(Annex X to the Agreement referred to in Article 132 of the Agreement)
ANNEX VISupplementary provisions
ANNEX VI (Annex X to the Agreement referred to in Article 132 of the Agreement) SCHEDULES OF SPECIFIC COMMITMENTS ON ESTABLISHMENT PART A COMMUNITY'S SCHEDULE Introductory note 1. The specific commitments in this schedule apply only to the territories in which the Treaties establishing the Community are applied and under the conditions laid down in these Treaties. These commitments apply only to the relations between the Community and its Member States on the one hand, and non-Community countries on the other. They do not affect the rights and obligations of Member States arising from Community law. 2. The following abbreviations are used to indicate the Member States: AT Austria BE Belgium BG Bulgaria CY Cyprus CZ Czech Republic DE Germany DK Denmark EE Estonia EL Greece ES Spain FI Finland FR France HU Hungary IE Ireland IT Italy LT Lithuania LU Luxembourg LV Latvia MT Malta NL The Netherlands PL Poland PT Portugal RO Romania SE Sweden SI Slovenia SK Slovak Republic UK United Kingdom ‘Subsidiary’ of a legal person means a legal person which is effectively controlled by another legal person. ‘Branch’ of a legal person means a place of business not having legal personality which has the appearance of permanency, such as the extension of a parent body, has a management and is materially equipped to negotiate business with third parties so that the latter, although knowing that there will if necessary be a legal link with the parent body, the head office of which is abroad, do not have to deal directly with such parent body but may transact business at the place of business constituting the extension. Sector or subsector Limitations on national treatment to establishment 1. HORIZONTAL COMMITMENTS All sectors included in this schedule (a) Treatment accorded to subsidiaries (of Chilean companies) formed in accordance with the law of a Member State and having their registered office, central administration or principal place of business within the Community is not extended to branches or agencies established in a Member State by a Chilean company. However, this does not prevent a Member State from extending this treatment to branches or agencies established in another Member State by a Chilean company or firm, as regards their operation in the first Member State's territory, unless such extension is explicitly prohibited by Community law. (b) Treatment less favourable may be accorded to subsidiaries (of Chilean companies) formed in accordance with the law of a Member State which have only their registered office or central administration in the territory of the Community, unless it can be shown that they possess an effective and continuous link with the economy of one of the Member States. Formation of legal entity AT : without prejudice to existing treaties, foreign natural persons may exercise a business on equal terms as Austrian nationals. However, evidence has to be presented to the competent authority that Austrian natural persons are in no way discriminated in the exercise of the relevant business in the foreigner's home country. If this evidence cannot be presented the foreign natural person has to apply formally for equal status with nationals. If the holder of a business permit is not a permanent resident of Austria, the appointment of a professional representative (‘gewerberechtlicher Geschäftsführer’) permanently residing in Austria is necessary. In order to acquire a business permit, foreign juridical persons or partnerships must set up an establishment and appoint a professional representative permanently residing in Austria. Without prejudice to existing treaties, a foreign professional representative has to apply for equal status with nationals. FI : at least half of the founders of a limited company need to be natural persons residing within EEA (European Economic Area) or juridical persons having their domicile in one of the EEA countries, unless the Ministry of Trade and Industry grants an exception. SE : a limited liability company (joint-stock company) may be established by one or several founders. A founding party shall either reside within the EEA (European Economic Area) or be an EEA legal entity. A partnership can only be a founding party if each partner resides within the EEA ( 1 ) . The managing director and at least 50 per cent of the members of the board shall reside within the EEA (European Economic Area). Corresponding conditions prevail for establishment of other types of legal entities. CZ : foreign natural persons may exercise a business on equal terms as Czech nationals. However, foreign natural persons can pursue activities as self-employed persons and set up and manage undertakings only by registering such undertaking in the Commercial Register, unless the person resides within the EEA (European Economic Area). If the natural persons/legal entity has not a permanent residence/seat within the EEA, it must additionally deposit data or a document on the encumbrance of the undertaking's assets in a foreign State, if the validity of a security is bound to its publication, and some other additional data, in the Commercial Register. Before registering in the Commercial Register, foreign legal persons must set up an establishment in the Czech Republic and appoint a professional representative permanently residing in the Czech Republic. MT : applications by non-residents for the issue, acquisition, sale and redemption of securities not listed on the Malta Stock Exchange in local companies established, or to be established, in Malta have to be cleared by the Registrar of Companies at the Malta Financial Services Authority MFSA). This procedure does not apply to companies as defined in Article 2 of the Income Tax Act, (that is, international holding/trading companies) and to companies which own a vessel registered under the Merchant Shipping Act, and where the resident participation does not exceed 20 %. PL : foreigners, who have received permission for residence on the territory of Poland, permission for tolerated stay, refugee status granted in Poland or who enjoy temporary protection on its territory, may undertake and pursue economic activity on the territory of Poland on the same rules as Polish citizens. Following reciprocity requirements, if ratified international agreements do not provide otherwise, foreign persons may take up and pursue economic activity on the territory of Poland on the same rules as entrepreneurs having their seat in Poland. When there is no reciprocity, foreign persons have the right to undertake and pursue economic activity on the territory of Poland only in a form of limited partnership, limited liability company and joint-stock company; they have also right to join these companies or to take and buy their shares or stocks. RO : the sole administrator or the Chairman of the Board of Administration as well as half of the total number of administrators of a commercial company shall be Romanian citizens unless otherwise stipulated in the company contract or in its statutes. The majority of a commercial company's auditors and their deputies shall be Romanian citizens. Law on foreign companies' branches SE : a foreign company (which has not established a legal entity in Sweden) shall conduct its commercial operations through a branch, established in Sweden with independent management and separate accounts. Building projects with a duration of less than a year are exempted from the requirements of establishing a branch or appointing a resident representative. SE : the managing director of a branch shall reside within the EEA (European Economic Area) ( 1 ) . SE : foreign or Swedish citizens not residing in Sweden, who wishes to conduct commercial operations in Sweden, shall appoint and register with the local authority a resident representative responsible for such activities. LT : at least one of representative of the foreign company branch must be resident in Lithuania. PL : branches — to conduct economic activity on the territory of Poland, foreign entrepreneurs may establish branches, following the rule of reciprocity requirements, if ratified international agreements do not state otherwise. The economic activity of the branch must be similar to the one which is conducted by the foreign entrepreneur and the person entitled to represent the foreign entrepreneur must be appointed. Branch is required to be registered and run separate accountancy. Agencies — foreign entrepreneurs may create agencies. The economic activity of the agency may cover only promotion and advertisement of foreign entrepreneur. Agency is required to be registered and run separate accountancy. SI : the establishment of branches by foreign companies is conditioned with the registration of the parent company in a court register in the country of origin for at least one year. Legal entities: AT : only Austrian nationals or legal entities and enterprises having their seat in Austria may be shareholders of the Oesterreichische Nationalbank (Austrian National Bank). Members of the management must be Austrian nationals. BG : the establishment of foreign service suppliers, joint ventures included, may only take the form of limited liability company or joint-stock company with at least two shareholders. Establishment of branches is subject to authorisation. Unbound for representative offices. Representative offices may not engage in economic activity. FI : at least half of the members of the board and the managing director shall reside within the EEA (European Economic Area) unless the Ministry of Trade and Industry grants an exception to the company. FI : acquisition of shares by foreign owners giving more than one third of the voting rights of a major Finnish company or a major business undertaking (with more than 1 000 employees or with a turnover exceeding 1 000 million Finnish markka or with a balance sheet total exceeding over EUR 167 million) is subject to confirmation by the Finnish authorities; the confirmation may be denied only if an important national interest would be jeopardised. A foreigner living outside the European Economic Area and carrying on a trade as a private entrepreneur or as a partner in a Finnish limited or general partnership needs a trade permit. If a foreign organisation or foundation is established under the laws of and has its registered office in an EEA country no permit is required for carrying on a business or trade by establishing a branch in Finland. Real estate purchases: AT : the acquisition, purchase as well as rent or lease of real estate by foreign natural persons and juridical persons requires an authorisation by the competent regional authorities (Länder) which will consider whether important economic, social or cultural interests are affected or not. BG : foreign natural and juridical persons (including through a branch) cannot acquire ownership of land. Bulgarian juridical persons with foreign participation cannot acquire ownership of agricultural land. Foreign juridical persons and foreign citizens with permanent residence abroad can acquire ownership of buildings and limited property rights ( 2 ) in real estate. CY : unbound CZ : the real estate can be acquired solely by natural persons having their permanent residence, and legal persons with their seat or branch in the territory of the Czech Republic. Special regime applies to the agricultural land and forests, which can be acquired only by residents (i.e. natural persons with permanent residents or legal persons with their seat in the territory of the Czech Republic) and the participation in the privatisation of the State agricultural land and forests is limited solely to the citizens of the Czech Republic. EE : reservation to purchasing agricultural land and forests, as well as land in the border areas. DK : limitations on real estate purchase by non-resident physical and legal entities. Limitations on agricultural estate purchased by foreign physical and legal entities. ES : reservation to the purchase of real estate by governments, official institutions and public enterprises originating in non-Community member countries. EL : according to Law 1892/90, as amended by Law 1969/91, acquisition of real estate in the border regions either directly or through equity participation in a company which is not listed in the Greek Stock Exchange and which owns real estate in those regions or any change in the persons of the stockholders of such company are subject to a permit issued by the competent authorities (Ministry of Defence in the case of non-EU natural or legal persons). IE : prior written consent of the Land Commission is necessary for the acquisition of any interest in Irish land by domestic or foreign companies or foreign nationals. Where such land is for industrial use (other than agricultural industry), this requirement is waived subject to a certificate to this effect from the Minister for Enterprise and Employment. This law does not apply to land within the boundaries of cities and towns. HU : unbound for the acquisition of State-owned properties by foreign natural persons and juridical persons. LT : unbound in relation to acquisition of land by foreign subjects (natural and legal persons), however they may manage or use such property in accordance with the procedure established by Lithuanian laws. LV : unbound in relation to acquisition of land by juridical persons. Land lease not exceeding 99 years permitted. MT : the requirements of Maltese legislation and regulations regarding the acquisition of real property shall continue to apply. RO : natural persons not having Romanian citizenship and residence in Romania, as well as legal persons not having Romanian nationality and their headquarters in Romania, cannot acquire ownership over any kind of land plots through inter vivos acts. SI : juridical persons, established in the Republic of Slovenia with foreign capital participation, may acquire real estate on the territory of the Republic of Slovenia. Branches ( 3 ) established in the Republic of Slovenia by foreign persons may only acquire real estate, except land, necessary for the conduct of the economic activities for which they are established. Ownership of real estate in the border areas of 10 km by companies in which majority of capital or voting rights belongs directly or indirectly to juridical persons or nationals of another Member is subject to special permission. SK : limitations on real estate acquisition by foreign physical and legal entities. Foreign entities may acquire real property through establishment of Slovak legal entities or participation in joint ventures. Acquisition of the land by foreign entities is subject to authorisation. IT : unbound for purchase of real estate. FI : (Åland Islands) restrictions on the right for natural persons who do not enjoy regional citizenship in Åland, and for legal persons, to acquire and hold real property on the Åland Islands without permission by the competent authorities of the islands. FI : (Åland Islands) restrictions on the right of establishment and the right to provide services by natural persons who do not enjoy regional citizenship in Åland, or by any legal person, without permission by the competent authorities of the Åland Islands. PL : acquisition of real estate, direct and indirect, by foreigners and foreign legal persons requires permission. PL : unbound, except for: buying independent apartment or buying real estate by a foreign national living in Poland at least for five years after obtaining the permanent residence card; buying by a legal person with a corporate seat in Poland and controlled directly or indirectly by a foreign natural person or a foreign legal person with a corporate seat abroad, for statutory objectives, of real estate without buildings, whose total area in Poland does not exceed 0,4 ha in urban area. Investments: BG : certain economic activities related to the exploitation or use of State or public property are subject to concessions granted under the provisions of the Concessions Act. CY : portfolio investment: investors from non-EU countries may invest only up to 49 % of the share capital of Cypriot companies listed on the Cyprus Stock Exchange. Transactions involving such investments may be carried out by Cypriot stockbrokers and public companies without reference to the Central Bank of Cyprus. CY : entities with foreign participation must have paid-up capital commensurate with their finance requirements and non-residents must finance their contribution through the importation of foreign exchange. In case the non-resident participation exceeds 24 per cent, any additional financing for working capital requirements or otherwise should be raised from local and foreign sources in proportion to the participation of residents and non-residents in the entity's equity. In the case of branches of foreign companies, all capital for the initial investment must be provided from foreign sources. Borrowing from local sources is only permitted after the initial implementation of the project, for financing working capital requirements. ES : investment in Spain by foreign government and foreign public entities (which tends to imply, besides economic, also non-economic interests to entity's part), directly or through companies or other entities controlled directly or indirectly by foreign governments, need prior authorisation by the government. FR : foreign purchases exceeding 33,33 % of the shares of capital or voting rights in existing French enterprise, or 20 % in publicly quoted French companies, are subject to the following regulations: — after a period of one month following prior notification, authorisation is tacitly granted for other investments unless the Minister of Economic Affairs has, in exceptional circumstances, exercised its right to postpone the investment. FR : foreign participation in newly privatised companies may be limited to a variable amount, determined by the government of France on a case by case basis, of the equity offered to the public. FR : for establishing in certain commercial, industrial or artisanal activities, a specific authorisation is needed if the managing director is not holder of a permanent residence permit. IT : exclusive rights may be granted or maintained to newly privatised companies. Voting rights in newly privatised companies may be restricted in some cases. For a period of five years, the acquisition of large equity stakes of companies operating in the fields of defence, and energy may be subject to the approval of the Ministry of Treasury. LT : investments in organising the lotteries are forbidden under the Law on Foreign Capital Investment. MT : companies with the participation of non-resident legal or natural persons are subject to the same capital requirement applicable to companies that are fully owned by residents, as follows: private companies — Lm 500 (with a minimum of 20 % as paid-up capital); public companies — Lm 200 (with a minimum of 25 % paid-up capital). The non-resident percentage of share of the equity is to be paid for with funds emanating from abroad. Companies with non-resident participation must apply for a permit from the Ministry of Finance to acquire premises under the appropriate legislation. PT : foreign participation in newly privatised companies may be limited to a variable amount, determined by the Government of Portugal on a case by case basis, of the equity offered to the public. PL : authorisation of the establishment of a company with foreign equity is required in the case of: — establishment of company, purchase or acquiring of shares or stocks in an existing company; extending of the activity of the company when the scope of activity embraces at least one of the following areas: — management of seaports and airports, — dealing in real estate or acting as intermediary in real estate transactions, — supply to defence industry that is not covered by other licensing requirements, — wholesale trade in imported consumer goods, — provision of legal advisory services, — establishment of a joint-venture company with a foreign equity in which the Polish Party is a State legal person and is contributing non-pecuniary assets as initial capital, — arranging a contract, that includes right to use of State property for more than six months or decides on acquiring of such property. Exchange regime ( 4 ) , ( 5 ) , ( 6 ) BG : payments and transfers abroad require the authorisation of the Bulgarian National Bank when related to investments and State or State-guaranteed loans ( 7 ) . Currency deals in cash by occupation may be transacted by any person registered under the Commercial Law where such a person is registered in a public register of persons conducting business pursuant to the legislation of a Member State of the European Union or another country which is party to the European Economic Area, and where the person is registered in the public register as a currency exchange bureau. CY : under the Exchange Control Law, non-residents are not normally permitted to borrow from local sources. SK : in relation to current payments, limitation on acquisition of foreign exchange by resident nationals for personal purposes. In relation to capital payments, foreign exchange authorisation required for acceptance of financial credits from foreign subjects, direct capital investments abroad, acquisition of real estate abroad and purchase of foreign securities. Residency requirements AT : managing directors of branches and juridical persons have to be resident in Austria; natural persons responsible within a juridical person or a branch for the observance of the Austrian Trade Act must be resident in Austria. AT : all foreigners are subject to the provisions of the Foreigners' Act and the Residence Act concerning entry, stay and work. In addition, foreign workers, including key personnel and investors, except for EEA-nationals, are subject to the provisions of the Foreign Labour Act including the labour market test and the quota system. If an investor commits an investment which has a positive effect on the entire Austrian economy or a whole sector of the Austrian economy, the labour market test can be dropped for him and for individual cases of essential key personnel. Investors who furnish proof that they hold at least 25 per cent in a partnership (‘Personengesellschaft’) or a public limited company (‘Gesellschaft mit beschränkter Haftung’) and that they exert a decisive influence on that company are exempted from the Foreign Labour Act. BG : all foreigners are subject to the provisions of the Foreigners' Act concerning entry, stay and work, including period of stay, and respective entry and residence permits are required. LT : at least one of representative of the foreign company branch must be resident in Lithuania. MT : the requirements of Maltese legislation and regulations regarding entry and stay shall continue to apply, including regulations concerning period of stay. Entry and residence permits are granted at the discretion of the Government of Malta. SK : a foreign natural person whose name is to be registered in the Commercial Register as a person authorised to act on behalf of the entrepreneur is required to submit residence permit for the Slovak Republic. Privatisation BG : unbound for participation in privatisation through State external debt bonds and for economic sectors not subject to privatisation under the annual privatisation programme. Unbound for participation in privatisation through investment vouchers or other preferential privatisation methods, where Bulgarian citizenship and permanent residence are required. RO : unbound Sector or subsector Limitations on national treatment to establishment 2. SECTOR-SPECIFIC COMMITMENTS (based on UN ISIC rev.3 classification) A. Agriculture, hunting, forestry 1. Agriculture, hunting excluding services 2. Forestry, logging excluding services AT : reservation. BG : unbound for acquisition of agricultural land and forest. CY : up to 49 % non-EU participation is allowed. The indicative minimum level of investment is CY£ 100 000 . FR : reservation on the establishment of agricultural enterprises by nationals of countries that are not members of the Community and the acquisition of vineyards. HU : unbound IE : reservation on the acquisition by non-Community nationals of land for agricultural purposes, unless an authorisation is granted; investment by non-Community residents in flour milling activities. LT : unbound in relation of the acquisition by foreign subjects (natural and legal persons) into ownership of land, internal waters and forests in accordance with constitutional law. MT : unbound RO : unbound for acquisition of agricultural land and forest. SK : reservation on the acquisition of land for agricultural purposes and other land as set in the Foreign Exchange Act, unless an authorisation is granted. B. Fishing 5. Fishing, operation of fish hatcheries and fish farms excluding services. AT : acquisition of 25 % or more of vessels registered in Austria. BE : reservation on the acquisition of Belgian flag vessels by shipping companies not having their principal office in Belgium. BG : unbound CY : up to 49 % non-EU participation is allowed. The indicative minimum level of investment is CY£ 100 000 . DK : reservation on the ownership by non-EC residents of one-third or more of a business engaged in commercial fishing; ownership of flag vessels by non-EC residents, except through an enterprise incorporated in Denmark. FR : reservation on the settling of non-Community nationals or non-EFTA nationals on the maritime State property for fish/shellfish/algae farming. FI : reservation on the ownership of Finnish flag vessels, including fishing vessels, except through an enterprise incorporated in Finland. FR : reservation on the ownership after acquisition of more than 50 per cent of a French flag vessel, unless the vessel concerned is entirely owned by enterprises having their principal office in France. DE : sea fishing licence granted only to vessels entitled to fly the flag of Germany. These are fishing vessels of which the majority of shares is owned by Community citizens or companies established in accordance with Community rules and that have their principal place of business in a Member State. The use of the vessels must be headed and supervised by persons residing in Germany. In order to obtain a fishing licence, all fishing vessels must register with the relevant coastal States in which the ships have their homeports. EE : ships are entitled to fly Estonian flag if located in Estonia and majority ownership is held by Estonian nationals in general in partnership and in limited partnership companies, or other legal entities that are located in Estonia with voting majority held by Estonian nationals in the Board of Management. EL : ownership of a vessel under the Greek flag is limited to 49 per cent for non-EU natural or legal persons. HU : unbound IE : reservation on the acquisition by non-Community nationals of sea fishing vessels registered in Ireland. IT : reservation on the purchase by foreigners other than Community residents of a majority interest in Italian flag vessels or of a controlling interest in ship owning companies having their headquarters in Italy; purchase of Italian flag vessels used to fish in Italian territorial waters. LT : unbound LV : reservation as regards registration of ownership of Latvia's fishing vessels by natural persons who are not either citizens or non-citizens of the Republic of Latvia or are not Latvia's legal persons, except through an enterprise established in Latvia. MT : unbound NL : reservation on the ownership of Netherlands flag vessels, unless the investment is made by shipping companies incorporated under Netherlands law, established in the Kingdom and having their actual place of management in The Netherlands. PT : reservation on the ownership of Portuguese flag vessels other than through an enterprise incorporated in Portugal. RO : unbound SE : reservation on the acquisition of 50 per cent or more of Swedish flag vessels, except through an enterprise incorporated in Sweden; establishment of, or acquisition of 50 per cent or more of shares in firms engaged in commercial fishing activities in Swedish waters, unless an authorisation is granted. Restrictions on the right of fishing and limitations on which fishing vessels may obtain a license and become a part of the Swedish fishing fleet are found in the Swedish fisheries legislation. SK : reservation on the ownership of Slovak flag vessels, except through an enterprise incorporated in the Slovak Republic. UK : reservation on the acquisition of UK flagged vessels, unless the investment is at least 75 % owned by British citizens and/or by companies which are at least 75 % owned by British citizens, in all cases resident and domiciled in the UK. Vessels must be managed, directed and controlled from within the UK. C. Mining and quarrying 10. Mining of coal and lignite; extraction of peat 11. Extraction of crude petroleum and natural gas; excluding services 12. Mining of uranium and thorium ores 13. Mining of metal ores 14. Other mining and quarrying BG : the right of prospection, exploration and exploitation of natural materials, including mineral raw materials and ores, is subject to a time-limited concession granted by the Bulgarian State. The prospection and/or exploration and concessions for extraction are granted to natural and legal persons registered as traders in the Commercial register who possess relevant technical, management and financial possibilities. Unbound for the extraction of gold from rivers and salt and elements from sea water. CZ : unbound EL : the right of exploration and exploitation of all minerals, except hydrocarbons, solid fuels, radioactive minerals and geothermal potential is subject to a concession by the Greek State, after approval of the Council of Ministers. ES : reservation on investment originating in non-Community member countries in strategic minerals. FR : establishment by a non-resident in extractive industries must be carried out in the form of a French or European subsidiary, whose manager must be resident in France or other country and declare his place of residence to the local prefet authorities. HU : the right of prospecting for, exploration and exploitation of mineral raw materials may be subject to a time-limited concession granted by the Hungarian State. LT : unbound MT : unbound RO : unbound EC : reservation on prospection, exploration and exploitation of hydrocarbons: in accordance with Directive 94/22/EC of 30 May 1994 ( OJ No L 164 of 30/06/94 ), whenever it appears that a third country is not granting Community entities as regards access to and exercise of these activities treatment comparable to that which the Community grants entities from that country, the Council could, on a proposal of the Commission, authorise a Member State to refuse authorisation to an entity which is effectively controlled by the third country concerned and/or by nationals of that country (reciprocity). D. Manufacturing 15. Manufacture of food products and beverages 16. Manufacture of tobacco products 17. Manufacture of textiles 18. Manufacture of wearing apparel; dressing and dyeing of fur 19. Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear 20. Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials 21. Manufacture of paper and paper products 22. Publishing, printing and reproduction of recorded media 23. Manufacture of coke, refined petroleum products and nuclear fuel 24. Manufacture of chemicals and chemical products 25. Manufacture of rubber and plastics products 26. Manufacture of other non-metallic mineral products 27. Manufacture of basic metals 28. Manufacture of fabricated metal products, except machinery and equipment 29. Manufacture of machinery and equipment n.e.c. 30. Manufacture of office, accounting and computing machinery 31. Manufacture of electrical machinery and apparatus n.e.c. 32. Manufacture of radio, television and communication equipment and apparatus 33. Manufacture of medical, precision and optical instruments, watches and clocks 34. Manufacture of motor vehicles, trailers and semi-trailers 35. Manufacture of other transport equipment 36. Manufacture of furniture; manufacturing n.e.c. 37. Recycling None BG : production of alcohol beverages, distillate and spirit is subject to registration and can be performed by entities registered under the Trade Law or under the legislation of an EU or EEA Member State. Production of tobacco products and processing of tobacco is subject to authorisation by the Council of Ministers and can be performed by entities registered under the Trade Law or under the legislation of an EU or EEA Member State. Reservation for exploitation of nuclear installation or equipment and disposal of nuclear fuel subject to licensing. Production, import and distribution of pharmaceuticals and veterinary medical products requires authorisation of the principal representative in Bulgaria. Activities related to disposal and management of waste are subject to authorisation. OTHER MANUFACTURING AT : production of non-military arms and ammunitions are subject to EEA nationality requirement. Production of military arms and ammunitions are subject to an Austrian nationality requirement. Juridical persons and partnerships: registered office or head office in Austria. The company's professional representative or managing partners empowered to act on its behalf must be EEA nationals. BG : the manufacture of and trade in arms, ammunitions, explosives and dual use items and technologies are subject to licensing or registration requirement and can be performed by entities registered under the Trade Law. E. Electricity, gas and water supply 40. Electricity, gas steam and hot water supply AT : unbound BG : the activities related to electricity, gas and hot water are subject to licensing requirement. Licences are issued to legal persons registered under the Trade Law or under the legislation of an EU or EEA Member State. CZ : unbound FR : concessions and authorisations in hydroelectricity can be given only to French nationals or to nationals from the Community, as well as to nationals of third countries, with which reciprocity agreements have been concluded with respect to exploitation of hydroelectricity. FI : reservation on investment in an enterprise engaged in activities involving nuclear energy or nuclear matter. EL : solid fuels, radioactive minerals and geothermal energy: an exploration licence may not be granted to non-Community natural or legal persons. The right of exploitation is subject to a concession by the Greek State, after approval by the Council of Ministers. HU : unbound LV : State monopoly in the sector of electro energy. MT : unbound PT : reservation on investment in an enterprise engaged in the import, transport and supply of natural gas. The Portuguese Government is competent to define the conditions to be fulfilled by enterprises wishing to perform those activities. RO : unbound SK : conformity with energy policy of the Slovak Republic is required. Reservation on investment in enterprises characterised as natural monopolies. The government can limit import and export of electricity and gas in the following cases: — rights and obligations of producers and purchasers of electricity and gas are not similar or beyond to rights and obligations of producers and purchasers in the Slovak Republic, — the precautions of individual producers relating to the protection of environment are not similar or beyond to the protection of environment carried out in the Slovak Republic, — the import or export of electricity limits the use of electricity from renewable sources or from domestic coal sources. ( 1 ) Exceptions from these requirements may be granted, if it can be proved that residency is not necessary. ( 2 ) The Bulgarian property law recognizes the following limited property rights: right to use, right to build, right to raise a superstructure and servitudes. ( 3 ) SI: according to the Law on Commercial Companies, a branch established in the Republic of Slovenia is not considered a juridical person, but as regards their operation, their treatment is equal to a subsidiary. ( 4 ) CZ: non-discriminatory system of foreign exchange control is applied consisting of: (a) limitation on acquisition of foreign exchange by resident nationals for personal purposes, b) foreign exchange authorisation in case of Czech residents for acceptance of financial credits from foreign subjects, direct capital investment abroad, acquisition of real estate abroad and purchases of foreign securities. ( 5 ) PL: there is non-discriminatory system of foreign exchange controls relating to limitations in foreign exchange turnover and to system of foreign exchange permits (general and individual) among others limitations of capital flows and currency payments. The following foreign exchange transactions require authorisation: — transfer of foreign exchange out of the country, — transfer of Polish currency into the country, — ownership transfer of the right to monetary assets between domestic and foreign persons, — granting and drawing of loans and credits by domestic persons in foreign exchange transactions, — fixing or executing payments in foreign currencies within Poland for acquired goods, real estate, property rights, services or labour, — opening and possessing of a banking account in a bank situated abroad, — acquiring and holding foreign securities and acquiring real estate abroad, — undertaking other obligations abroad of similar effect. ( 6 ) SK: entries being listed for transparency reasons. ( 7 ) Foreign persons have the right to transfer abroad the following revenues and compensations that accrue from their investments in the Republic of Bulgaria: returns received, compensation for expropriation of the investment for state purposes, proceeds from the liquidation or sale of all or part of the investment, the amount received in execution of a claim secured in currency by a pledge or a mortgage.