GENERAL AGREEMENT N TRADE IN SERVICES TUNISIA Schedule of Specific Commitments

Transcription

1 GENERAL AGREEMENT ON TRADE IN SERVICES ( ) GATS/SC/87 15 April 1994 TUNISIA Schedule of Specific Commitments (This is authentic in French only)

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3 TUNISIA - SCHEDULE OF SPECIFIC COMMITMENTS I. HORIZONTAL COMMITMENTS Foreign Investment Movement of personnel Exercise of commercial activities 3)Investments in services other than financial services are not limited, except in the following cases: enterprises that are wholly export-oriented may recruit four managerial and supervisory staff of foreign nationality, pursuant to the relevant Tunisian legislation 3),4) Natural or legal persons who do not possess Tunisian nationality may engage directly or indirectly in a commercial activity only under the conditions established by the relevant Tunisian legislation (Decree Law No of 30 August 1961 and texts governing the various commercial activities) The requirements for obtaining a trader's licence are as follows: -All foreigners must submit a file consisting, in particular, of an information sheet and documents testifying to the qualifications of the person concerned 3)With respect to services activities that are not wholly export-oriented, the Investment Commission approves any participation exceeding 50 per cent of the equity of the company 4)Compliance with conditions for entry and stay of foreigners: -Any foreign natural person wishing to engage in a salaried activity of any kind must have a contract of employment endorsed by the competent authorities 3),4) Foreign natural or legal persons wishing to engage in a trading activity in Tunisia must be in possession of a trader's licence Legal persons possess Tunisian nationality when they fulfil the following four conditions: a)are established in accordance with the laws in force and have their registered place of business in Tunisia b)at least 50 per cent of their share capital must consist of registered securities held by Tunisian natural or legal persons GATS/SC/87 Page 1

4 7 TUNISIA (continued) GATS/SC/8 -In the case of companies, a copy of the memorandum and articles of association is required The criteria for issuing a trader's licence are as follows: Licences are issued: c)a majority of their board of directors or management or supervisory board must be natural or legal persons of Tunisian nationality d)their chairman, managing director or management must be natural persons of Tunisian nationality -To foreigners whose spouse possesses Tunisian nationality -When the person of foreign nationality is a native resident in Tunisia for several years -When the proposed activities will generate technology transfer and jobs and/or may help to promote exports in the services sector In the case of public limited companies and where the functions of chairman of the board of directors and those of the managing director are separated, the managing director must have resident's status within the meaning of the exchange regulations Exchange control 1)2)Under Article 1 of Law No of 21 January 1976 as amended by Law Natural or legal persons who do not possess Tunisian nationality may not engage in the following activities, in any form whatsoever, unless otherwise permitted by the competent authority: buildings manager, commission agent, broker, commercial agent, consignee, general representative, sales representative, commercial traveller, commercial representative Unbound

5 TUNISIA (continued) No of 3 May 1993, there are no restrictions on transfers relating to foreign payments made in connection with: -Current transactions undertaken in conformity with the legislation governing such transactions -The real net proceeds of the transfer or disposal of capital invested by means of the importation of foreign currency, even if these proceeds are greater than the capital initially invested, in the case of investments made within the context of the relevant legislation -Any exportation of capital and any transaction or commitment that gives or may give rise to a transfer, relating to transactions other than those mentioned in the first paragraph of this article, as well as any foreign debt offsetting, are subject to the general authorization of the Minister of Finance given after consultation with the Central Bank of Tunisia This article does not apply to non-resident enterprises which are free to carry out any capital transaction with or in a foreign country. For resident enterprises authorization consists: GATS/SC/87 Page 3

6 7 TUNISIA (continued) GATS/SC/8 -With respect to loans: in the examination of the financial terms of the loan -With respect to foreign investment, a company with export business may be authorized to invest abroad in so far as the investment is necessary to its export activities from Tunisia -As regards security transactions, Decree of 27 July 1977 (stocks and shares), authorization is granted after verification of the financial terms and the regularity of the transaction In this case, there are no restrictions on the transfer of the proceeds of the disposal of investments financed in foreign currency Investment in the form of a contribution in kind is subject to authorization which is granted after an expert appraisal to determine the nature of the contribution and its value Deposits: non-residents may freely open foreign currency accounts. As the Dinar is not a convertible currency, non-residents may not open deposit accounts in that currency Acquisition of land 3),4)None, except for agricultural land, which cannot be the object of appropriation by the 3),4)The acquisition by foreign investors of land or other real estate for the purpose of developing

7 TUNISIA (continued) II.SECTOR-SPECIFIC COMMITMENTS 7.FINANCIAL SERVICES A)All insurance and insurance related services foreigners. Nevertheless, foreigners may opt to use agricultural land within the long-term leasing system for up to 40 years renewable industrial/tourist projects and other services is subject to administrative authorization. Authorization is granted after the request has been examined to ensure that it conforms with the use (tourism, agriculture, industry) reserved for the land in the national development plan Direct insurance (CPC ) 1)Risks situated in Tunisia and persons domiciled there may be insured only under contracts concluded with resident insurance enterprises (Insurance Code, Article 44) The air, sea and land transport of goods for import must be insured in Tunisia, for natural and legal persons resident abroad 3)a)Commercial presence of foreign supplier in the form of a subsidiary company: -set up in accordance with Tunisian law; -as a public limited company or mutual society; -minimum capital requirements 3)Unbound GATS/SC/87 Page 5

8 7 TUNISIA (continued) GATS/SC/8 b)commercial presence of the foreign supplier in the form of a branch office: -work with non-residents Unbound, expect as indicated in the horizontal section C.Reinsurance and retrocession services (CPC 81299) 1)Prior approval of reinsurers wishing to accept reinsurance operations from the Tunisian market (Insurance Code, Article 68) Appointment of a representative accepted by the Minister of Finance (Insurance Code, Article 68) 3)-Approval prior to acceptance of reinsurance operations -Appointment of a responsible officer accepted by the Minister of Finance, except as indicated in the horizontal 3)Unbound

9 TUNISIA (continued) section Insurance intermediation a)insurance agents for life insurance (CPC 81401) b)insurance broking Other auxiliary services Claim assessment (CPC 81403) 1)Tunisian nationality required (Insurance Code, Article 73) 3)Tunisian nationality required (Insurance Code, Article 73). Approval of the Minister of Finance, except as indicated in the horizontal section 1)None, except for horizontal limitations 3)Tunisian nationality required. Approval of the Minister of Finance, except as indicated in the horizontal section 1)Tunisian nationality required (Decree No of 31 December 1992) 3)Tunisian nationality required (Decree No of 31 December 1992) 3)Unbound 3)Unbound 3)Unbound GATS/SC/87 Page 7

10 7 TUNISIA (continued) GATS/SC/8 Financial services other than insurance (CPC 811), except as indicated in the horizontal section 1),2) None 3)"Resident" bank (Law No of 7 December 1967): -Approval of the Ministry of Finance -Limited company under Tunisian law or any other legal status accepted in the authorization -Minimum capital requirements. 1),2) Unbound "Non-resident" bank (Law No of 6 December 1985): -Foreign banks, branches or agencies of foreign banks whose registered place of business is abroad; -Public limited company under Tunisian law; -Approval of the Ministry of Finance Financial leasing companies: -Approval of the Ministry of Finance; Unbound

11 TUNISIA (continued) -Resident public limited companies under Tunisian law; -Financial leasing companies may be set up under Law No of 6 December 1985 for the promotion of banking and finance institutions working essentially with nonresidents. None Unbound Investment companies: -Authorization of the Ministry of Finance; -Resident public limited companies under Tunisian law established under one of the following two categories: None a)closed-ended investment company with a minimum capital requirement; b)open-ended investment company with a minimum capital requirement: Investment companies may be set up under Law No of 6 December 1985 for the promotion of banking and finance institutions working essentially with non-residents. Stock-market intermediaries Unbound Unbound GATS/SC/87 Page 9

12 7 TUNISIA (continued) GATS/SC/8 -Must be approved by the Stock Exchange Board and be Tunisian natural or legal persons or Tunisian banks, except for the foreign supervisory staff of non-resident financial institutions: none 4)For resident financial institutions, the chairman and managing director of a bank established under Tunisian law must be of Tunisian nationality; if the function of chairman of the board of directors and that of managing director are separated, one of these positions must be filled by a Tunisian national Inter-bank (wholesale deposit services) (CPC 81115), for subsidiaries and branches of Tunisian banks established abroad and for Tunisian The chairman and managing director or the managing director of a bank established under Tunisian law must have resident's status within the meaning of the exchange regulations. The manager of the Tunisian establishments of a foreign bank must have resident's status in Tunisia within the meaning of the exchange regulations. However, special exemptions may be granted by the Central Bank. No one may simultaneously manage, run or have authority to commit two banks, a bank and a financial institution, or a bank and an insurance company.

13 TUNISIA (continued) natural persons residing abroad However, residents are subject to authorization, but non-resident institutions established in Tunisia are authorized to receive funds from residents. Such funds must not exceed: for resident institutions -for each non-resident institution established in Tunisia, the subscribed amount of its participation, out of its own foreigncurrency shareholders' equity, in the capital of resident enterprises -for all non-resident institutions established in Tunisia as a whole, the ceiling of 1.5 per cent of the deposits of deposit banks Other bank deposit services (CPC 81116), however residents are subject to authorization, but non-resident institutions established in Tunisia are authorized to receive funds from residents. Such funds must not exceed: for resident institutions GATS/SC/87 Page 11

14 7 TUNISIA (continued) GATS/SC/8 -for each non-resident institution established in Tunisia, the subscribed amount of its participation, from its own foreigncurrency shareholders' equity, in the capital of resident enterprises -for all non-resident institutions established in Tunisia as a whole, the ceiling of 1.5 per cent of the deposits of deposit banks Mortgage loan services (CPC 81131) Personnel instalment loan services (CPC 81132) and credit card services (CPC 81133), but non-resident institutions established in Tunisia are subject to authorization 1)None, solely for non-resident financial institutions established in Tunisia with a ceiling of 10MDT/year for other enterprises and subject to authorization for private individuals for resident institutions 1)None 1)None

15 TUNISIA (continued) Unit trust services (CPC 81191) 1)None Property unit trust services (CPC 81192) Intermediation services (CPC 81199) Securing broking services 3)Unbound, but stock market intermediaries must be natural or legal persons of Tunisian nationality or Tunisian banks 1)None 1)None 1)None GATS/SC/87 Page 13

16 7 TUNISIA (continued) GATS/SC/8 (CPC 81321) Portfolio management services (CPC 81323) Loan broking services (CPC 81331), but stock market intermediaries must be natural or legal persons of Tunisian nationality or Tunisian banks, but stock market intermediaries must be natural or legal persons of Tunisian nationality or Tunisian banks 1)None 1)None 3)Unbound 1)None Financial consultancy services (excluding exchange 1)None 1)None *Unbound for technical reasons.

17 TUNISIA (continued) offices) (CPC 81332) 4)None 4)None 9.TOURISM AND TRAVEL RELATED SERVICES A.Hotel and restaurant services Hotels (CPC 6411) *, except as indicated in the horizontal section *, except as indicated in the horizontal section Restaurants (excluding unclassified restaurants) (CPC 6421) *, except as indicated in the horizontal *, except as indicated in the horizontal *Unbound for technical reasons. GATS/SC/87 Page 15

18 7 TUNISIA (continued) GATS/SC/8 section section B.Travel agencies and tour operators services Travel agencies (CPC 7471) 3)Unbound 3)Unbound