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Clifford Chance

Clifford Chance


Belgium's new foreign direct investment notification requirement has potentially significant timing implications for international transactions

30 June 2023

On 1 July 2023, the new Belgian foreign direct investment ("FDI") screening mechanism enters into force. The new screening procedure, which potentially applies to transactions involving the acquisition of 25% or 10% of a Belgian undertaking active in a wide range of sectors, includes a notification requirement on foreign investors subject to a standstill obligation, relies on a broad definition of "foreign investor," and features extendable deadlines. It also has limited retroactive effect.

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