Issues guidance on FDI screening obligations
01 Dec 2025
In December 2025, the Federal Ministry for Economy, Energy and Tourism of Austria (Bundesministerium für Wirtschaft, Energie und Tourismus, BMWET) issued guidance clarifying the assessment of filling obligations under Austria’s Investment Control Act (ICA). The guidance narrows previously broad interpretations of critical sectors in Part 2 of the ICA Annex by providing concrete examples across sectors such as energy, information technology, traffic and transport, health, food, and finance, while confirming that activities not expressly listed may still be considered critical where security or public-order concerns arise. It also clarifies the concepts of foreign direct investment, control, and controlling influence, including in the context of asset deals.
In particular, the BMWET confirms that asset deals in critical sectors are notifiable where a controlling interest over substantial assets is acquired, even at a low materiality threshold, and that controlling influence may arise without formal voting control, including through strategic veto rights. The guidance further clarifies the application of the micro-enterprise exemption and provides practical recommendations on application requirements, thereby enhancing legal certainty for investors.
Nature of measure:
Type:
-
Promotion and facilitation (Investment facilitation )
Industry:
-
Manufacturing (Manufacture of food products, beverages and tobacco products, Manufacture of basic pharmaceutical products and pharmaceutical preparations)
-
Services (Electricity, gas, steam and air conditioning supply, Wholesale and retail trade, Transportation and storage, Computer programming, consultancy and related activities, Financial and insurance activities, Human health activities)
Inward FDI:
Yes
Outward FDI:
No
Sources:
