University of Tehran Public Law Studies Quarterly 2423-8120 53 4 2023 12 22 Denial of Benefits Clause and its Role in Limiting Nationality Planning in Investment Arbitration Caselaw Denial of Benefits Clause and its Role in Limiting Nationality Planning in Investment Arbitration Caselaw 1741 1762 90893 10.22059/jplsq.2021.318546.2698 FA Pouria Askary Associate Prof., Department of Public and International Law, Faculty of Law and Political Science, Allameh Tabataba’i University, Tehran, Iran 0000-0002-7054-3049 Niloofar Saeedi Ph.D. Student in Public International Law, Faculty of Law and Political Science, Allameh Tabataba’i University, Tehran, Iran Journal Article 2021 02 05 The large number of investment treaties and the diversity in their content, have made foreign investors to search for a favorable treaty and benefit from the protection of such a treaty by changing the nationality strategy. Large numbers of investment treaties and variety in their content have encouraged many investors to search for a desirable treaty and access such treaty with strategic change of nationality. This process, called known as nationality planning, increases investors protection under the treaty and the possibility of disputes against the host state. Including Denial of Benefits clause is one of the solutions of states for limiting third state or host state investors’ strategic access to treaty. This clause can potentially deprive third state investors from the treaty. Although, using this clause depends on various procedural and substantive requirements. Therefore, it is Because of that it is important to assess, by analyzing investment treaties and arbitration judgements, how arbitrations interpret procedural and substantive requirements of DOB and the impact of this interpretation on limiting Nationality Planning by analyzing investment treaties and arbitration judgements? Treaties and judgments analysis indicates that formulation of DOB causes doesn’t include different forms of nationality planning and also, arbitration interpretations of this clause, usually, makes it difficult for host states to apply it successfully. The large number of investment treaties and the diversity in their content, have made foreign investors to search for a favorable treaty and benefit from the protection of such a treaty by changing the nationality strategy. Large numbers of investment treaties and variety in their content have encouraged many investors to search for a desirable treaty and access such treaty with strategic change of nationality. This process, called known as nationality planning, increases investors protection under the treaty and the possibility of disputes against the host state. Including Denial of Benefits clause is one of the solutions of states for limiting third state or host state investors’ strategic access to treaty. This clause can potentially deprive third state investors from the treaty. Although, using this clause depends on various procedural and substantive requirements. Therefore, it is Because of that it is important to assess, by analyzing investment treaties and arbitration judgements, how arbitrations interpret procedural and substantive requirements of DOB and the impact of this interpretation on limiting Nationality Planning by analyzing investment treaties and arbitration judgements? Treaties and judgments analysis indicates that formulation of DOB causes doesn’t include different forms of nationality planning and also, arbitration interpretations of this clause, usually, makes it difficult for host states to apply it successfully. https://jplsq.ut.ac.ir/article_90893_f90980a6f5ce6addb790d23a7fe5d1a6.pdf