18 March 2020 – Restricted foreign investment in strategic sectors

Intervention Categories: Legal and policy; Regulatory change
Level of Jurisdiction: National

Overview: The Government of Spain imposed restrictions on the freedom of foreign (nonEU) investment in Spain’s strategic sectors.

Spain’s strategic sectors are critical infrastructures, critical technologies, supply of fundamental inputs, sectors with access to sensitive information (such as personal data), the media, or in any other sector when that may affect public security, public order and public health.

This law amends the current foreign investments regulation (Ley 19/2003, de 4 de julio, sobre régimen jurídico de los movimientos de capitales y de las transacciones económicas con el exterior).

These restrictions were amended on 1 April to establish an authorisation process for certain investments for those that were agreed to before 18 March 2020, or where the investment amount is equal to or greater than 1 million euros and less than 5 million euros.
Full details here: https://boe.es/boe/dias/2020/03/18/pdfs/BOE-A-2020-3824.pdf