LAW OF TURKMENISTAN

of May 19, 1992 No. 698-XII

About investing activities

This Law determines legal, economic and social conditions of investing activities in the territory of Turkmenistan. It is aimed at providing equal protection of the rights, interests and property of subjects of investing activities regardless of patterns of ownership.

Chapter I. General provisions

Article 1. Investments

Investments are all types of the property and intellectual values put in objects entrepreneurial and other types of activity as a result of which the profit (income) is formed or the social effect is reached.

Can be such values:

money, purpose-oriented bank deposits, shares, shares and other securities;

personal and real estate (buildings, constructions, equipment and other material values);

the property rights following from copyright, "know-how", experience and other intellectual values;

rights to use by the earth and other natural resources, and also other property rights;

other values.

Investments into reproduction of fixed assets can be performed in the form of capital investments.

Article 2. Investing activities

1. The investing activities are understood as set of practical actions of the state, physical persons and legal entities on realization of investments.

2. The investing activities are performed on basis:

the investment performed by physical persons, economic associations, societies and partnerships, and also the public and religious organizations, other legal entities of Turkmenistan irrespective of patterns of ownership;

the state investment performed by bodies of authority and management of Turkmenistan, bodies of the local executive authority at the expense of means of budgets, off-budget funds and borrowed funds and also the state companies and organizations at the expense of own and borrowed funds;

investments by foreign states, legal entities and physical persons, and also stateless persons;

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