Austria - Investment Control Act

Since 2020, the Investment Control Act provides a screening of investment by persons from third states outside of the European Union, the European Economic Area, and Switzerland in case of potential threats to security or public order. 

Foreign direct investments as defined by the ICA include the direct/indirect acquisition of:

• An Austrian undertaking (e.g. mergers);
• Voting interests in such an undertaking (10%, 25% and 50% of the voting rights – see below) (e.g. share deals);
• A controlling influence over such an undertaking; and
• The acquisition of control over essential assets of such an undertaking (e.g. asset deals).

Additionally, the affected sectors are:

• Defence equipment/defence technology;
• Critical energy infrastructure;
• Critical digital infrastructure (particularly 5G infrastructure);
• Water;
• Systems that enable data sovereignty of the Republic of Austria; and
• Research and development in the fields of pharmaceuticals, vaccines, medical devices and personal protective equipment.

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