03/11/2016 - CONDITION OF RECIPROCITY - CORPORATE OFFICES IN ITALY

Bilateral Investment Treaties ratified by the Italian State might rule out the application of the condition of reciprocity (article 16 preleggi) in case of assumption of corporate offices by foreign investors.

In some cases, the application of the standards of protection provided for by a Bilateral Investment Treaty on behalf of investors of the other contracting State, e.g. the fair and equitable treatment, national treatment and most favored nation treatment, might be interpreted to cover the assumption of corporate offices by the foreigner and to exclude the application of the condition of reciprocity.

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Sondra Faccio