Austrian Parliament Adopts New FDI Screening Act

On 15 July 2020 the Austrian Parliament adopted a new FDI screening act (Investitionskontrollgesetz, "ICA"), following the trend to tighten the regulatory framework for foreign investment screening (read more here: Austrian government proposes new FDI screening act). The ICA will enter into force after publication in the Federal Law Gazette. It largely transposes the requirements under the EU FDI Screening Regulation (read more here: A new regulation on FDI screening in Europe).

Under the ICA a (mandatory) filing requirement is triggered if:

• a foreign investor, i.e. non-EU, non-EEA, non-Swiss individual/entity, intends to carry out an investment (directly/indirectly) in an Austrian undertaking. This includes
  • the acquisition of shares reaching/exceeding 10 %, 25 % and 50 % (voting rights);