35It is settled case-law that capital movements within the meaning of Article 56 EC include investments in property on the territory of a Member State by nonresidents (see Case C-222/97 Trummer and Mayer [1999] ECR I-1661, paragraph 21, Case C-464/98 Stefan [2001] ECR I-173, paragraph 5, and Joined Cases C-515/99, C-519/99 to C-524/99 and C-526/99 to C-540/99 Reisch and Others [2002] ECR I-2157, paragraph 30).
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