Impact of Dual Nationality of Individuals and Nationality of Iranian Companies as a Foreign Investor on ICSID Jurisdiction

In Iran’s foreign investment law the term of “foreign investor” included real and judicial persons such as Iranian companies controlled by foreign shareholders. On the other hand, possibility of claim against Iran by “foreign investors” in international forum including ICSID, in case of Iran accession to Washington convention, has been recognized. It raises the question of impact of dual nationality of individuals and nationality of Iranian companies as a foreign investor on ICSID jurisdiction. This paper seeks to find the answer to the question by analyzing awards issued by ICSID. The analysis shows that jurisdiction of ICSID cannot be established mere reliance on the dual nationality by respondent and foreign control by claimant. Instead the process of establishment of the jurisdiction is subject to subtle legal considerations.