Chile - EFTA FTA (2003)
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Only Icelandic citizens and Icelandic legal entities and citizens and legal entities from another EEA Member State are allowed to own real estate in Iceland unless the ownership and use is linked to an investment in real estate pertaining to the business activity of the investor. The same applies to renting of real estate if the duration of the lease lasts for more than three years. These restrictions do not apply to a non-EEA citizen who has been residing in Iceland for at least five years. The Minister of Justice can grant exemptions from these restrictions on grounds of an application.

Sector: Fisheries

Sub-sector: Fishing, whaling

Level of Government: National

Legal source or authority of the measure:

Law No. 13/1992 on the Right to Conduct Fishing in Iceland’s Economic Zone, Law No. 34/1991 on Investment by Non-Residents in Business Enterprises, Law No. 26/1949 on Whaling 

Succinct description of the measure:

Only Icelandic citizens and Icelandic legal entities under Icelandic control are allowed to fish in the Icelandic economic zone. The same applies to whaling.

Sector: Fisheries

Sub-sector: Fish Processing

Level of Government: National

Legal source or authority of the measure:

Law No. 34/1991 on Investment by Non-Residents in Business Enterprises

Succinct description of the measure:

Only Icelandic citizens and Icelandic legal entities are allowed to own and manage enterprises engaged in fish processing in Iceland. Fish processing in this context is freezing, salting, drying and any other process used to initially preserve fish and fish products, including melting and meal processing. This reservation does not apply to secondary fish processing.

Sector: Fisheries

Subsector: Fish Auctioning

Level of Government: National

Legal source or authority of the measure:

Law No. 123/1989 on the Auctioning of Fish

Succinct description of the measure:

Only Icelandic citizens and Icelandic legal entities are allowed to own and manage enterprises engaged in fish auctioning in Iceland.

Sector: Power and Energy sector

Sub-sector: -

Level of Government: National

Legal source or authority of the measure:

Not Applicable

Succinct description of the measure:

All activities in the power and energy sector shall be treated as services under this Agreement.

Appendix 3. Reservations by Liechtenstein

Sector: All sectors

Sub-sector:

Level of Government: National

Legal source or authority of the measure:

Gewerbegesetz vom 10. Dezember 1969 (Act on Commercial Law of 10 December 1969), LR (Systematic Collection of Liechtenstein Law) 930.1 and the relevant laws with regard to categories mentioned in Article 2, paragraph 1 of that Act as well as relevant Parliament or Government decisions.

Succinct description of the measure:

The establishment of a commercial presence by a juridical person (including branches) is subject to the requirement that no objection for reasons of national economy (balanced proportion of national and foreign capital; balanced ratio of foreigners in comparison with the number of resident population; balanced ratio of total number of jobs in the economy in comparison with the number of the resident population; balanced geographic situation; balanced development of the national economy, between and within the sectors) exists.

Sector: All sectors

Sub-sector:

Level of Government: National

Legal source or authority of the measure:

Gewerbegesetz vom 10. Dezember 1969 (Commercial Law Act), Personen- und Gesellschaftsrecht vom 20. Januar 1926 (Company Law), LR 216.0

Succinct description of the measure:

The establishment of a commercial presence by an individual is subject to the requirement of prior residence during a certain period of time and of permanent domicile in Liechtenstein.

He/she must possess sector specific government-recognized professional qualifications.

The establishment of a commercial presence by a juridical person (including branches) is subject to the following requirements: At least one of the managers has to fulfil the requirements of prior residence during a certain period of time and of permanent domicile in Liechtenstein. He must possess sector specific government-recognized professional qualifications. The majority of the administrators (authorized to manage and represent the juridical person) must be residents in Liechtenstein and have either to be Liechtenstein citizens or have prior residence during a certain period of time in Liechtenstein. The general and the limited partnership have to fulfil the same conditions as corporations with limited liability (juridical person). In addition the majority of the associates have to be Liechtenstein citizens or to have prior residence during a certain period of time in Liechtenstein.

The Liechtenstein company law does not prohibit joint stock companies from foreseeing in their articles of incorporation the preclusion or limitation of the transfer of registered shares.

Sector: All sectors

Subsector:

Level of Government: National

Legal source or authority of the measure:

Agreement on the European Economic Area of 2 May 1992 (EEA Agreement)

Succinct description of the measure:

Treatment accorded to subsidiaries of third-country companies formed in accordance with the law of an EEA Member State and having registered office, central administration or principal place of business within an EEA Member State is not extended to branches or agencies established in an EEA Member State by a third-country company.

Treatment less favourable may be accorded to subsidiaries of third countries having only their registered office in the territory of an EEA Member State unless they show that they possess an effective and continuous link with the economy of one of the EEA Member States.

Sector: All sectors

Subsector:

Level of Government: National and Sub-national

Legal source or authority of the measure:

Grundverkehrsgesetz vom 9. Dezember 1992 (Law on the acquisition of real estate of 9 December 1992), LR 214.11 

Succinct description of the measure:

All acquisitions of real estate are subject to authorization. Such authorization is granted only if an actual and proven requirement for living or business purposes is given and a certain period of residence has been completed. Non-residents are excluded from the acquisition of real estate.

Sector: Power and Energy sector

Sub-sector: -

Level of Government: National

Legal source or authority of the measure:

Not Applicable

Succinct description of the measure:

All activities in the power and energy sector shall be treated as services under this Agreement.

Appendix 4. Reservations by Norway

Sector: All sectors

Sub-sector: -

Level of Government: National

Legal source or authority of the measure:

Companies Act of 13 June 1997 No 44 (aksjeloven) and Joint Stock Public Companies Act of 13 June 1997, No 45 (allmennaksjeselskapsloven)

Succinct description of the measure:

The general manager in a joint stock company and at least half of the members of the board of directors and of the corporate assembly must be residents of Norway. The residency criteria do not apply to nationals of an EEA Member State who are permanent residents of one of these States. The Ministry of Trade and Industry may grant exemptions from this provision.

Sector: Power and Energy sector

Repair of Transport Equipment sector

Sub-sector: -

Level of Government: National and Sub-national

Legal source or authority of the measure:

Not Applicable

Succinct description of the measure:

All activities in the power and energy sector as well as in the repair of transport equipment sector shall be treated as services under this Agreement.

Sector: Real estate

Sub-sector: Secondary residences

Level of Government: National

Legal source or authority of the measure:

Concessions Act of 31 May 1974, No. 19

Succinct description of the measure:

Acquisition or leasing of secondary residences by non-residents is subject to a concession.

Sector: Fishing and fish processing

Subsector: -

Level of Government:

Legal source or authority of the measure:

Regulation of Participation in Fishing Act of 16 June 1972, No 57

Economic Zone Act of 17 December 1976, No 91

The Fishing Limit Act of 17 June 1966, No 19

Succinct description of the measure:

A concession to acquire a fishing vessel or share in a company which owns such vessels can only be given to a Norwegian citizen or a body that can be defined as a Norwegian citizen. A company is regarded as having equal rights with a Norwegian citizen when its main office is situated in Norway and the majority of the Board, including the Chair of the Board, are Norwegian citizens and have stayed in the country the last two years. Norwegian citizens also have to own a minimum of 60% of the shares and have to be authorised to vote for at least 60% of the votes.

Ownership to the fishing fleet shall be reserved for professional fishermen. To obtain the right to own a fishing vessel, one has to have a record of active, professional fishing on a Norwegian fishing boat for at least three of the last five years.

It is prohibited for other persons than Norwegian nationals or companies, as defined above, to process, pack or transship fish, crustaceans and molluscs or parts and products of these inside the fishing limits of the Norwegian Economic Zone. This applies to catches from both Norwegian and foreign vessels. Exceptions are granted under special circumstances.

Appendix 5. Reservations by Switzerland

Sector: All sectors

Sub-sector: -

Level of Government: National

Legal source or authority of the measure:

Federal Act of 30 March 1911 (Code of Obligations) supplementing the Swiss Civil Code (Systematic Collection of Federal Laws and Regulations [RS], No. 220)

Succinct description of the measure:

- The vast majority of companies in Switzerland are organized as corporations (Société anonyme [SA] – Aktiengesellschaft [AG]), featuring a predetermined capital and shareholders’ liability limited to the nominal capital invested. Of the members of the board of directors of a Swiss corporation, the majority must be Swiss citizens residing in Switzerland. Exceptions are possible in the case of holding companies.

- Limited liability companies (Société à responsabilité limité [Sàrl] – Gesellschaft mit beschränkter Haftung [GmbH]) are characterized by a limited capital divided into quotas. In a limited liability company, at least one managing officer must be residing in Switzerland.

- A foreign company may also establish one or several branch offices in Switzerland. At least one representative of a branch office must be residing in Switzerland.

Sector: All sectors

Sub-sector: Real estate

Level of Government: National and sub-national

Legal source or authority of the measure:

Federal Act of 16 December 1983 on the Acquisition of Real Estate by Persons Abroad (RS 211.412.41)

Succinct description of the measure:

Foreign nationals not residing in Switzerland and companies established, or controlled from, abroad are not allowed to invest in the residential property market (except for residential property directly linked to a business presence) and in agricultural real estate. For the acquisition of vacation homes, a cantonal permit is required.

Sector: Energy

Sub-sector: Oil Prospection and Exploitation

Level of Government: Sub-national

Legal source or authority of the measure:

Concordat of 24 September 1955 on Oil Prospecting and Exploitation (RS 931.1)

Succinct description of the measure:

This intercantonal agreement (among 10 cantons) stipulates that oil concessions may be granted only to companies that are at least 75 percent Swiss-owned. Other cantons apply similar restrictions.

Sector: Energy

Sub-sector: Nuclear energy

Level of Government: National

Legal source or authority of the measure:

Federal Act of 23 December 1959 on the Peaceful Uses of Atomic Energy, (RS 732.0); Federal Decree of 8 October 1978 relative to the Atomic Energy Act (RS 732.01)

Succinct description of the measure:

Authorization to construct and operate nuclear facilities is granted only to Swiss citizens domiciled in Switzerland and legal persons that are subject to Swiss law, headquartered in Switzerland and Swiss-owned.

Sector: Energy

  • Chapter   I Initial Provisions 1
  • Article   1 Establishment of a Free Trade Area 1
  • Article   2 Objectives 1
  • Article   3 Territorial Application 1
  • Article   4 Relation to other International Agreements 1
  • Article   5 Trade and Economic Relations Governed by this Agreement 1
  • Article   6 Regional and Local Governments 1
  • Chapter   II Trade In Goods 1
  • Article   7 Coverage 1
  • Article   8 Rules of Origin and Administrative Co-operation 1
  • Article   9 Elimination of Customs Duties 1
  • Article   10 Customs Duty 1
  • Article   11 Fees and other Charges 1
  • Article   12 Basic Duties 1
  • Article   13 Import and Export Restrictions 1
  • Article   14 Classification of Goods and Customs Valuation 1
  • Article   15 National Treatment 1
  • Article   16 Sanitary and Phytosanitary Measures 1
  • Article   17 Technical Regulations 1
  • Article   18 Anti-dumping and Countervailing Measures 1
  • Article   19 Emergency Action on Imports of Particular Products 1
  • Article   20 Global Safeguard 1
  • Article   21 General Exceptions 1
  • Chapter   III Trade In Services and Establishment 1
  • Section   I Trade In Services 1
  • Article   22 Coverage 1
  • Article   23 Definitions 1
  • Article   24 Most-favoured Nation Treatment 1
  • Article   25 Market Access 2
  • Article   26 National Treatment 2
  • Article   27 Trade Liberalisation 2
  • Article   28 Domestic Regulation 2
  • Article   29 Recognition 2
  • Article   30 Movement of Natural Persons 2
  • Article   31 Telecommunications Services 2
  • Section   II Establishment 2
  • Article   32 Coverage 2
  • Article   33 Definitions 2
  • Article   34 National Treatment 2
  • Article   35 Reservations 2
  • Article   36 Right to Regulate 2
  • Article   37 Final Provisions 2
  • Section   III Payments and Capital Movements 2
  • Article   38 Objective and Scope 2
  • Article   39 Current Account 2
  • Article   40 Capital Account 2
  • Article   41 Exceptions and Safeguard Measures 2
  • Article   42 Final Provisions 2
  • Section   IV Common Provisions 2
  • Article   43 Relation to other International Agreements 2
  • Article   44 General Exceptions 2
  • Article   45 Financial Services 2
  • Chapter   IV Protection of Intellectual Property 2
  • Article   46 Intellectual Property Rights 2
  • Chapter   V Government Procurement 2
  • Article   47 Objective 2
  • Article   48 Scope and Coverage 2
  • Article   49 Definitions 2
  • Article   50 National Treatment and Non-discrimination 2
  • Article   51 Prohibition of Offsets 2
  • Article   52 Valuation Rules 2
  • Article   53 Transparency 3
  • Article   54 Tendering Procedures 3
  • Article   55 Selective Tendering 3
  • Article   56 Other Procedures 3
  • Article   57 Qualification of Suppliers 3
  • Article   58 Publication of Notices 3
  • Article   59 Tender Documentation 3
  • Article   60 Technical Specifications 3
  • Article   61 Time Limits 3
  • Article   62 Negotiations 3
  • Article   63 Submission, Receipt and Opening of Tenders 3
  • Article   64 Awarding of Contracts 3
  • Article   65 Information on Contract Award 3
  • Article   66 Bid Challenges 3
  • Article   67 Information Technology and Co-operation 3
  • Article   68 Modifications to Coverage 3
  • Article   69 Further Negotiations 3
  • Article   70 Exceptions 3
  • Article   71 Review and Implementation 3
  • Chapter   VI Competition Policy 3
  • Article   72 Objectives 3
  • Article   73 Notifications 3
  • Article   74 Co-ordination of Enforcement Activities 3
  • Article   75 Consultations 3
  • Article   76 Exchange of Information and Confidentiality 3
  • Article   77 Public Enterprises and Enterprises Entrusted with Special or Exclusive Rights, Including Designated Monopolies 3
  • Article   78 Dispute Settlement 3
  • Article   79 Designated Authorities 4
  • Article   80 Definitions 4
  • Chapter   VII Subsidies 4
  • Article   81 Subsidies/state Aid 4
  • Chapter   VIII Transparency 4
  • Article   82 Publication 4
  • Article   83 Contact Points and Exchange of Information 4
  • Article   84 Cooperation on Increased Transparency 4
  • Chapter   IX Administration of the Agreement 4
  • Article   85 The Joint Committee 4
  • Article   86 The Secretariat 4
  • Chapter   X Dispute Settlement 4
  • Article   87 Scope 4
  • Article   88 Choice of Forum 4
  • Article   89 Good Offices, Conciliation or Mediation 4
  • Article   90 Consultations 4
  • Article   91 Establishment of Arbitration Panel 4
  • Article   92 Arbitration Panel 4
  • Article   93 Procedures of the Arbitration Panel 4
  • Article   94 Ruling 4
  • Article   95 Termination of Arbitration Panel Proceedings 4
  • Article   96 Implementation of Arbitration Panel Rulings 4
  • Article   97 Other Provisions 4
  • Chapter   XI General Exceptions 4
  • Article   98 Balance of Payments Difficulties 4
  • Article   99 National Security Clause 4
  • Article   100 Taxation 4
  • Chapter   XII Final Provisions 4
  • Article   101 Definitions 4
  • Article   102 Annexes and Appendices 4
  • Article   103 Amendments 4
  • Article   104 Additional Parties 4
  • Article   105 Withdrawal and Termination 5
  • Article   106 Entry Into Force 5
  • Article   107 Relation to the Complementary Agreements 5
  • Article   108 Depositary 5
  • Annex X  REFERRED TO IN ARTICLE 35. RESERVATIONS 5
  • Appendix 1  Reservations by Chile 5
  • Appendix 2  Reservations by Iceland 5
  • Appendix 3  Reservations by Liechtenstein 6
  • Appendix 4  Reservations by Norway 6
  • Appendix 5  Reservations by Switzerland 6
  • Appendix 6  Reservations by All Parties 7
  • Appendix 7  Reservations by the EFTA States 7