Extends the sanctions regime under its FDI screening regime to investors from the European Union
17 Jul 2024
On 17 July 2024, Romania enacted Law No. 231/2024, which further amends its foreign direct investment (FDI) screening regime. This law extends the sanctions regime to include investors from the European Union, aligning their treatment with that of non-European Union investors. It standardizes the handling of unauthorized investments for both categories of investors, clarifying that sanctions can be applied for both negligent and intentional actions. Additionally, it stipulates that providing inaccurate, incomplete, or misleading information is punishable, regardless of intent. The law also states that investments made without clearance are deemed null and void, with the FDI Screening Commission advising on measures to unwind such transactions. The Romanian Competition Council (RCC) is tasked with establishing comprehensive guidelines for reviewing foreign direct investments, thereby enhancing clarity and predictability in the screening process.
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Entry and establishment (Approval and admission)
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