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Adopted text

Screening of foreign investments in the Union

TA-10-2025-0102 · P10_TA(2025)0102 · PE767.951

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Parliament's amended version of the proposed regulation on screening foreign investments sets up a Union framework for member states to screen foreign investments on security or public order grounds, including economic security, and strengthens the cooperation mechanism. It requires all member states to have screening mechanisms, harmonises key elements, and extends screening to greenfield investments above EUR 250 million in sensitive sectors or with risky investors. It empowers the Commission to investigate and, in cases of disagreement, adopt decisions to authorise with conditions or prohibit investments that pose risks to security or public order. It sets deadlines for procedures, establishes a secure encrypted system and a single portal for filings, and requires transparency through guidelines and annual reports.

Key points

  1. All member states must establish screening mechanisms for foreign investments on security or public order grounds, with harmonised core elements including scope, procedure, and cooperation.
  2. Screening must apply to investments in projects or programmes of Union interest and to greenfield investments meeting certain conditions, including a transaction value of at least EUR 250 million.
  3. Member states must notify the Commission and other member states of investments meeting risk-based conditions, including government control, restrictive measures, prior non-authorisation, or opaque ownership.
  4. The Commission may issue opinions and, after an objection procedure, adopt decisions to authorise with conditions or prohibit investments that inadequately address security or public order risks.
  5. Screening authorities must have powers to impose penalties for non-compliance, address circumvention, and receive information from civil society and social partners.
  6. The Commission establishes a secure encrypted system and a single portal for electronic filing, with all communications transmitted exclusively through that system.
  7. The Commission develops a business intelligence capability and a Union FDI capacity-building programme to support member states' screening authorities.
  8. When assessing risks, member states and the Commission must consider impacts on critical infrastructure, military facilities, internal market, critical technologies, supply chains, food security, and other factors.
  9. Investor-related criteria include government control, prior involvement in non-authorised investments, illegal activities, pursuit of third-country policy objectives, and establishment in high-risk jurisdictions.
  10. Screening decisions must be proportionate, based on documented risks, and may include mitigating measures such as governance changes, supply commitments, or data storage in the Union.
  11. The Commission must publish guidelines on key concepts and maintain a public list of screening mechanisms, and member states must publish guidance on procedures.
  12. The regulation applies 12 months after entry into force, repealing Regulation (EU) 2019/452, and the Commission evaluates it after 3 years and every 5 years thereafter.

Who is affected

  • Foreign investors and their subsidiaries in the Union must comply with authorisation requirements and screening procedures in member states.
  • Member states must establish and operate screening mechanisms, notify investments, and cooperate with the Commission and other member states.
  • Union targets in sensitive sectors, including critical infrastructure, technologies, and projects of Union interest, may be subject to screening.
  • Undertakings concerned by screening decisions may seek judicial recourse and have the right to make their views known before decisions.

Figures and deadlines

  • EUR 250 million threshold for mandatory screening of greenfield investments.
  • 15 months after completion for own-initiative screening or cooperation procedures.
  • 35 calendar days for initial review of authorisation requests.
  • 5 working days for formal acknowledgment of complete filing.
  • 12 months from entry into force for application of the regulation.
  • 3 years after application for first evaluation, then every 5 years.
  • 10,000 hectares of farmland for farming to be considered critical.