Revisiting different definitions of ‘investor’ in international investment agreements: the issue of permanent residents, Stateless persons and dual nationals

This article discusses the differences in the definition of ‘investor’ in international investment agreements. In particular, it investigates the provisions that depart from a widely used ‘simple’ definition of investor in such agreements as a national of one of the Contracting Parties. The deviations take several forms, expanding or limiting the scope of protection of the agreements. They encompass the inclusion of permanent residents and Stateless persons as an alternative to nationals; permanent residency as an additional requirement to the possession of nationality; and the treatment of dual nationals. The inclusion of these novel definitions reflects the specific political, social and legal preconditions that exist in the countries that adopted them. This article further contemplates whether these provisions can, and should, be included in agreements negotiated by other States.