Noticias de la Cámara

New System for Screening Foreign Direct Investments in Certain Sectors in Spain | Latham & Watkins

18/03/2020 L W_logo

Given COVID-19 crisis in Spain, the government has adopted a Royal Decree-Law of extraordinary and urgent measures to deal with the economic and social impact.

Note: Please see Latham’s related Client Alert, “Spanish Government Approves Urgent and Extraordinary Measures to Mitigate the Impact of COVID-19”, for a description of the economic measures adopted to deal with the crisis.

The Royal Decree Law 8/2020, of 17 March (the RDL) amends Act 19/2003, 4 July, which is the legal framework for movements of capital and foreign investments in Spain.

The main change adopted by the RDL is to suspend the liberalization of foreign direct investments (FDI) in Spain in certain sectors.

FDI are now subject to the requirement to obtain a previous authorization. Any FDI made without obtaining authorization will be invalid and with no legal effect, and the infringing person may be fined.

The government justifies this new system of FDI screening, which suspends the previous liberalized regime, on the grounds of security and public order derived from the impact of the COVID-19 crisis on the value of Spanish companies in strategic sectors. In addition the Spanish government is adopting this FDI screening system in anticipation of the entering into force in October 2020 of Regulation (EU) 2019/452 of the European Parliament and the Council of 19 March 2019 establishing a framework for the screening of FDI into the EU.

This new Spanish FDI screening scheme came into force on 18 March 2020. It will remain in force until the government decides otherwise.

Read the full alert at the document attached.


Documentos adjuntos:
New System for Screening Foreign Direct Investments in Certain Sectors in Spain | Latham & Watkins
Spain Imposes Royal Decree 463/2020 to Manage COVID-19 Health Crisis | Latham & Watkins
Spanish Government Approves Urgent and Extraordinary Measures to Mitigate the Impact of COVID-19 | Latham & Watkins

Socios Patrón

  • Selier Abogados
  • Mondragon Corporación
  • CFP Energy
  • Iberdrola
  • HSBC Bank
  • Diageo
  • Gleeds Ibérica
  • AstraZeneca
  • El Corte Inglés
  • Telefónica
  • Pearson
  • Sage
  • Banco Sabadell
  • Plain Concepts
  • Santander
  • Oxford University Press
  • Cuatrecasas
  • JCB
  • Canon
  • Savills
  • Mitie
  • Hays España
  • Arriva a DB Company
  • PwC
  • Brico Depôt
  • GSK
  • EAE Business School

Socios Corporativos

  • ISP Schools
  • Parque Tecnológico de Andalucía
  • Forvis Mazars
  • Bunzl Distribution Spain
  • Barclays
  • A&O Shearman
  • Lightsource bp
  • H10 Hotels
  • David Lloyd
  • Allergy Therapeutics Iberica
  • Segro Spain Management
  • Cognita Schools
  • Arup
  • British Council
  • Value Retail
  • PKF Attest
  • Uhy Fay & Co
  • Colt Technology Services
  • Rentokil Initial
  • Flutter
  • Croda Ibérica
  • Berkeley Energía
  • HM International Patient
  • TSL Projects Spain
  • Quantexa
  • Dukes Education
  • Iberia Cards
  • Lloyd’s Insurance Company SA, Sucursal en España
  • Kreab Worldwide
  • Grupo Hospitalario HLA
  • Indra Group
  • Roman
  • Panorama Properties
  • Haleon
  • Gómez-Acebo & Pombo
  • Gamma
  • Brunswick Group
  • Spectrum IFA Group
  • Menzies LLP
  • CMAC Group
  • Vueling Airlines
  • BDO
  • Oak House School
  • Smith & Nephew
  • Derby Hotels Collection
  • Araex Grands
  • Grant Thornton
  • Cubico Sustainable Investments
  • Ayming España
  • Barrilero & Asociados
  • McArthurGlen Designer Outlet Málaga
  • UAL Awarding Body
  • Adlanter
  • Sacyr
  • Boult Wade Tennant
  • PageGroup
  • EY
  • Baker Tilly
  • Aon España
  • ERM
  • Gilmar Real Estate
  • Holiday World Resort
  • Firefly
  • EGD Logistics
  • Brand Finance
  • Control Group
  • Currencies Direct
  • Cabrera Rodriguez ETL Global
  • Schüco
  • Presstour
  • AFI, Analistas Financieros Internacionales
  • CaixaBank
  • ACS
  • Mazars
  • MARCO Agency
  • IQS
  • Ferrovial
  • Kensington School
  • Globeducate British International School
  • Safetykleen
  • BT Global Services
  • De Cotta McKenna y Santafé
  • Agencia de Innovación y Desarrollo de Andalucía IDEA