Judgment_paragraph 36 · UBS Real Estate Kapitalanlagegesellschaft mbH v Agenzia delle Entrate (C-478/19)

36It should be noted that, according to settled case-law, the measures prohibited by Article 56(1) EC (now, after amendment, Article 63(1) TFEU), as restrictions on the movement of capital, include those that are such as to discourage non-residents from making investments in a Member State or to discourage that Member State’s residents from doing so in other States (see, in particular, judgments of 2 June 2016, Pensioenfonds Metaal en Techniek, C‑252/14, EU:C:2016:402, paragraph 27 and the case-law cited, and of 30 January 2020, Köln-Aktienfonds Deka, C‑156/17, EU:C:2020:51, paragraph 49 and the case-law cited).

UBS Real Estate Kapitalanlagegesellschaft mbH v Agenzia delle Entrate (C-478/19)

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