Acquisition of a company of significance to national security requires a permit from the government of Latvia

Amendments to the National Security Law that entered into force on 29 March 2017 established a new mandatory review mechanism for transfer of ownership in certain assets or enterprises, including companies of significance to national security. These include certain entities in telecommunications, broadcasting, electricity generation and transmission as well as gas transmission. In case of a change of control, a permit from the Latvian Cabinet needs to be issued before a transaction and this applies to all investors, regardless of their country of origin.

• Type:

  • Entry and establishment (Ownership and control, Approval and admission)

• Industry:

  • Services (Electricity, gas, steam and air conditioning supply, Publishing, audiovisual and broadcasting activities, Telecommunications)

• Sources:

  • OECD, Investment policy related to national security – notification by Latvia, http://www.oecd.org/officialdocuments/publicdisplaydocumentpdf/?cote=DAF/INV/RD(2018)1&docLanguage=En, 19 Feb 2018
  • Likumi.lv, Amendments to the National Security Law, https://likumi.lv/ta/id/289677-grozijumi-nacionalas-drosibas-likuma, 28 Mar 2017