Protocol to the Agreement on encouragement and reciprocal protection of investments between the United Arab Emirates and the Kingdom of the Netherlands.
On the signing of the Agreement on encouragement and reciprocal protection of investments between the United Arab Emirates and the Kingdom of the Netherlands, the undersigned representatives have agreed on the following provisions, which constitute an integral part of the Agreement:
Ad Article 1(b)(iii)
An investor of one Contracting Party having a subsidiary with a bonafide business lawfully established in the other Contracting Party shall with regard to its investments benefit from the protection of this Agreement.
Ad Article 3
- 1.Each Contracting Party shall, subject to its laws, regulations and procedures affecting the entry, stay and work of natural persons, permit natural persons who are nationals of the other Contracting Party and personnel employed by companies of the other Contracting Party, to enter and remain in its territory for the purpose of engaging in activities connected with the investment.
- 2.Each Contracting Party shall, subject to its laws, regulations and procedures, permit nationals of the other Contracting Party to engage managerial and technical personnel of their choice, regardless of their nationality.
- 3.Nationals of each Contracting Party may apply to the competent authorities of the other Contracting Party for the appropriate facilities, incentives and other advantages, and the other Contracting Party shall, subject to its laws, regulations and procedures, grant them all assistance, consents, approvals and licences as may be required.
- 4.It is understood that a Contracting Party or its designated agency or entity may stipulate in accordance with this Agreement with the investor of the other Contracting Party an investment contract, which will govern the legal relationship of the investor concerned.
Ad Article 6
Due process of law includes the right of a national of a Contracting Party, which claims to be affected by expropriation by the other Contracting Party, to prompt review of its case, including the valuation of its investment and the payment of compensation by a judicial authority or another competent and independent authority of the other Contracting Party.
Ad Article 9
It is understood that the Most Favourite Nation (MFN) treatment shall not be applied to any procedural or judicial matter, which falls within the scope of this Agreement.
Ad Article 12(5)
It is confirmed that an arbitral tribunal shall decide on the basis of the law, taking into account the following:
- –the law in force of the Contracting Party concerned;
- –the provisions of this Agreement, and other relevant Agreements between the Contracting Parties;
- –the provisions of special agreements between the Contracting Party and the investor relating to the investment;
- –the general principles of international law.
