France – GVT Foreign Investment In France

France – GVT Foreign Investment In France

On 12 September 2019, FR GVT issued guidance on foreign investment.

  • Treasury issued information on prior authorization process for foreign investments.
  • Followed December 2018, FR GVT decree on authorized foreign investments.
  • Followed PACTE law on business transformation and growth.


  • PACTE law reformed prior authorization process, to preserve national strategic interest.
  • Aims to better prevent or punish breaches, with new powers for Minister of Economy.
  • Aims to protect future sectors, extended application to aerospace and civil protection.
  • And to research and development activities in cybersecurity, artificial intelligence, robotics, additive manufacturing, semiconductors and hosts of certain sensitive data.
  • Also aims to simplify, so companies which are the subject of an investment project will also be able to ask a prior authorization, in conditions to be specified by decree.
  • To increase transparency, statistics on foreign investment in France are now published.