Investment Policy Monitor
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
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Note: the policy measures are identified through a systematic review of government and business intelligence sources. Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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- Spain - Government restricts foreign investment regime a second time in one month
Spain
Government restricts foreign investment regime a second time in one month
01 Apr 2020On 31 March 2020, Royal Decree-Law 11/2020 was adopted, enlisting additional measures that the Spanish Government undertakes to battle the consequences of the COVID-19 pandemic, including special provisions on the foreign investment regime. The new Decree-Law clarifies, among others, the definition of a foreign investor, whose investment is subject to prior authorization. The earlier Decree-Law applied only to non-EU and non-EFTA investors, but the new Decree-Law extends the scope of FDI screening to cover also EU and EFTA residents, whose real ownership corresponds to residents of countries outside the EU and EFTA. The amendment specifies that a real ownership exists, when a non-EU/EFTA resident controls - directly or indirectly - more than 25% of the investor's capital or voting rights or otherwise exercises control over an investor.
Furthermore, Royal Decree-Law 11/2020 establishes a simplified procedure for an investment prior approval to apply to 1) those transactions that have been concluded before the entry into force of the Royal Decree-Law 8/2020, but not implemented yet; and 2) all transactions between EUR 1 million and EUR 5 million. All investment below the threshold of EUR 1 million is excluded from the obligation of prior governmental authorization.
Finally, Royal Decree-Law 8/2020 indicated that the suspension of the liberalization regime for certain foreign direct investments, which now require governmental approval, was temporary in nature and to be lifted by the Spanish Council of Ministers through a resolution. However, the new Royal Decree-Law 11/2020 deleted this notion.
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Type:
- Entry and establishment (Approval and admission)
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Industry:
- Not industry specific
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Sources:
- Boletín Oficial del Estado, Real Decreto-ley 11/2020, de 31 de marzo, por el que se adoptan medidas urgentes complementarias en el ámbito social y económico para hacer frente al COVID-19., https://www.boe.es/buscar/doc.php?id=BOE-A-2020-4208, 01 Apr 2020
- Allen & Overy LLP, Covid-19 coronavirus: the Spanish Government hardens the suspension upon the foreign direct investment in Spain, https://www.allenovery.com/en-gb/global/news-and-insights/publications/covid-19-coronavirus-the-spanish-government-hardens-the-suspension, 08 Apr 2020
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
-
Note: the policy measures are identified through a systematic review of government and business intelligence sources. Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.