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The National Screening Mechanism for Foreign Direct Investments (FDI), provided for by Regulation (EU) 2019/452, was introduced at the beginning of 2024 “under a suspensive condition” with the Investment Promotion Act.
It was envisaged that, in order for the mechanism to start applying, the Regulations for the Organization and Operation of the Interdepartmental Council for Screening of Foreign Direct Investments (ROOICSFDI) should be adopted and the Regulations for Application of the Investment Promotion Act (RAIPA) should be amended.
In mid-January 2025, the procedures for public consultations on the drafts of the Regulations mentioned above ended and were followed by the adoption by the Council of Ministers and the promulgation of the Regulations for the Organization and Operation of the Interdepartmental Council for Screening in the State Gazette on 31.01.2025.
Therefore, the adoption of the Decision of the Council of Ministers amending the Regulations for the Application of the Investment Promotion Act can be expected at any moment. With it, all foreign investments subject to control shall be notified to the Interdepartmental Council for Screening of Foreign Direct Investments.
What can we help with?
- Preliminary consultations and analysis for FDI clearance requirements;
- Assistance in the preparation of applications for FDI clearance and the accompanying documents;
- Representation and assistance before the competent authorities in connection with the new FDI clearance procedure.
Summary
If you have any further questions you want to discuss with our team, please contact the authors or email us at eybulgaria@bg.ey.com.