EU European Union, including all its Member States AT Austria
BE Belgium
BG Bulgaria
CY Cyprus
CZ Czech Republic
DE Germany
DK Denmark
EE Estonia
EL Greece ES Spain FI Finland FR France
HR Croatia
HU Hungary IE Treland IT Italy
LT Lithuania LU Luxembourg
LV Latvia
MT Malta
NL The Netherlands PL Poland
PT Portugal
RO Romania SE Sweden SI Slovenia
SK Slovak Republic [Common headnotes]
Schedule of the Union
Reservation No. 1 - All sectors
Reservation No. 2 - Professional services (except health-related professions) Reservation No. 3 - Professional services (health related and retail of pharmaceuticals) Reservation No. 4 - Research and development services
Reservation No. 5 - Real estate services
Reservation No. 6 - Business services
Reservation No. 7 - Construction Services
Reservation No. 8 - Distribution services
Reservation No. 9 - Education services
Reservation No. 10 - Environmental services
Reservation No. 11 - Health services and social services
Reservation No. 12 - Tourism and travel related services
Reservation No. 13 - Recreational, cultural and sporting services
Reservation No. 14 - Transport services and services auxiliary to transport services Reservation No. 15 - Energy related activities
Reservation No. 16 - Agriculture, fishing and manufacturing
Reservation No. 1 - All sectors
Sector: All sectors
Type of reservation: National treatment Most-favoured-nation treatment Performance requirements
Senior management and boards of directors
Chapter Chapter/Section: Investment Liberalisation and Cross-border Trade In Services Level of Government: EU/Member State (unless Otherwise Specified) Description: (a) Type of Establishment
With respect to Investment liberalisation â National treatment:
The EU: Treatment granted pursuant to the Treaty on the Functioning of the European Union to legal persons formed in accordance with the law of the Union or of a Member State and having their registered office, central administration or principal place of business within the Union, including those established in the Union by investors of Chile, is not accorded to legal persons established outside the Union, nor to branches or representative offices of such legal
persons, including to branches or representative offices of legal persons of Chile.
Treatment less favourable may be accorded to legal persons formed in accordance with the law of the Union or of a Member State which have only their registered office in the Union, unless it can be shown that they possess an effective and continuous link with the economy of one of the Member States.
Measures:
EU: Treaty on the Functioning of the European Union.
With respect to Investment liberalisation â National treatment, Senior management and
boards of directors:
This reservation applies only to health, social or education services:
The EU (applies also to the regional level of government): Any Member State, when selling or disposing of its equity interests in, or the assets of, an existing state enterprise or an existing governmental entity providing health, social or education services (CPC 93, 92), may prohibit or impose limitations on the ownership of such interests or assets, and/or restrict the ability of owners of such interests and assets to control any resulting enterprise, with respect to investors of Chile or their enterprises. With respect to such a sale or other disposition, any Member State may adopt or maintain any measure relating to the nationality of senior
management or members of the boards of directors.
For the purposes of this reservation:
(i) any measure maintained or adopted after the date of entry into force of this Agreement that, at the time of the sale or other disposition, prohibits or imposes limitations on the ownership of equity interests or assets or imposes nationality requirements as described in this reservation shall be deemed to be an existing
measure; and
Gi) "state enterprise" means an enterprise owned or controlled through ownership interests by any Member State and includes an enterprise established after the date of entry into force of this Agreement solely for the purposes of selling or disposing of equity interests in, or the assets of, an existing state enterprise or
governmental entity.
Measures:
EU: As set out in the description element as indicated above.
With respect to Investment liberalisation â National Treatment:
In AT: For the operation of a branch, non-European Economic Area (non-EEA) corporations
must appoint at least one person responsible for its representation who is resident in Austria.
Executives (managing directors, natural persons) responsible for the observance of the
Austrian Trade Act (Gewerbeordnung) must be domiciled in Austria.
In BG: Foreign legal persons, unless established under the legislation of a Member State of the European Economic Area (EEA), may conduct business and pursue activities if established in the Republic of Bulgaria in the form of a company registered in the Commercial Register. Establishment of branches is subject to authorisation.
Representative offices of foreign enterprises are to be registered with Bulgarian Chamber of Commerce and Industry and may not engage in economic activity but are only entitled to
advertise their owner and act as representatives or agents.
In EE: If the residence of at least half of the members of the management board of a private limited company, a public limited company or a branch is not in Estonia, in another Member State of the EEA or in the Swiss Confederation, the private limited company, the public limited company or the foreign company shall appoint a point of contact whose Estonian address can be used for the delivery of the procedural documents of the undertaking and the declarations of intent addressed to the undertaking (i.e. the branch of a foreign company).
With respect to Investment liberalisation â National treatment, Senior management and
boards of directors, and Cross-border trade in services â Local presence:
In FI: At least one of the partners in a general partnership or of general partners in a limited partnership needs to have residency in the EEA or, if the partner is a legal person, be domiciled (no branches allowed) in the EEA. Exemptions may be granted by the registration authority.
To carry on trade as a private entrepreneur, residency in the EEA is required.
If a foreign organisation from a country outside the EEA intends to carry on a business or
trade by establishing a branch in Finland, a trade permit is required.
Residency in the EEA is required for at least one of the ordinary and one of the deputy members of the board of directors and for the managing director. Company exemptions may
be granted by the registration authority.
In SE: A foreign company, which has not established a legal entity in Sweden or is conducting its business through a commercial agent, shall conduct its commercial operations through a branch, registered in Sweden, with independent management and separate accounts. The managing director and the vice-managing director, if appointed, of the branch, must reside in the EEA. A natural person not resident in the EEA, who conducts commercial operations in Sweden, shall appoint and register a resident representative responsible for the operations in Sweden. Separate accounts shall be kept for the operations in Sweden. The competent authority may in individual cases grant exemptions from the branch and residency requirements. Building projects with duration of less than a year, conducted by a company located or a natural person residing outside the EEA, are exempted from the requirements of
establishing a branch or appointing a resident representative.
For limited liability companies and co-operative economic associations, at least 50 per cent of the members of the board of directors, at least 50 per cent of the deputy board members, the managing director, the vice-managing director, and at least one of the persons authorised to sign for the company, if any, must reside within the EEA. The competent authority may grant exemptions from this requirement. If none of the companyâs or society's representatives reside in Sweden, the board must appoint and register a person resident in Sweden, who has been
authorised to receive servings on behalf of the company or society.
Corresponding conditions prevail for establishment of all other types of legal entities.
In SK: A foreign natural person whose name is to be registered in the appropriate register (Commercial register, Entrepreneurial or other professional register) as a person authorised to
act on behalf of an entrepreneur is required to submit a residence permit for Slovakia.
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Measures:
AT: Aktiengesetz, BGBL. Nr. 98/1965, § 254 (2); GmbH-Gesetz, RGBL. Nr. 58/1906, § 107 (2); and Gewerbeordnung, BGBL. Nr. 194/1994, § 39 (2a).
BG: Commercial Law, Article 17a; and
Law for Encouragement of Investments, Article 24.
EE: Ariseadustik (Commercial Code) § 63! (1, 2 and 4).
FI: Laki elinkeinon harjoittamisen oikeudesta (Act on the Right to Carry on a Trade) (122/1919), s. 1;
Osuuskuntalaki (Co-Operatives Act) 1488/2001;
Osakeyhtidlaki (Limited Liabilities Company Act) (624/2006); and
Laki luottolaitostoiminnasta (Act on Credit Institutions) (121/2007).
SE: Lag om utlandska filialer m.m (Foreign Branch Offices Act) (1992:160); Aktiebolagslagen (Companies Act) (2005:551);
The Co-operative Economic Associations Act (2018:672); and Act on European Economic Interest Groupings (1994:1927).
SK: Act 513/1991 on Commercial Code (Article 21); Act 455/1991 on Trade Licensing; and Act no 404/2011 on Residence of Aliens (Articles 22 and 32).
With respect to Investment liberalisation -National Treatment and Performance
requirements:
In BG: Established enterprises may employ third country nationals only for positions for which there is no requirement for Bulgarian nationality. The total number of third country nationals employed by an established enterprise over a period of the preceding 12 months
must not exceed 20 percent (35 percent for small and medium-sized enterprises) of the
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average number of Bulgarian nationals, nationals of other Member States, of states parties to the Agreement on the EEA or of the Swiss Confederation hired on an employment contract. In addition, the employer must demonstrate that there is no suitable Bulgarian, EU, EEA or Swiss worker for the respective position by conducting a labour market test before employing a third country national.
For highly qualified, seasonal and posted workers, as well as for intra-corporate transferees, researchers and students there is no limitation on the number of third country nationals working for a single enterprise. For the employment of third country nationals in these
categories, no labour market test is required.
Measures:
BG: Labour Migration and Labour Mobility Act.
With respect to Investment liberalisation âNational treatment:
In PL: The scope of operations of a representative office may only encompass advertising and promotion of the foreign parent company represented by the office. For all sectors except legal services, establishment by non-European Union investors and their enterprises may only be in the form of a limited partnership, limited joint-stock partnership, limited liability company, and joint-stock company, while domestic investors and enterprises have access also to the forms of non-commercial partnership companies (general partnership and unlimited liability partnership).
Measures:
PL: Act of 6 March 2018 on rules regarding economic activity of foreign entrepreneurs and other foreign persons in the territory of the Republic of Poland.
(b) Acquisition of real estate
With respect to Investment liberalisation â National treatment:
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In AT (applies to the regional level of government): The acquisition, purchase and rental or leasing of real estate by non-European Union natural persons and enterprises requires authorisation by the competent regional authorities (Lander). Authorisation will only be granted if the acquisition is considered to be in the public (in particular economic, social and
cultural) interest.
In CY: Cypriots or persons of Cypriot origin, as well as nationals of a Member State, are allowed to acquire any property in Cyprus without restrictions. A foreigner shall not acquire, otherwise than mortis causa, any immovable property without obtaining a permit from the Council of Ministers. For foreigners, where the acquisition of immovable property exceeds the extent necessary for the erection of a premises for a house or professional roof, or otherwise exceeds the extent of two donums (2,676 square meter), any permit granted by the Council of Ministers shall be subject to such terms, limitations, conditions and criteria which are set by Regulations made by the Council of Ministers and approved by the House of Representatives. A foreigner is any person who is not a citizen of the Republic of Cyprus, including a foreign controlled company. The term does not include foreigners of Cypriot
origin or non-Cypriot spouses of citizens of the Republic of Cyprus.
In CZ: Specific rules apply to agricultural land under state ownership. State agricultural land can be acquired only by Czech nationals, nationals of another Member State, or states parties to the Agreement on the EEA or the Swiss Confederation. Legal persons can acquire state agriculture land from the state only if they are agricultural entrepreneurs in the Czech Republic or persons with similar status in other Member State of the European Union, or
states parties to the Agreement on the EEA or the Swiss Confederation.
In DK: Natural persons who are not resident in Denmark, and who have not previously been resident in Denmark for a total period of five years, must in accordance with the Danish Acquisition Act obtain permission from the Ministry of Justice to acquire title to real property in Denmark. This also applies for legal persons that are not registered in Denmark. For natural persons, acquisition of real property will be permitted if the applicant is going to use the real property as his or her primary residence.
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For legal persons that are not registered in Denmark, acquisition of real property will in general be permitted, if the acquisition is a prerequisite for the business activities of the purchaser. Permission is also required if the applicant is going to use the real property as a secondary dwelling. Such permission will only be granted if the applicant through an overall
and concrete assessment is regarded to have particular strong ties to Denmark.
Permission under the Acquisition Act is only granted for the acquisition of a specific real property. The acquisition of agricultural land by natural or legal persons is in addition governed by the Danish Agricultural Holdings Act, which imposes restrictions on all persons, Danish or foreign, when acquiring agricultural property. Accordingly, any natural or legal person, who wishes to acquire agricultural real property, must fulfil the requirements in this Act. This generally means a limited residence requirement on the agricultural holding applies. The residence requirement is not personal. Legal entities must be of the types listed in §20 and §21 of the act and must be registered in the Union (or EEA).
In EE: A legal person from an OECD Member State has the right to acquire an immovable
which contains:
(i) _ less than ten hectares of agricultural land, forest land or agricultural and forest land in total without restrictions.
(ii) ten hectares or more of agricultural land if the legal person has been engaged, for three years immediately preceding the year of making the transaction of acquisition of the immovable, in production of agricultural products listed in Annex I to the Treaty on the Functioning of the European Union, except fishery products and cotton (hereinafter agricultural product).
(iii) ten hectares or more of forest land if the legal person has been engaged, for three years immediately preceding the year of making the transaction of acquisition of the immovable, in forest management within the meaning of the Forest Act
(hereinafter forest management) or production of agricultural products.
(iv) less than ten hectares of agricultural land and less than ten hectares of forest land,
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but ten hectares or more of agricultural and forest land in total, if the legal person has been engaged, for three years immediately preceding the year of making the transaction of acquisition of the immovable, in production of agricultural products
or forest management.
If a legal person does not meet the requirements provided for in (ii){iv), the legal person may acquire an immovable which contains ten hectares or more of agricultural land, forest land or agricultural and forest land in total only with the authorisation of the council of the local
government of the location of the immovable to be acquired.
Restrictions on acquiring immovable property apply in certain geographical areas for non- EEA nationals.
In EL: Real estate acquisition or tenancy in the border regions is prohibited to natural or legal persons whose nationality or base is outside the Member States and the European Free Trade Association. The ban may be lifted with a discretionary decision taken by a committee of the appropriate Decentralized Administration (or the Minister of National Defense in case the properties to be exploited belong to the Fund for the Exploitation of Private Public Property).
In HR: Foreign companies are only allowed to acquire real estate for the supply of services if they are established and incorporated in Croatia as legal persons. Acquisition of real estate necessary for the supply of services by branches requires the approval of the Ministry of Justice. Agricultural land cannot be acquired by foreigners.
In MT: Non-nationals of a Member State may not acquire immovable property for commercial purposes. Companies with 25 per cent (or more) of non-European Union shareholding must obtain an authorisation from the competent authority (Minister responsible for Finance) to buy immovable property for commercial or business purposes. The competent authority will determine whether the proposed acquisition represents a net benefit to the
Maltese economy.
In PL: The acquisition of real estate, direct and indirect, by foreigners requires a permit. A
permit is issued through an administrative decision by a minister competent in internal affairs,
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with the consent of the Minister of National Defence, and in the case of agricultural real
estate, also with the consent of the Minister of Agriculture and Rural Development.
Measures:
AT: Burgenlandisches Grundverkehrsgesetz, LGBL. Nr. 25/2007;
K&rntner Grundverkehrsgesetz, LGBL. Nr. 9/2004;
NO- Grundverkehrsgesetz, LGBL. 6800;
o6- Grundverkehrsgesetz, LGBL. Nr. 88/1994;
Salzburger Grundverkehrsgesetz, LGBL. Nr. 9/2002;
Steiermarkisches Grundverkehrsgesetz, LGBL. Nr. 134/1993;
Tiroler Grundverkehrsgesetz, LGBL. Nr. 61/1996; Voralberger Grundverkehrsgesetz, LGBL. Nr. 42/2004; and