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Clifford Chance

Clifford Chance


Coronavirus: Royal Decree-Law 34/2020, of 17 November: another turn of the screw for the regime on Foreign Investment in Spain post Covid-19

25 November 2020

Among the many measures that the Government adopted as a result of the declaration of the state of emergency by means of Royal Decree 436/2020, of 14 March, with a significant impact on investments in Spain, one that stands out is the suspension, effective as of 18 March, of the system of deregulation of foreign direct investment in Spain, implemented by Royal Decree-Law 8/2020, of 17 March, on urgent extraordinary measures to address the economic and social impact of COVID-19 ("RDL 8/2020"). As a result, the need for authorisation for foreign investment became the norm, when it had previously only been required exceptionally, for very specific sectors, when carried out by residents of countries outside the European Union ("EU") and the European Free Trade Association ("EFTA").

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