On 19 May 2023, EST GVT issued draft procedure for permit application. EST GVT issued draft bill on procedures of Foreign Investment Commission and procedure for submitting application for a foreign investment permit, for consultation. Permit Application Draft regulation on procedure for submitting an application for a foreign investment permit establishes list of documents to…
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Switzerland – SECO Screen Foreign Investment
On 10 May 2023, SWI GVT took note of results of the consultation on a new law on investment screening, consultation bill was rejected by most participants consulted. Majority against investment screening in principle as harmful to business, associated curb on economic freedom is excessive, if introduced its scope should be narrowed. Focus should be…
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S Korea – Gvt Promotes Foreign Investment
On 9 May 2023, SK GVT proposed to revise foreign investment rules. SK GVT proposed to revise the Enforcement rules of foreign investment promotion act. Amendments aim to simplify documents required for reporting foreign investment. Amendments Create a simplified investment overview form, which consists only of matters required when reporting foreign investment using unappropriated earned…
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S Korea – FSC Registering Foreign Investment
On 20 March 2023, SK FSC proposed amendment on capital market act. SK FSC proposed amendment on Enforcement decree of the financial investment services and capital markets act, to abolish foreign investment registration system. Also to expand limit for small public offerings and to enhance international consistency. Amendments Limit for small public offerings that are…
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Australia – GVT Foreign Ownership Register
On 2 March 2023, AST GVT issued proposals re register of foreign ownership. AST GVT issued exposure draft Treasury laws amendment (measures for future instruments) instrument 2023: register of foreign ownership of Australian assets. Also issued an accompanying exposure draft explanatory statement re the instrument. AST GVT stated that this instrument (hereafter, the regulations) amends…
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Estonia – Foreign Direct Investment Screening
On 25 January 2023, Estonia introduced a foreign investment screening regime which will enter into force on 1 September 2023. Background: regulates the conditions and procedure for assessing the reliability of non-EU foreign investors (including those with a holding of 10% or more). range of target companies includes providers of critical services, state-owned enterprises, manufacturers…
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