Now that we have seen a close to 2020, let’s take a look at foreign investment changes around the globe. Following on from my 2nd installment in September, full article.
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Australia – Gov’t Foreign Investment Reforms
On 9 December 2020, AST GVT passed legislation on foreign investment framework reform. Requires foreign investors to seek approval for all investments in sensitive national security land or businesses, including starting such a business, regardless of value. Subjects foreign investors to enhanced monitoring and investigation powers. As well as continue to bear the costs of…
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U.K. – Gov’t National Security, Investment Bill
On 3 December 2020, UKP issued Commons 5th, 6th sittings, compilation of committee debate sittings so far, all as at 1 December 2020, notices of amendments as at 1 December 2020. And issued all committee stage proceedings up to 1 December 2020, chairs’ provisional selection, grouping of amendments and committee amendments, both at 3 December…
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NZ – Extends Foreign Direct Investment Screening
On 27 November 2020, NZ GVT announced retention of the emergency notification regime. Second review concluded that Covid justifies regime continuing for a further 90 days. Ministers’ next decision on whether it should be retained will be due by 24 February 2021. Background Introduced June 2020, to manage heightened foreign investment risks due to Covid.…
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UAE GVT 100% Foreign Ownership
On 23 November 2020, UAE GVT allowed for 100% foreign ownership of firms. UAE GVT presidential decree relaxed limits on the foreign ownership of onshore firms. As announced by media reports; decree is meant to strengthen UAE's global status. Follows DIFC Courts, FDI partnership to boost foreign direct investment. Amendments to Corporate Law Amended UAE…
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France – GVT Foreign Direct Investment
On 12 October 2020, FR GVT issued update on entry into force of EU regulation. DG Trésor issued an update on the entry into force of the regulation establishing a framework for screening of foreign direct investments (FDIs) in the European Union. Followed March 2019, EC regulation on screening foreign direct investment. Followed December 2019,…
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