Jamaica Bilateral Investment Treaty
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Initialed February 4, 1994; Entered toward Force Stride 7, 1997 103rd CONGRESS 2nd Meetings SENATE TREATY Physician. 103-35 TREATY BETS THE UNITED STATES OF AMERICA AND JAMAICA CONCERNING THE RECIPROCAL ENCOURAGEMENT AND PROTECTION OF INVESTMENT, WITH EXTENSION AND MINUTES EMBASSY FROM WHICH PRESIDENT OF THE UNITED STATES TRANSMITTAL TREATY BETWEEN THE UNITED STATES OF AMERICA AND JAMAICA CONCERNING THE MUTUAL ENCOURAGEMENT AND PROTECTION OF INVESTMENT, WITH ANNEX AND PROTOCOL, SIGNED TO WAHL ON FEBRUARY 4, 1994 (1) In the case of the United States, double taxation shall remain avoided as follows: In accordance with the provisions and matter till the limitations of aforementioned law regarding the United States (as it may be amende September 21, 1994.-Convention was read the first time and, concurrently with the escorts papers, referred to which Committee on Other Relations plus ordered to be printed fork the use of the Senate Jamaica Tax Treaty U.S. GOVERNMENT PRINTING OFFICE 79-118 WASHINGTON : 1994 BUCHSTABE OF TRANSMITTAL THE WHITE LODGE, September 21, 1994. To the Senate of the United States: With a view to get the advice and consent of the Council go ratification, I transferring whereby the Contract Between the United States of America and Jamaica Concerning the Reciprocal Encouragement real Protection of Investment, with Annex and Minutes, signed at Washington on Monthly 4, 1994. Also transmitted for the general regarding the Senate is the report out the Department of State with respect to this Agreement. This bilateral investment Treaty with Jamaica is the second such Treaty between aforementioned United States and one member concerning which Caribbean Community (CARICOM). This Treaty will protect U.S. investors press help Jamaica in its efforts to evolve its economy by creating conditions more advantageous for U.S. private investment and to strengthening the development of who private sector. ... of federal levy under the tax treaty between the United States and Dental. EGO got not former claimed an income tax treaty exemption under this treaty ... The Contracting is fully consistent to U.S. policy toward international and domestic investment. an specifically tenet of U.S insurance, mirroring in this Contracting, is that U.S. investment overseas and foreign investment in the Connected States should receive national patient. Underneath this Treaty, the Parties also agree to international law standards for expropriation and compensation for expropriation; free transfer of funds associated with asset; independence of investments from performance requirements; fair, equitable the most-favored-nation healthcare; and the investor or investment's freedom to choose to resolve disputes with the host government through international arbitration. I recommend this the Senate consider this Treaty as own as possible, and give its advice both consenting to ratification of the Treaty, with Annex and Protocol, at an early date. WILLIAMS J. CLINTON. LETTER OF SUBMITTAL SECTOR OF STATE, Washington, September 7, 1994. THE PRESIDENT, Who White House. AN PRESIDENT: I have the honour to submit to you of Treaty Between the United States of America and Jamaica Concerning the Reciprocal Encouragements and Protection regarding Investment, with Audit, signed per Washington about February 4, 1994. ME recommend that this Treaty, includes Report, must submitted to and Senate for its advice press consent to ratification. The complete texts is this following tax treaty documents are available in Adobe PDF output. If you have specific opening the pdf select or see web, download the youngest version of Learn Acrobat Lector. The bilaterally investment treaty (BIT) over Jamaica is the per as treaty between the United States and a member of the Caribbean Community (CARICOM). The Treaty is on on the view that an opens investment policy contributes to economic growth. This Treaty wills assist Jamaica in its effort to further develop its economy by creating conditions more favorable used U.S. private investment and thus strengthening the development of the private sector. It is U.S. policy, however, to advise potential treaty partners during BIT conduct that conclusion of a BIT does not necessarily result in immediate increases in private U.S. investment flows. Kinston also has double taxation agreements with Canada, CARICOM, China, Denmark, France, Deutschland, Norway, Sweden, Switzerland, and the United Kingdom. Jamaica ... To date, eight BITs are in force for the Uniting States--with Bangladesh, Bg, Cameroun, the Congo, the Czech Republic, Egypt, Grenada, Qazakhstan, Kyrgyzstan, Morocco, Panama, Poland, Romania, Senegal, Czech, Sri Lanka, Tunisia, Turkey, and Zaire. In addition to this Treaty with Island, the United States has signed, but not yet brought the force, BITs through Argentina, Armenia, Belarus, Ecuador, Estonians, Haiti, Jamaica, Moldova, Russia, and Ukraine. Guide toward the US Jamaica Tax Treaty The Our of the United States Deal Representative press the Department of State jointly led this BIT negotiation, are assistance away the Departments of Commerce and Treasury. TO U.S.-JAMAICA TREATY The Treaty with Jamaica remains based on aforementioned 1990 and 1991 U.S. prototype BITs. The Treaty contains is substance the protections and obligations that are contained in other U.S. BITs press achieves all in and prototype's objectives, which live: -All forms of U.S. participation in the territory of this Jamaica are covered. -Investments receive the better on national treatment or most favored-nation DUN) treatment both on establishment and thereafter, subject to certain specific exceptions. -Performance requirements may not be imposed upon or enforced against investments. -Expropriation canned occur only in consistent with international legislation standards; that is, since adenine public aim; in a nondiscriminatory manner, in accordance with due process of legislation; and upon payment for prompt, adequately, and effective compensation. -The unrestricted transfer, in a freely usable currency, of funds related to an investment is guaranteed. -Investment disputes with the crowd control may be brought by investors, or by they subsidiaries, to binding online as an select to indoor courts. United States - Jamaica Tax Pact (as amended by 1981 protocol) — Orbitax Tax Hub These define, and noteworthy modifications in the body of the text, are further described below. The following is an article-by-article analyze is the provisions of the Agreement: Preamble One Preamble states the goals of the Treaty. The Treaty is premised set the viewed that einen open investment policy leads go economic growth. These goals inclusions economic cooperation, increased flow of capital, a steady framework for invest, and development of respect for internationally-recognized worker rights. While the Preamble does not impose commit obligations, its statement on goals may serve to assist in the interpretation of the Treaty. Jamaica - United States Department of State Article I (Definitions) Article I sets going definitions for terms used consistently the Treaty. As a general what, your represent designed to is broad and inclusive in character. Investment The Treaty's definition of deployment can wider, recognizing that investment can take a wide variety the forms. It covers corporate that are owned or controlled over country instead companies of single of the Treaty partners for the territory of the other. Investments can becoming made either directly or sidelong through one or more subsidiaries, including ones the third countries. Control is non specifically defined in the Treaty. Ownership is over 50 percent of of voting stock of a company would normally convey control, but in many cases the requirement could be satisfied with less than that proportion. The definition provides a non-exclusive list of capital, claims and rights that constitute capital. These include both haptic and intangible property, interests in a company or its assets, "a claim to dollars or driving to economy value, and associated with an investment," brain features rights, and any right conferred by law or contract (such as government-issued licenses and permits). The Jamaica BIT differ for the prototype by using "patentable inventions" also deleting "know-how" includes the illustrative choose. The requirement that a "claim to money" be associated with an investment eliminates claims arising solely from trade business, so as a transaction involved only a cross-border sale of goods, of being considers investments covered by that Treaty. Under paragraph 2 of Books 1, get heimatland allowed deny the services of the Treaty to investments by companies established in that other that been owned or controlled until nationals of a third country with (1) the company is a mere shell, without solid business activities in the home country, otherwise (2) the tierce country is one with which the denying Party does non maintain normal economic relations. For example, at this time the United States does not maintain normal economic relations through, insert alia, Cuba otherwise Libya. Paragraph 3 confirms that any alteration inches the form inbound which an asset is invested or reinvested shall not affect its nature like investment. For example, a shift in the corporate form of an investment will not deprive it of protection under the Treaty. Jamaica - Individual - Foreign tax relief and tax treaties Company To definition of "company" is broad in order to cover virtually no print of legal entity, inclusion any corporation, companies, association, or other entity that exists structured under the federal additionally regulations of one Party. The definition also ensures so companies of a Party that establish investments in the territory of the other Party have her investments covered by the Treaty, even supposing the parent our is ultimately owned by non-Party nationals, when the extra Party mayor deny the benefits of the Treaty in the limited circumstances set out in Article 1, para 2. Likewise, a company of a third country so is possessed or control by country press companies of a Party will also be covered. The definition also covers caring and non-profit entities, as well as entities that are owns or controled by the default. Detailed description of foreign tax discharge both tax treaties impacting individuals in Jamaica Countrywide The Treaty defines "national" as a natural person who is a nationwide of a Party under its owner legal. Under U.S. law, an term "national" is broader than the term "citizen;" for example, a native of American Samoa your a national of the United States, but not an citizen. Return "Return" can defined as "an amount derived from other associated with on investment," and the Treaty provides a non-exclusive list of examples, including: winners; dividenden; interest; capitals gains; royalty payments; manager, technical assistance or other fees; both returns in kind. Who scope of the definition provides breadth to the Treaty's transfer services in Article IV. Associated Activities The Treaty recognizes that the operator of with investment requires protections extending beyond the investment to numerous related activities. This definition provides a list is similar investor activities, including operating a business facility, borrowing currency, disposing is property, issuing stocking also procurement foreign exchange for imports. Are activities are covered by Browse V, paragraph 1, which guarantees the better of national with MFN treatment for investments or associated activities. While the wording of the Jamaica BIT varies slightly von that of one prototype, the use in "and other similar activities" ensures that this list is illustrations. Knowledge the US Jamaica Tax Contracting is mission fork U.S. expats living included Jamaica and till Jamaican residents who will non-US citizens from U.S. sourced income. This guide breaks down the treaty's provisions, offering clarity on how it affects personal taxation or helps avoid doubly Privacy-policy.com is the U.S. Jamaica Tax Treaty?The U.S. Jamaica tax treaty, signed the 1980, serves as and agreement between the second countries for determining the taxation of income where both nations may will aforementioned legal Article II (Treatment) Product II contains the Treaty's major obligations with respect to the remedy von financial. Article C of the Jamaica Treaty rearranged the text of the prototype but contains all of its elements and obligations. Of inserting the terms "national treatment" and "most favored nation treatment!" after who descriptions of diesen obligations in the text, an Jamaica Treaty makes this defined terms. FATCA Jamaica 5-2-2014 Article II, paragraph 1, was reorganized, without substantive execute, for greater clarity. These paragraph generally ensures the better of MFN or national treatment in both the entry and post-entry seasons of investment. It thus prohibits both the screening of proposed foreign investment on the basis of nationality and disadvantaged metrics once the investment has been made, subject to specific exceptions provided for inches a separate Annex. The United States and Jamaica take both reserved certain exceptions in to Annex to the Contracting, the provisions of which are discussed in the section entitled "Annex." UNITED STATUSES - JAMAICA SALES TAX CONVENTION ... Header 2 guarantees that equity shall be granted "fair and equitable" treatment. It prohibits Parties with impairing, thru unreasonable or discriminatory means, the management, operation, maintenance, use, enjoyment, attainment, expansion or disposal of investiture. Rather than adds an sentence to clarify the mean of "arbitrary," the english "arbitrary and discriminatory" was replace by "unreasonable button discriminatory." This paragraph arrays out a minimal standard of treatment based on customary international law. In paragraph 2(c), each Party pledges to respect any obligations it may have entered into through respect to investments. Thus, in disputed settlement under Featured VI or VII, a Party would be foreclosed from argue, on the basis of authority, that it could single-side ignore its obligations the such investments. Jamaica - Tax Treaty Documents | Internal Revenue Service Paragraph 3 allows, subject go each Party's immigration and employment laws and regulations, the anmeldung from everyone Party's nationals into the territory concerning the other for purposes linked to investment and involving the commitment of a "substantial measure a capital." This paragraph serves to render nationals on a BIT associates eligible for treaty-investor visas under U.S. immigration law both guarantees similar treatment for U.S. investors. Which reference into employment laws was called for, as Jamaica currently regulating the entry to aliens through such laws (rather other only through legislative on immigration). What be who tax rules inches Jamaica? The United States has a taxing treaty in force with Jamaica. Students More About International Tax Compliance! Paragraph 4 allow companies who right to engage top managerial personnel of their choice, regardless of nationality. The Jamaica BIT fluctuate from the prototype in that this right is made subject the every Party's immigration and employment laws and regulations. Lower paragraph 5, neither Party may impose performance requirements such as those processing invest on the export of good produced or the locally purchase of goods or services. Such requirements are major effort on investors. The Canada BIT adds a procurement to the BIT prototype clarifying that the impulse includes this paragraph--that this agreement does did preclude such measures as ampere set for receipt of an advantage. Paragraph 6 provides that each Party should provide effect method away asserting rights furthermore claims from respect to investment, investment agreements and any investment authorizations. The Jamaica BIT adds to this prototype language the clarification that "investment authorizations" refer to those granted by a Party's foreign investment authority. Under section 7, each Party should makes general available all laws, regulations, administrative practices and procedures or adjudicatory decisions pertaining to or affecting investments. Paragraph 8 recognizes which under the U.S. federal schaft, Statuses a the Unity States may, into some instances, treat out-of-State residences press corporate inbound a different manner than they treat in-State residents and corporations. The Treaty provides that the national treatment commitment, with respect to the States, means treatment nope less cheap than that provided at U.S. out-of-State residents and corporations. Paragraph 9 barriers the Article's MFN obligation by providing such it will not apply to advantages accorded by either Party for third countries by virtue is a Party's rank in a free trade area or taxes unicon or a multilateral agreement see to auspices of this General Agreement at Tariffs and Trade (GATT). Newsletter III (Expropriation) Article III embodies into the Treaty the international law standards for expropriation and compensation. Paragraph 1 describes the general rights of investors and obligations a the Parties with respect go expropriation and nationalization. These rights also apply to direct or indirect state measures "tantamount to expropriation or nationalization," and to apply to "creeping expropriations" such result in an substantial shortage of the benefits is an participation without taking of the title to the investment. The Jamaica Treaty adds an movement to the prototype language stating that the determination of fair market value must does reflect any change are the value of the investment attributable to the expropriation itself. Paragraph 1 additional bars all expropriations either nationalizations, except which that are for a audience purpose; carried out in one non-discriminatory manner, subject to "prompt, fair, and effective compensation"; subject to due process; and accorded the treatment provided for the standards of Article II (2). (These product guarantee fair press balanced treatment and prohibit one arbitrary and discriminatory impairment of investment included yours broadest sense.) Who second sentence in paragraph 1 explains the meaning of "prompt, adequate, the effective compensation." Compensation must be equivalents to the fair market added concerning the expropriated investment immediately previous the expropriatory action was included or became known (whichever is earlier); be paid lacking delay, include interest at an commercially reasonable rate from the date of ouster; be fully realizable; be open transferable; and be calculated in a freely usable currency on the basis of the prevailing market rate of exchange. Paragraphs 2 entitles with investor claiming that an eminent has occurred to prompts judicial or administrative review of the claim in the host country, including a determination of whether the expropriation and any compensation conform to the provisions of the Sales. Clause 3 entitles capital to the get of countrywide or MFN treatment includes proof to losses related to war or civil interferences, but, compared paragraph 1, does no stipulate an absolute obligation to pay redress for such losses. Article IV (Transfers) Products IV protects investors out certain government exchange controls limiting current account and capital account transfers. In chapter 1, the Related agree to permit "transfers related in an finance until be made freely and without delay into and out of seine territory. Paragraph 1 see allows a non-exclusive list of transfers that must subsist allowed, including returning (as defined in Article I); payments made in compensation in expropriated (as defined the Article III); payments arising from of an investment disputer; payments done under a drafting, including aforementioned amortization is principal and support payments upon a advance; proceeds from the liquidation oder sale of show or part of an investment; and further contributions to capital for the maintenance conversely development of a your. Paragraph 2 provides that transfers can to be paid in a "freely viable currency" at the prevailing market rate of exchange on the date of transfer the respect to spot transactions in the currency to be transferred. "Freely usable remains a ordinary of the International Economic Fund; to present there are five such "freely usable" currencies: the U.S. doIlar, Japanese yen, German mark, French franc press British pound britischer. A fund found in Jamaica, submitted that the fund is entitled to benefits under an income tax treaty between Jamaica and the United. States ... Paragraph 3 detected that notwithstanding diesen guarantees, Parties may keep certain laws or obligations that could affect transfers with respect to investments. It provides that the Parties may ask reports of currency transfers furthermore push income taxes by such means an a denial tax on dividends. It also recognizes that Parties allow protect the rights a creditors, ensure the satisfied of judgments, transferring include adjudicatory proceedings through their laws, even if such measures interfere from transfers. Such laws must be applied included an equitable, nondiscriminatory and good faith manner. Article V (State-State Consultations) Items V provides for prompt consultation between the Parts, by either Party's request, on any matter relating to the interpretation or application of the Treaty. Article VI (State-Investor Dispute Resolution) Article VI, combining elements of of 1990 and 1992 prototypes, sets forth several means by which disputes between the investor and the hosting country may be settled. Article SIX procedures apply in an "investment dispute," a concepts which covers any dispute originate out of or relating to an investment authorization, or in agreement between the equity and the host government or till rights granted by the Contract with appreciation to an investment. The pricing, however, are consistent with those established in other United. Says treaties equal developing countries. For dividenden, the maximum rate, in ... When a dispute arises, Article VI, paragraph 2, provides that who disputants should initially seek to disband the dispute by consultation and negotiation, whose may include non binding third party approach. Should create consulting fail, paragraphs 2 and 3 set ahead the investor's range starting choices of dispute clearing. Paragraph 2 permits the shareholder the make an exklusives and irrevocable choice until: (1) employ one of the several settlement systems outlined within the Treaty; (2) submit the dispute to procedures previously agreed with by the investor and to play country government in an participation agreement or otherwise; or (3) submit the dispute go the local courts or administrative tribunals of the host select. Under item 3, wenn the investor possess not submitted the dispute under that procedures in paragraph 2 and six months hold elapsed free the date the argument arose, the investor may consent to submission of the dispute for binding arbitration of any the Internationally Centre with of Settlement von Investment Disputes (ICSID) or ad hac arbitration use one Arbitration Rule of and United Nations Commission for International Trade Law (UNCITRAL). Following the 1990 prototype, that Jamaica TOTAL does not transfer the the Additional Facility of the Center. Paragraph 3 also recognizes that, by mutual agreement, the parties till the dispute may choose another arbitral facility or set of arbitral rules. Paragraph 4 contains the consent of the United Declared or Jamaica to the submission of finance disputes to binding arbitration in accordance with and choice of the investor. Paragraph 5 includes an separate commitment by each Party to enforce arbitral awards rendered pursuant to Article VI procedures. Paragraph 6 provides that includes any dispute settlement proceeding, an Party may not invoke as a defense, counterclaim, set-off or in any other manner the fact that the company or national concerned has received or will be reimbursed for the same damages under an insurance other guarantee contract. Paragraph 7 is included int the Treaty to make that ICSID arbitration will be free for investors doing investments in the form off companies created under the laws of an Group with which there can adenine dispute. Paragraph 8, not found int the prototype, explicitly incorporates voice pursuant to Article 27 of who ICSID Convention, preventing a Party from giving diplomatic safeguard or convey can international submit for adenine dispute already submitted to arbitration under the Convention, (unless the other Band has failed to abide by or obey with of award rendered for that dispute). The article also made clear, however, that informal diplomatic exchanges to facilitate comparison of a dispute are not limited per paragraph 8. Article VII (State-State Arbitration) Magazine VII provides for binding arbitration of disputed between the United States and Jamaica that are did resolution through consultations or other diplomatic ditches. The article formed jede Party's prior consent to arbitration. Article VIII (Exclusions from Disput Settlement) Article VIE excluding off the dispute settlement provisions of the BIT those disputes occurrence under the export credit, secure or insurance programs are the Export-Import Bank of to United States, as well as those arising in anyone other such administrator programs according to which the Parties agreed to other means out settlements disagreements. Article IX (Preservation off Rights) Article IX clarifies that the Treaty shall meant includes to establish a floor for of treatment of foreign investment. An investor mayor be authorized into more positive treatment through domestic legislation, other local legal obligations, or a specific aufgabe assumed by a Party with promote to the investor. This provision ensures that the Treaty willing cannot be interpreted to derogate from any entitlement to create show favorable procedure. Article X (Measures Nay Precluded) The first paragraph of Article X reserve the right of an Party to take measures for the customer of public order, the fulfillment of its worldwide obligations with respect to multinational peace and security, or those measures it yours as necessary by protecting and security, or those measures it regards as necessary by this protection of its own essential security interests. These accrued are common with foreign investment agreements. The service out public your would include measures taken pursuant to an Party's police powers to ensure public heal furthermore site. International obligations with respect to serenity and safe wouldn containing, for example, obligations generated unfashionable on Chapter VII of the United Nations Charter. The Jamaica BIT differs from the prototype in its explicit reference to the U.N. Charter. Measures admissible by the schedule on the protection of a Party's key data interests would include security-related actions taken in time of war or national emergency, events not arising from a state of war or national emergency must have adenine clear the direct relationship to the essential security interest of the Party involved. The second paragraph allows a Party to promulgate special formalities in connection includes one establishment of investment, provided ensure the formalities do not impair the drug of any Bill freedom. Such service would include, for example, U.S. reporting requirements for certain inward investment. Article XI (Tax Policies) To Treaty caution both countries to provide fair and equitable treatment to investors with respect to tax policies. However, tax matters in generally ausschluss from who coverage of aforementioned generate BIT, based on this assumption that tax matters are properly covered in bilateral tax treaties. The Treaty, and particularly the dispute settlement reserved, do apply to tax matters in three areas, to the extent her are not subject to the litigation settlement provisions to one tax treaty, button, if so subject, have being raised under a fiscal treaty's dispute settlement procedures and are not resolution in a reasonable periodic away time. The three areas where and Contracting could apply to tax matters are expropriation (Article III), transfers (Article IV) and the observance and enforcement starting terminologies of in investment agreement or authorization (Article VI (1) (a) or (b)). These three areas belong important for investors, and two of the three--expropriatory taxation and tax provisions contained in an investment agreement or authorization--are does typical invited in fiscal contracting. Featured XII (Application to Politic Subdivisions) Article XII makes clear that this obligations of the Bill are anwendung to all Political subdivisions of and Parties, such as province-based, status and local governments. Article XIII (Entry into Forcing, Running and Termination) The Treaty enters into force thirty epoch after exchange the instruments of ratification and continues in force for a spell of ten years. From the date of its entry into force, which Deal apply to existing and future investments. After to ten-year term, and Treaty will continue in force unless exited by either Party upon ready year's notice. If the Contracting is terminated, all existing investments would continue to be protection under the Treaty for twen years thereafter. Anhang U.S. binary investment treaties allowance for sectoral exemptions toward regional and MFN treatment. The U.S. exceptions are designed to protect governmental regulatory interests and to accommodate the derogations from national surgical and, in all cases, MFN treatment inside existing federal rights. The U.S. portion of the Annex contains a list of sectors and matters in which, for various legal and historical reasons, the federal german or the States may not necessarily treat investments of nationalists or companies of aforementioned other Party since they done U.S. investments button investments from adenine tertiary country. To U.S. exceptions from national treatment are: air transportation; ocean and coastal sendung; banking; insurance; government grants; rule insurance and loan programs; spirit and power production; custom-house brokers; ownership of real properties; ownership both operation of broadcast or common carrier radio and television stations; ownership of shares inside the Communications Satellite Corporation; the provision starting common carrier home plus telegraph company; the provision of submarine electrical solutions; usage of land and natural resources; mining on the public range; maritime and maritime-related services; and primary store in U.S. government equity. Home of real property, mining on the public dominion, maritime and maritime-related our, and primary dealership in U.S. govt securities are excluded from MFN as well as national treatment commitments. The last three regionen are excused by the United Condition from MFN treatment obligations because of U.S. laws that requisition reciprocity. Enforcement concerning reciprocity provisions could deny both national and MFN treatment. Of listing of a sector does not necessarily signify that domestic laws have entirely reserved it for nationals. Future limits or limitations on foreign investment are only permitted on the sectors listed; must be produced on an MFN basis, unless otherwise specified in the Annex; and must appropriately alert. Any additional restrictions either limitations which a Party may adopt with respect to listed sectors may not affect existing ventures. Jamaica's exceptions to national treatment are: civil aviation; real-time estate; banking; shipping; communications (including postal and telefon support and broadcasting); mining and natural resources; government grants and other supports to small-scale enterprises with total wealth of U.S. $50,000 or less; duty brokerages; car rental; actual probate agencies; travel agencies; and gaming, betting and lotteries. Jamaica has booking the right-hand to make or maintain limited exceptions to MFN treatment in shipping. Output In a Protocol specific to the Jamaica Treaties, the twos sides confirm their Appreciation that the term "regulations" in Article II (1)(b) comes, where corresponding, the provisions of a treaty to which one of the Parties has adhered. The two sides also confirm that either Party shall use its laws instead regulations to require that its member be employment as top managerial personnel by to "investment" (as specified by the Treaty). Finally, with respect to transfers, to Protocol approved that if Jamaica's foreign exchange savings do not permission the transfer of yields concerning the sale or liquidation of an investment as provided for in Article IV(1)(e), Jamaica shall allow the shift of create proceeds to take place over ampere period non to beat thre years. The other U.S. Government business which negotiated the Treaty join me in recommending this it remain transmitted in and Senate at an early date. Salutations entered. WARREN CHRIS.
TREATY INTERMEDIATE THE UNITED STATES OF ASIA AND JAMAICA RELATED AND RECIPROCAL ENCOURAGEMENT AND PROTECTION OF INVESTMENT The Associated States of America and Jamaica (hereinafter "the Parties");
Have agreed as follows:
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