I talked about problem with Model Treaty on which India US BIT depends on.
Model BIT (besides being time consuming) has another HUGE problem. It does not have visa provisions!!! Who in right mind would be ready to invest and not be able to manage and administer investment?
Nobody is focusing on this aspect. All the big talks focus on getting BIT signed. But signing a flawed BIT (without visa provisions) does not make sense from practical perspective.
Ironically, the language for such provision does not even mention word visa! All it talks about is “to allow to enter and to remain” ! Last BIT was with Mozambique which had visa provisions. See the language taken from this earlier BIT.
1. (a) Subject to its laws relating to the entry and sojourn of aliens, each Party shall permit to enter and to remain in its territory nationals of the other Party for the purpose of establishing, developing, administering or advising on the operation of an investment to which they, or a company of the other Party that employs them, have committed or are in the process of committing a substantial amount of capital or other resources.
(b) Neither Party shall, in granting entry under paragraph I (a), require a labor certification test or other procedures of similar effect, or apply any numerical restriction.
2. Each Party shall permit covered investment under this treaty to engage top managerial personnel of their choice, regardless of nationality.
Here is request: if any of reader can suggest word in lieu of visa I should use that word from now on. As ‘visa’ is connected with negative connotation in present circumstances!
Now the question arises on how to make sure that Model BIT is changed to include above language??? I will write about it soon.