The UAE recently signed an initial agreement to protect and encourage investments with Greece.
This initial agreement mirrors the double taxation agreement signed between the two countries in January 2010 and amended in June 2013 and now with new projections.
Both of the agreements aim to provide a set of laws supportive of the economic balance and the reciprocal protection of investments between the two parties.
The signing of the agreement will provide a suitable investment environment to safeguard against non-commercial and political risks such as direct or indirect nationalisation confiscation and seizure, providing financial compensation in case investments were destroyed due to popular uprisings, conflicts or any action taken by the security force putting the investments to damage or destruction.
In addition, it is important for both countries to respect their obligations towards the investors and the free convertibility of dividends and return on investments which are only possible with free and immediate currency exchange, including the revenues and profits on national airlines.
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