Home > 108th Congressional Documents > T.Doc.108-9 PROTOCOL AMENDING TAX CONVENTION WITH SRI LANKA ...

T.Doc.108-9 PROTOCOL AMENDING TAX CONVENTION WITH SRI LANKA ...


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108th Congress                                              Treaty Doc.
                                 SENATE                     
 1st Session                                                      108-8
_______________________________________________________________________

                                     

 
PROTOCOL TO TREATY OF FRIENDSHIP, COMMERCE, AND NAVIGATION WITH DENMARK

                               __________

                                MESSAGE

                                  from

                   THE PRESIDENT OF THE UNITED STATES

                              TRANSMITTING

PROTOCOL TO THE TREATY OF FRIENDSHIP, COMMERCE, AND NAVIGATION BETWEEN 
THE UNITED STATES AND DENMARK OF OCTOBER 1, 1951, SIGNED AT COPENHAGEN 
                             ON MAY 2, 2001

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September 2, 2003.--The Protocol was read the first time, and together 
  with the accompanying papers, referred to the Committee on Foreign 
     Relations and ordered to be printed for the use of the Senate
                         LETTER OF TRANSMITTAL

                              ----------                              

                                The White House, September 2, 2003.
To the Senate of the United States:
    With a view to receiving the advice and consent of the 
Senate to ratification, I transmit herewith the Protocol to the 
Treaty of Friendship, Commerce, and Navigation Between the 
United States and Denmark of October 1, 1951, signed at 
Copenhagen on May 2, 2001. I transmit also, for the information 
of the Senate, the report of the Department of State with 
respect to this protocol.
    The protocol will establish the legal basis by which the 
United States may issue treaty-investor (E-2) visas to 
qualified nationals of Denmark, by supplementing the U.S.-
Denmark friendship, commerce, and navigation (FCN) treaty to 
allow for entry and sojourn of investors, a benefit provided in 
the large majority of U.S. FCN treaties. United States 
investors are already eligible for Danish visas that offer 
comparable benefits to those that would be accorded nationals 
of Denmark under E-2 visa status.
    The United States has long championed the benefits of an 
open investment climate, both at home and abroad. It is the 
policy of the United States to welcome market-driven foreign 
investment and to permit capital to flow freely to seek its 
highest return. Denmark also provides an open investment 
climate. Visas for investors facilitate investment activity, 
and thus directly support U.S. policy objectives.
    I recommend that the Senate consider this protocol as soon 
as possible, and give its advice and consent to ratification of 
the protocol at an early date.

                                                    George W. Bush.
                          LETTER OF SUBMITTAL

                              ----------                              

                                       Department of State,
                                                     July 18, 2003.
The President,
The White House.
    The President: I have the honor to submit to you the 
Protocol to the Treaty of Friendship, Commerce, and Navigation 
Between the United States and Denmark of October 1, 1951, 
signed at Copenhagen on May 2, 2001. I recommend that this 
protocol be transmitted to the Senate for its advice and 
consent to ratification.
    The protocol will establish the legal basis by which the 
United States may issue treaty-investor (E-2) visas to 
qualified nationals of Denmark by supplementing the U.S.-
Denmark friendship, commerce, and navigation (FCN) treaty to 
allow for entry and sojourn of investors, a benefit provided in 
the large majority of U.S. FCN treaties. United States 
investors are already eligible for Danish visas that offer 
comparable benefits to those that would be accorded nationals 
of Denmark under E-2 visa status.
    The United States has long championed the benefits of an 
open investment climate, both at home and abroad. It is the 
policy of the United States to welcome market-driven foreign 
investment and to permit capital to flow freely to seek its 
highest return. Denmark also provides an open investment 
climate. Visas for investors facilitate investment activity, 
and thus directly support U.S. policy objectives.
    Danish direct investment in the United States totaled over 
$5.9 billion at year-end 2000 (on a historical costs basis). 
The U.S. direct investment in Denmark amounted to about $5.6 
billion (on a historical costs basis) and U.S. investment 
accounts for one-third of Denmark's total direct investment.


                       the u.s.-denmark protocol


    The protocol is a precondition to the issuance of a treaty-
investor visa to a Danish national, inasmuch as section 
101(a)(15)(E)(ii) of the Immigration and Nationality Act (INA), 
8 U.S.C. Sec. 1101(a)(15)(E)(ii), permits issuance of an E-2 
visa only to a nonimmigrant who is

        . . . entitled to enter the United States under and in 
        pursuance of the provisions of a treaty of commerce and 
        navigation between the United States and the foreign 
        state of which he is a national . . . solely to develop 
        and direct the operation of an enterprise in which he 
        has invested, or of an enterprise in which he is 
        actively in the process of investing, a substantial 
        amount of capital.

    Although most U.S. FCN treaties contain a provision 
qualifying the treaty partner's nationals for E-2 visas, the 
U.S.-Denmark FCN does not. The protocol is intended to overcome 
this deficiency.
    The treaty protocol reflects language found in the INA, the 
other U.S. FCNs and investment treaties generally. The 
principal substantive article of the protocol provides that

        [n]ationals of either Contracting Party shall be 
        permitted, subject to the laws relating to the entry 
        and sojourn of aliens, to enter the territories of the 
        other Party and to remain therein for the purpose of 
        developing and directing the operations of an 
        enterprise in which they have invested, or in which 
        they are actively in the process of investing, a 
        substantial amount of capital.

    I support this protocol, and I favor its transmission to 
the Senate at an early date.
    Respectfully submitted,
                                                   Colin L. Powell.
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