Common use of Repatriation of Capital, Profits and Income Clause in Contracts

Repatriation of Capital, Profits and Income. 1. Each of the Contracting Parties shall guarantee that, after investors have compiled with all their fiscal obligations, they may transfer the following abroad, without undue delay, in any convertible currency: a) The net capital used to initiate an investment and additional shares used to maintain and increase the investments. b) Net income, dividends, royalties, payments for assistance and technical services, interest and any other profits; c) The proceeds of the total or partial sale or liquidation by winding up or otherwise, of an investment; provided that, in cases where the proceeds constitute large sums and in periods of exceptional balance of payments difficulties, the transfer of a minimum of 33 1/3% per year is guaranteed over a period of three years at the relevant commercial rate of interest. This provision is without prejudice to any other agreement made between the investor and the Contracting Party concerned for the transfer of such proceeds; d) Funds to repay loans relating to an investment and interest due thereon; provided that the prior consent, if required, of the competent authorities has been obtained in respect of the repayment schedule; e) Remuneration and allowances paid to nationals of the other Contracting Party in respect of salaried work and services performed in relation to an investment effected in its territory, in the amount and manner prescribed by current national regulations. 2. Notwithstanding the provisions of Article 3 of this Agreement, the Contracting Parties undertake to apply to the transfers mentioned in paragraph 1 of this Article, no less favourable treatment than is accorded to investments effected by investors of Third States. 3. A Contracting Party shall be entitled to depart from the provisions of paragraphs 1 and 2 of this Article where the capital introduced into its territory has not been accorded. if required, approved status in accordance with the exchange control regulations in force in the territory of that Contracting Party at the time of introduction, except where such capital was introduced prior to the existence of any such regulations.

Repatriation of Capital, Profits and Income. 1. Each of the Contracting Parties shall will guarantee thatto the investors of the other, after once the investors have compiled with all their fiscal obligations, fulfilled any tax obligation that they may can transfer the following abroad, abroad in any convertible currency and without undue delay, in any convertible currencythe following: a) The net Equity capital and additional capital allowances used respectively to initiate start an investment and additional shares used to maintain and increase the investments.investment; b) Net income, dividends, royalties, payments fees for assistance and technical services, interest interests and any other profitsprofit; c) The proceeds of Sums deriving from the total or partial sale or liquidation by winding up or otherwise, of an investmentinvestment for closure or other reasons; provided that, in cases where If the proceeds constitute large revenue constitutes considerable sums and in periods times of exceptional difficulties in the balance of payments difficultiespayments, the transfer of a minimum of 33 1/3% per year to the honey is guaranteed over a period of three 3 years at the relevant corresponding commercial rate of interestinterest rate. This provision measure is without prejudice not prejudicial to any other agreement made reached between the investor and the Contracting Party concerned for involved in the transfer of such proceeds; d) Funds to repay for the repayment of loans relating to an investment and the payment of interest due thereon; provided Provided that the prior consent, if required, of the competent authorities has been obtained in respect of have obtained, where necessary, the repayment scheduleconsent to the reimbursement plan; e) Remuneration and allowances paid to benefits received by nationals of the other Contracting Party in respect of salaried work and derived from subordinated employment and services performed rendered in relation to an investment effected connection with investments made in its their territory, to the extent and in accordance with the amount procedures laid down by the applicable national laws and manner prescribed by current national regulations. 2. Notwithstanding the provisions In view of Article 3 of this Agreement, the Contracting Parties undertake to apply to grant the transfers mentioned referred to in paragraph 1 of this Article, Article a treatment no less favourable treatment favorable than is that accorded to investments effected made by investors of Third Statesthird-country investors. 3. A Contracting Party shall be entitled authorized to depart derogate from the provisions of paragraphs 1 and 2 of this Article where the capital introduced entered into its territory has not been accorded. if requiredgranted, where requested, an approved status in accordance with under the exchange regulations on trade control regulations in force in the territory of that Contracting Party at At the time of its introduction, except where unless such capital was has been introduced prior to the existence of any such regulations.