Article 1 Definitions

1. The Term "investor" shall mean with regard to either Contracting Party any natural person who is a citizen of the Contracting Party and any legal person constituted or incorporated in accordance with the legislation of that Contracting Party and having its seat in its territory, provided that the natural person or the legal person is authorized in accordance with the legislation of the Contracting Party to make investments in the territory of the other Contracting Party.

2. The Term "investments" shall mean all kinds of assets invested by investors of one Contracting Party in the territory of the other Contracting Party in accordance with its legislation, in particular:

- movable and immovable property, as well as any rights in rem;

- financial assets as well as shares, deposits and other forms of participation;

- the rights of claim on financial assets invested to create economic value or on services having economic value;

- copyrights, rights on inventions, industrial samples, trademarks or service marks, brand names as well as technology and know-how;

- rights to carry out economic activities conferred by law or under contract including, in particular, the rights to explore, exploit and utilize natural resources.

Any change in the form in which assets are invested shall not affect their substance as investments provided that such a change is not contrary to the legislation of the Contracting Party in the territory of which investments are made.

3. The Term "revenues" shall mean sums obtained from investments as provided for in paragraph 2 of this Article, and includes profit, share of profit, dividends, interest, licence and commission fees, payments for technical assistance and technical maintenance and other remuneration payments.

4. The Term "territory" shall mean the territory of the Russian Federation or the territory of the Republic of Cyprus, and shall include their respective exclusive economic zone and continental shelf as defined by the international law.