Business peciliarities in Ukraine and Bealrus
Domestic legal safeguards available to foreign investors include:
"grandfather clause" against adverse changes in the basic legal treatment of investments
(as set out in the law of Ukraine "On Foreign Investment Treatment");
prohibition of nationalization;
prohibition of expropriation not justified by evacuation / rescue measures taken in
connection with disasters, accidents or epidemics, as well as judicial redress against a
decision to expropriate the investment;
expedient, adequate, and effective compensation for damages (including lost profits and
non-pecuniary damages) incurred as a result of actions or omissions of the state
authorities and their officials, as well as compensation for the value of the expropriated
investment;
time limitation (6 months) for return of the investment (including profits gained), etc.
In practice, though, it might be difficult to challenge actions or omission committed by the