- Main page
- Agreement on Partnership and Cooperation Establishing a Partnership Between the European Communities and Their Member States, of One Part, and the Russian Federation, of the Other Part (Corfu, 24 June 1994)
- TITLE IV PROVISIONS ON BUSINESS AND INVESTMENT
- CHAPTER II CONDITIONS AFFECTING THE ESTABLISHMENT AND OPERATION OF COMPANIES
- Article 28
Article 28
Article 28
1. The Community and its Member States of the one part and Russia of the other part, shall grant to each other treatment no less favourable than that accorded to any third country, with regard to conditions affecting the establishment of companies in their territories and this in conformity with the legislation and regulations applicable in each Party.
2. Without prejudice to the reservations listed in Annex 3, the Community and its Member States shall grant to Community subsidiaries of Russian companies a treatment no less favourable than that granted to other Community companies or to Community companies which are subsidiaries of any third country companies whichever is the better, in respect of their operation and this in conformity with their legislation and regulations.
3. Without prejudice to the reservations listed in Annex 4, Russia shall grant to Russian subsidiaries of Community companies a treatment no less favourable than that granted to other Russian companies or to Russian companies which are subsidiaries of any third country companies whichever is the better, in respect of their operation and this in conformity with its legislation and regulations.
4. The Community and its Member States of the one part and Russia of the other part shall grant to branches of Russian and Community companies respectively a treatment no less favourable than that accorded to branches of companies of any third country, in respect of their operation and this in conformity with their legislation and regulations.
5. The provisions of paragraphs 2 and 3 cannot be used so as to circumvent a Party's legislation and regulations applicable to access to specific sectors or activities by subsidiaries of companies of the other Party established in the territory of such first Party.
The treatment referred to in paragraphs 2 and 3 shall benefit companies established in the Community and Russia respectively at the date of entry into force of this Agreement and companies established after that date once they are established.