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ARTICLE · 08 MARCH 2024

Proposed FDI Screening Guidelines Published – What We Have Learnt

William Fry LLP
William Fry LLP
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William Fry LLP

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On 16 February last, the Department of Enterprise, Trade and Employment (the Department) published draft guidance for stakeholders and investors (the Draft) regarding the forthcoming entry...

IrelandGovernment, Public Sector
Cormac Little SC
Cormac Little SC
Claire Waterson
Claire Waterson
Sheila Tormey
Sheila Tormey
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On 16 February last, the Department of Enterprise, Trade and Employment (the Department) published draft guidance for stakeholders and investors (the Draft) regarding the forthcoming entry into force of the Screening of Third Country Transactions Act 2023 (the Act).

The purpose of the Act is to empower the Department to protect the security and public order of the State from the acquisition by potentially hostile third-country entities of sensitive Irish businesses and assets.

Once commenced, the Act will provide for the establishment of a national inward investment (also known as foreign direct investment/FDI) screening mechanism for the first time. The Draft contains some useful pointers on how both the jurisdictional and other aspects of the new regime will likely operate in practice.

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