France – GVT Foreign Investment Screening

France – GVT Foreign Investment Screening

On 30 April 2020, FR GVT adapted rules on investments during Covid.

  • FR GVT adapted control of foreign investments in France (IEF), during the Covid crisis.
  • Minister of Economy and Finance announced the adaptation of a procedure on 29 April 2020.

Foreign Direct Investment

  • First, long-term inclusion of biotechnologies in critical technologies list for IEF control.
  • Achieved through an order of 27 April 2020 relating to foreign investments in France.
  • Second, by lowering of the shareholding threshold to 10%, until the end of the year.
  • Going over 10% of voting rights in sensitive companies, will trigger authorization procedure, for listed companies, and investors from third countries, except EU, EEA


  • Text lowering the threshold will be submitted to the State Council in the coming days.
  • It should become applicable during the 2nd half of 2020.