Foreign investment in air transportation companies cannot exceed 49% of the charter capital, its head must be a citizen of the Republic of Tajikistan and the number of foreign citizens in the board of directors shall not exceed one third of the membership governing body.
"CHAPTER 9. AIRCRAFT ENTERPRISES
Section 54. Aviation Enterprise and Exploiter
For the purposes of this Code, an aviation enterprise is understood to be a legal entity, regardless of the legal form of ownership and ownership, having the main objectives of its activity as the implementation of air transportation of passengers, baggage, cargo, mail and (or) the performance of aviation work.
The creation of an aviation enterprise with the participation of foreign capital on the territory of the Republic of Tajikistan is allowed under the conditions if the share of foreign capital does not exceed forty-nine percent of the charter capital of the aviation enterprise, its head is a citizen of the Republic of Tajikistan and the number of foreign citizens in the governing body of the aviation enterprise does not exceed one third of the membership governing body. [...]" (Air Code of the Republic of Tajikistan dated November 13, 1998, No. 720 [google translated])
Air Code of the Republic of Tajikistan dated November 13, 1998, No. 720 [google translated]
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