EU FDI Framework Regulation (EU) 2019/452 (the "Regulation")

The Regulation, which was adopted by the EU during 2019, creates a system to cooperate and exchange information on investments from non-EU countries that may affect security or public order so as to make sure that the EU is better equipped to protect its interests, while remaining among the world's most open investment areas.

The Regulation, which covers a broad category of foreign investments affecting "security or public order" will apply broadly from 11 October 2020. EU Member States are not obliged to screen FDI, but as a result of the Regulation, Member State and European Commission cooperation and information sharing on FDI will increase.

Irish businesses and foreign investors in Ireland may have to provide the Irish government with information on proposed or completed transactions. The information includes the ownership structure and identity of the investor involved, the source, value and timing of investment, and sectors and products/services involved.