The 1986 law allowed foreign companies to enter joint-venture partnerships with the state hydrocarbon company Sonatrach, and remain in a minority position. It also allws foreign participation in natural gas exploration, and provides extra tax incentives to stimulate hydrocarbon exploration. For investments made in hard currency, the new Investment Code authorizes the investor to repatriate, within 60 days of a request for capital repatriation, all capital, revenues, as well as the net proceeds of the tranfer, even if the latter are higher than the original amount invested. The Algerian Code of Civil Procedure allows both private and public sector companies in Algeria to seek international arbitration. Algeria also allows local contracts to contain international arbitration clauses.
Foreign investors have full recourse to international arbitration under Algerian law.
As part of Algeria's efforts to develop an attractive investment promotion regime, foreign investors in Algeria are not subject to any performance requirements or incentives. The December 7 law reaffirms Algeria's ratification in 1975 of the Paris Convention and its subsequent revisions. Patents are granted for 20 years from the date the patent request filed and are available for all area of technology. Algeria ratified in 1973 the 1952 Convention on Copyrights. The law also considers in the author the right to control the commercial exploitation or marketing of the above products.