Abstract
The Caspian region has a great economic potential and there are a lot of prospects for its future development. Caspian states have not formalized any special regional economic integration projects; however, they actively cooperate in implementing different large-scale projects. The article provides the detailed analysis of the main forms of foreign investments in the Caspian region and the peculiarities of their legal regime. The legal basis for the development of investments in the region was established by the system of bilateral treaties concluded between the respective states on avoidance of double taxation and on mutual protection of investments. The legal basis provides for different legal forms for cross-border investments in the Caspian region: 1) preparatory activity without creation of permanent establishment; 2) activity through permanent establishment; 3) activity through subsidiary company; 4) special forms of activities in special economic zones. Additionally, specialized tax rules for investments may be provided for the certain types of business activities: cross-border transportation, the use of complex infrastructure objects (pipelines, electricity lines, etc.).
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