Abstract: The essence of global economy relies basically on direct foreign investment. Globalization has been witnessing an increasing flow of direct foreign investment, and, consequently, the development of legal mechanisms aiming to make such investments less risky, namely through Bilateral Investment Agreements (BITs). Foreign investment may also give rise to agreements between the investor itself and entities of the State that will be receiving the investment, such as concession contracts. The co-existence of two different legal relationship, one in the BIT and the other in an eventual contract signed with and state entity, could, however, result in complicated jurisdictional problems within an arbitration proceeding, such the confusion between contractual claims and the ones arising out of a BIT, parallel proceedings, the definition of the investment concept, the existence of an arbitration clause or the limits for damages. An investor shall thus need to define a precise and clear strategy before starting any action or choosing any jurisdiction in order to avoid such obstacles.