Foreign Direct Investment Screening in Belgium—What to Expect?

On June 1, 2022, the various governments of Belgium reached a cooperation agreement on a screening regime for foreign direct investments (FDI). The new regime aims to protect Belgium’s national security, public order, and strategic interests. To that end, transactions in a wide range of sectors, and regardless of their size, will be subject to mandatory and suspensory notification to a new body, the Interfederal Screening Commission (ISC). The new regime is currently expected to enter into force by mid-2023.

Why is Belgium introducing FDI screening? Which deals are caught by the new regime? Which sectors are concerned? How does this impact inbound M&A in terms of deal timing and certainty? How will it be enforced? How does the Belgian regime relate to the EU FDI Screening Regulation? During this webinar, Karel Bourgeois (partner) and Karl Stas (senior counsel) will try to answer these questions and more.