The Republic of Nicaragua reserves the right to adopt or maintain any measures relating to investment in, or provision of legal services.
Sector: Communications
Obligations Concerned: Most-Favored-Nation Treatment (Articles 10.04, Investment and 11.03, Services)
Description: Cross-Border Services and Investment
The Republic of Nicaragua reserves the right to adopt or maintain any measure that accords differential treatment to persons of other countries due to application of reciprocity measures or through international agreements involving sharing of the radio spectrum, guaranteeing market access, or national treatment with respect to the one-way satellite transmission of direct-to-home (DTH) and direct broadcasting satellite (DBS) television services and digital audio services.
Sector: Communication services - Audiovisual services - Television broadcast transmission services and Radio Broadcast transmission services
Obligations Concerned: National Treatment (Articles 10.03, Investment and 11.02, Services) Most-Favored-Nation Treatment (Articles 10.04, Investment and 11.03, Services) Local Presence (Article 11.06, Services) Performance Requirements (Article 10.09, Investment) Senior Management and Boards of Directors (Article 10.10, Investment)
Description: Cross-Border Services and Investment
The Republic of Nicaragua reserves the right to adopt or maintain any measure relating to investment in, or the provision of, television and radio broadcast transmission services.
Sector: All Sectors
Obligations Concerned: Most-Favored-Nation Treatment (Articles 10.04, Investment and 11.03, Services)
Description: Cross-Border Services and Investment
The Republic of Nicaragua reserves, vis-a-vis the Republic of China (Taiwan), the right to adopt or maintain any measure that accords differential treatment to countries under any bilateral or multilateral international agreement in force or signed prior to the date of entry into force of this Agreement.
The Republic of Nicaragua reserves the right to adopt or maintain any measure that accords differential treatment to countries under any bilateral or multilateral international
agreement in force or signed after the date of entry into force of this Agreement involving:
(a) aviation;
(b) fisheries; or
(c) maritime matters, including salvage.
Sector: Coastal Lands, Islands, and River Banks
Obligations Concerned: National Treatment (Article 10.03, Investment)
Description: Investment
The Republic of Nicaragua reserves the right to adopt or maintain any measure with respect to coastal lands, islands, and river banks under the possession of the Republic of Nicaragua.
Sector: Social Services
Obligations Concerned: National Treatment (Articles 10.03, Investment and 11.02, Services) Most-Favored-Nation Treatment (Articles 10.04, Investment and 11.03, Services) Local Presence (Article 11.06, Services) Performance Requirements (Article 10.09, Investment ) Senior Management and Boards of Directors (Article 10.10, Investment)
Description: Cross-Border Services and Investment
The Republic of Nicaragua reserves the right to adopt or maintain any measure with respect to the provision of law enforcement and correctional services, and the following services to the extent they are social services established or maintained for a public purpose: income security or insurance, social security or insurance, social welfare, public education, public training, health, and child care.
Annex I. Schedule of the Republic of China (Taiwan)
Sector: All sectors
Obligations Concerned: National Treatment (Article 10.03)
Measures: Article 17, 18 and 19 of Land Law of October 31, 2001
Description: Investment
Land used for forests reserves, aquaculture, hunting reserves, desalination fields, mineral deposits areas, water resources, military purposes, and land adjacent to the national frontiers shall not be leased to and transferred to foreigners, or used as collateral by the Republic of China (Taiwan) nationals to foreigners.
Nicaragian nationals (natural and legal persons) shall have the same rights to acquire land in the Republic of China (Taiwan) as those accorded under treaties and Nicaragian laws to the Republic of China (Taiwan) nationals acquiring land in the Republic of Nicaragua, provided that such acquisition of land in the Republic of China (Taiwan) by Nicaragian nationals is consistent with the purposes and uses specified in Article 19 of the Republic of China (Taiwan) Land Law and not subject to the restrictions of Article 17 of the same law.
Sector: Business services - Placement and supply services of personnel
Obligations Concerned: Local Presence (Article 11.06)
Measures: Articles 16 and 17 of Regulations for Authorization and Administration of Private Employment Service Agencies of January 13, 2004
Description: Cross-Border Services
Foreign employment service agencies have to apply for recognition from the competent authorities to refer foreign people to work in the Republic of China (Taiwan), or people living in Hong Kong, Macau, and Mainland China to work in the Republic of China (Taiwan) according to relevant regulations, provided such employment service agencies shall not engage in employment services within the Republic of China (Taiwan).
The competent authorities may authorize foreign employment service agencies to set up commercial presence to provide full employment services in the Republic of China (Taiwan) according to the situation of domestic economy and employment market.
Sector: Business services - Professional services
Obligations Concerned: Market Access (Article 11.05, Services) Local Presence (Article 11.06, Services)
Measures:
CPA certification and taxation services:
Articles 10, 27 and 47 of the Certified Public Accountant Law of May 29, 2002
Article 102 of Income Tax Law of January 15, 2003
CPB bookkeeping and taxation services:
Articles 5, 7, 10, 13,19 and 36 of the Certified Public Bookkeepers Act of June 2, 2004
Architectural services:
Article 34 of Law of Architecture of January 20, 2004
Articles 1, 6 and 54 of Architects Act of June 15, 2005
Professional engineering services:
Paragraph 1 of Article 6 and Article 24 of Professional Engineers Act of June 26, 2002
Article 5, Article 6 and 7 of Act Governing the Administration of Professional Engineering Consulting Firms of July 2, 2003
Veterinary services:
Article 17 of Law Governing Veterinarian of January 30, 2002
Notary services:
Article 24 and 25 of Notary Public Law
Real estate services:
Article 5 and 7 of Real Estate Brokerage Management Act of October 31, 2001
Article 12 of Land Registration Agents Law of October 24, 2001
Article 9 of Real Estate Appraiser Law of December 11, 2002
Description: Cross-Border Services
To practice CPA certification services and taxation services, CPB bookkeeping and taxation services, architectural services, professional engineering services, veterinary services, notary and real estate professional services, local presence is required, and no corporation type of commercial presence is allowed except for real estate broking services and professional engineering services, where professional engineering consulting firm is applicable.
Sector: Fisheries and Aquaculture
Obligations Concerned: National Treatment (Articles 10.03, Investment and 11.02, Services)
Measures: Article 5 of the Fisheries Law of December 18, 2002
Description: Cross-Border Services and Investment
Only citizens of the Republic of China (Taiwan) shall be qualified as fishery persons (including those engaging in aquaculture business) hereunder unless the particular foreigner has obtained the approval of the competent authority to operate fishery in cooperation with the fishermen of the Republic of China (Taiwan).
Sector: Agriculture, animal husbandry, forestry and loggings
Obligations Concerned: National Treatment (Article 10.03, Investment)
Measures: Article 7 of the Statute for Investment by Foreign Nationals of November 19, 1997
Negative List for Investment by Overseas Chinese and Foreign Nationals of May 13, 2004
Description: Investment
Foreign investment is not allowed in forestry and loggings industries.
The agriculture and animal husbandry industries in which foreign investment is restricted are:
(1) Agriculture: production on paddy rice, dryland food crops, special crops, vegetables, fruits, mushrooms, sugar-cane, flowers and other agricultural and horticultural products;
(2) Animal husbandry: raising of cattle, hogs, chickens, ducks and other animal husbandry.
Sector: Public utilities
Obligations Concerned: National Treatment (Article 10.03, Investment)
Measures: Article 16 of the Statute for Regulating Privately-owned Utilities of April 26, 2000
Description: Investment
Privately-owned utilities companies shall not have foreign stockholders or mortgage their property to foreigners for funds unless having been approved by the Executive Yuan.
Sector: Water
Obligations Concerned: National Treatment (Article 10.03, Investment)
Measures: Article 15 and 42 of the Water Act of February 6, 2003
Description: Investment
Foreigners are not allowed to acquire water rights; provided that this shall not apply to the case, which is granted by the Executive Yuan upon request by the competent authorities.
The following waters are exempt from water rights registration:
1. domestic use and livestock water consumption;
2. pond digging on private land;
3. well drilled on private land, provided that its water output yield is less than 100 liters per minute;
4. water drawn by means of human power, animal power, or other simple means.
The competent authorities may impose restrictions upon, or order a registration of, the exempted use of the above waters if such use has interfered with public water business or benefits from water use of others.
Sector: Communications-Telecommunication services
Obligation Concerned: National Treatment (Article 10.03, Investment) Senior Management and Boards of Directors (Article 10.10, Investment) Market Access (Article 11.05, Services) Local Presence (Article 11.06, Services)
Measures: Article 12 of Telecommunications Act of May 21, 2003
Article 5 of Satellite Communications Services Regulations of September 24, 2003
Description: Investment
The chairman of the Board, of a Type I telecommunications enterprise shall be a national of the Republic of China (Taiwan).
A Type I Telecommunications enterprise refers to an enterprise that installs telecommunications machinery and line facilities to provide telecommunications services. The above facilities refer to network transmission facilities connecting the sending and receiving terminals, switching facilities installed as part of the network transmission facilities and the auxiliary facilities thereof.
For the Type I Telecommunications enterprise, the total direct shareholding by foreigners may not exceed forty-nine percent, and the sum of direct and indirect shareholding by foreigners may not exceed sixty percent.
The percentage of indirect shareholding by foreigners shall be calculated by multiplying the percentage of shareholding by domestic juristic persons in the Type | telecommunications enterprise by the percentage of shareholding or capital paid by foreigners in the said domestic juristic persons.
The percentage of shareholding by foreigners in Chunghwa Telecom Co., Lid. cannot exceed twenty percent.
Cross-Border Trade in Services
The foreign Mobile Satellite Service (MSS) operators shall enter into a cooperation contract with a domestic operator of Satellite Communication Services or International Network Business of Fixed Network Telecommunications Services, while the domestic agent shall represent to promoting the MSS in the country.
The domestic operator of Satellite Communication Services or International Network Business of Fixed Network Telecommunications Services who represents foreign MSS operators promoting MSS in accordance with the provision of the preceding paragraph shall submit the related documentation and report to the MOTC (Ministry of Transportation and Communication) for approval. The domestic operator of Satellite Communication Services or International Network Business of Fixed Network Telecommunications Services shall manage the official payment such as operation franchise fee, charges of frequency usage and other statutory obligations accordance to Laws.
The domestic operator of Satellite Communication Services or International Network Business of Fixed Network Telecommunications Services prior to obtaining MOTC's approval shall not represent foreign MSS operators in promoting the business.
The domestic operator of Satellite Communication services or International Network Business of Fixed Network Telecommunications Services who represents foreign MSS operators to promote services in the country shall together with foreign MSS operators make a service contract with users and shoulder contract obligations.
Sector: Communication services - Radio and television
Obligations Concerned: National Treatment (Article 10.03, Investment) Performance Requirements (Article 10.09, Investment) Senior Management and Boards of Directors (Article 10.10, Investment) Local Presence (Article 11.06, Services)
Measures: Articles 5 and 19 of Broadcasting and Television Act of December 24, 2003
Articles 19, 20 and 43 of Cable Radio and Television Law of December 24, 2003
Articles 10 and 15 of Satellite Broadcasting Act of December 24, 2003
Description: Investment
1. Foreign capital restriction:
(1) Foreign investment in radio broadcasting and television stations is not allowed.
(2) Foreign investment in cable radio and television systems shall be less than the following thresholds:
-total shares directly held by foreign shareholders: 20%
-total direct and indirect foreign investment: 60%
(3) Foreign investment in satellite broadcasting business shall be less than 50% of total shares issued.
2. Domestically-produced programs shall not be less than the following thresholds:
-Wireless radio and television: 70%
-Cable radio and television: 20%
The above-mentioned percentages shall be calculated on the basis of the total number of hours of program transmission on the activated channels of a system operator.
3. The chairman and at least 2/3 of the board of directors and supervisors of a company operating a cable radio and/or television system shall be the Republic of China (Taiwan) nationals.
Cross-Border Services
A foreign satellite broadcasting business that engages in service operations in the Republic of China (Taiwan) shall establish a branch office in the Republic of China (Taiwan). A foreign satellite broadcasting business that engages in program supply operations in the Republic of China (Taiwan) shall set up a branch office or agent in the Republic of China (Taiwan).
Sector: Education services
Obligations Concerned: National Treatment (Article 10.03, Investment) Senior Management and Boards of Directors (Article 10.10, Investment)
Measures: Article 15 and 78 of Private School Law of February 6, 2003
Description: Investment
Foreign investment is not allowed in primary schools and junior high schools.
The chairman and at least 2/3 of the board of trustees, and the president/principal of the institution providing senior high school education, higher education, and adult education should be the Republic of China (Taiwan) nationals.
Sector: Health related and social services - Hospital services
Obligations Concerned: Senior Management and Boards of Directors (Article 10.10, Investment) Market Access (Article 11.05, Services)
Measures: Article 4 and 31 of Medical Law of April 28, 2004