Government sets up National Office for FDI Screening

All interested practitioners are hereby being informed that the National Foreign Direct Investment Screening Office (hereinafter ‘the Office’) has been set up in order to implement the provisions of Regulation (EU) 2019/452 establishing a framework for the screening of foreign direct investments into the Union.

The scope and remit of the Office shall be to screen new FDI projects, joint ventures with a foreign component and the transfer of any shares and/or controlling interests in existing companies where the owner, titleholder or ultimate beneficial owner originates from third countries (that is, any country which is not a member of the European Union).

The purpose of the screening process is to protect European Union intelligence, knowledge and technology as well as the security interests of the Union.

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