On 18 July 2023, LUX GVT published law of 14 July 2023, establishing a national screening mechanism for foreign direct investments likely to undermine security or public order for the purposes of implementation of Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March, 2019, establishing a framework for the screening of foreign direct investments in the Union, as amended.
- Document dated 18 July 2023, was received from LUX GVT on 20 July 2023.
- List of activities qualified as critical activities, procedure for mandatory notification and required relevant documentation/information, review of notification within two months.
- Re screening procedure, its duration can't exceed 60 calendar days after its initiation.
- List of screening factors to be considered, authorization of a foreign direct investment may be subject to conditions which may be attached to the authorization decision.
- Enforcement penalties in case of lack of notification or non-compliance with conditions.
- The law's provisions will enter into force on 1 September 2023.