritoryoftheotherContractingParty

accordingtoitslegislationandinparticular,butnotexclusively,includes:

(a)movableandimmovablepropertyaswellasanyotherrightsinrem,suchas

mortgages,liensandpledges,usufructsandsimilarrights;

(b)shares,stocksanddebenturesofcompaniesandotherkindsofrightsor

interestsincompaniesaswellassecuritiesissuedbyaContractingPartyoranyof

itsinvestors;

(¢)claimstomoneysuchasloansortoanyperformancehavinganeconomic

valueassociatedwithaninvestment;

(d)intellectualpropertyrights,includingbutnotlimitedtocopyrights,patents,

industrialdesigns,technicalprocesses,know-how,trademarks,tradeandbusiness

secrets,tradenamesandgood-will;

(6)anyrightsconferredbylaworundercontractoranylicenses,permitsor

concessionsissuedaccordingtolaw.

Anyextensionoralterationoftheforminwhichassetsareinvestedorreinvested

shallnotaffecttheirclassificationasinvestment,providedthattheyareconsistent

withthelegislationoftheContractingPartyintheterritoryofwhichtheinvestmentis

made.

2.theterm“returns”meanstheamountsyieldedbyaninvestment,inparticular,

profits,dividends,royalties,capitalgainsoranysimilarfeesorpayments.

theterm“investormeans:

(a)

inrespectoftheKingdomofSaudiArabia:

(i)naturalpersonspossessingthenationalityoftheKingdomofSaudi

ArabiainaccordancewiththelawoftheKingdomofSaudiArabia;

(i)anyentityhavingorhavingnolegalpersonalityandconstitutedin

accordancewiththelawsoftheKingdomofSaudiArabiaandhavingits

headofficeinitsterritorysuchascorporations,enterprises,cooperatives,

companies,partnerships,offices,establishments,funds,organizations,

businessassociationsandothersimilarentitiesirrespectiveofwhetherornot

theyareoflimitedliability;

CaJ

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AGREEMENT BETWEEN THE KINGDOM OF SAUDI ARABIA AND THE REPUBLIC OF AUSTRIA CONCERNING THE ENCOURAGEMENT AND RECIPROCAL PROTECTION OF INVESTMENTS