Article 3. Definitions

1. Foreign Investment means every kind of tangible and intellectual propertv rights that are invested in Mongolia by a foreign investor for the purpose of establishing a wholly foreign owned subsidiary, or an entity owned  jointly with a Mongolian investor, or for carrying out joint business activities pursuant to an investment contract in Mongolia.

2. "Foreign investor" means a foreign legal person or individual (a foreign national or stateless person not residing permanently in Mongolia and a citizen of Mongolia having permanent residence abroad) that is investing in Mongolia.

3. "Mongolian investor" means a Mongolian legal person or individual (a citizen of Mongolia and foreign national or stateless person residing permanently in Mongolia) that is making an investment with a foreign investor.

4. "Investment contract” means  concession, production sharing, licensing, marketing and management agreements and other international commercial contracts made by and between investors with a view to carrying out joint business profit making activities without creating an independent legal entity and for the purpose of implementing  a particular project in Mongolia.