Article 1 Definitions

Article 1
Definitions

For the purposes of this Agreement the following meanings apply:

a) "investor" (in relation to each of the Contracting Parties):

any natural person who is a citizen of the state of that Contracting Party;

any legal entity created or founded in accordance with the legislation of that Contracting Party;

b) "capital investment" - all forms of assets, invested by an investor of one Contracting Party on the territory of the other Contracting Party in accordance with the legislation of the later, including:

movable and immovable property;

shares, holdings and other forms of participation in the capital of commercial organisations;

rights of claim to monetary resources invested to create economic value, or under contracts, having an economic value and related to capital investment;

exclusive rights to items of intellectual property (author's rights, patents, industrial models, patterns, trade marks and service marks, technology, information having a commercial value and know-how);

rights to carry out entrepreneurial activity, granted on the basis of law or an agreement, including relating to the prospecting, development and extraction and exploitation of natural resources.

No change in the form of capital investment is to effect their classification as capital investment, if such change does not contradict the legislation of the Contracting Party on the territory of which the capital investment is carried out;

c) "income" - resources received from capital investment, including profit, dividends, interest, licence and other payments;

d) "territory of a Contracting Party" - the territory of the Russian Federation or the territory of the Republic of Yemen, and their economic exclusion zones and continental shelf, defined in accordance with the UN Convention on Marine Law (1982);

e) "the legislation of a Contracting Party" - the laws and other normative legal acts of the Russian Federation or the laws and other normative legal acts of the Republic of Yemen.