{"id":123910,"date":"2026-11-06T18:22:09","date_gmt":"2026-11-06T18:22:09","guid":{"rendered":"https:\/\/www.europesays.com\/germany\/123910\/"},"modified":"2026-11-06T18:22:09","modified_gmt":"2026-11-06T18:22:09","slug":"germany-draft-for-new-investment-screening-act-tim-schaper-david-fila","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/germany\/123910\/","title":{"rendered":"Germany: Draft for new Investment Screening Act, Tim Schaper, David Fila"},"content":{"rendered":"<p>The BMWE plans to move German FDI screening from the AWG\/AWV into a standalone Investment Screening Act (IPG, Investitionspr\u00fcfungsgesetz) and Ordinance (IPV, Investitionspr\u00fcfungsverordnung), implementing Regulation (EU) 2026\/1386.\u00a0<\/p>\n<p>The drafts have not yet been adopted by the Federal Government; consultation is ongoing and entry into force is expected in early 2027. The system stays familiar, but more transactions will become reviewable.<\/p>\n<p><a href=\"https:\/\/engage.nortonrosefulbright.com\/1355\/37941\/uploads\/draft-investment-screening-act-germany-client-briefing-05-11-2026-draft-1.pdf\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">This decision tree<\/a> shows whether a filing would become necessary under the new law.1<\/p>\n<p>What changes<\/p>\n<p class=\"Bullets1\">Three procedures, one &#8220;approval&#8221;:\u00a0sector-specific and case-group-specific (mandatory filing and standstill), plus a cross-sector catch-all without a mandatory filing requirement.<\/p>\n<p class=\"Bullets1\">Thresholds:\u00a010% and 25% remain; 20% and 40% go; the step-up to 100% becomes reviewable. Listed targets: entry at 15% (instead of 25%) in\u00a0Tests II and III, step-up at 30% (instead of 25%) in\u00a0Test I.<\/p>\n<p class=\"Bullets1\">Wider net:\u00a0all Annex I dual-use goods, election systems, broader AI, semiconductor and quantum case groups; relevant influence even possible without voting rights; licences as relevant assets; circumvention by effect; EFTA investors and dual nationals now count as foreign.<\/p>\n<p class=\"Bullets1\">Procedure:\u00a045 + 120 days, but only from receipt of a complete filing; ex officio review limited to three years; prohibitions need no cabinet decision and are published by the BMWE; new fines and interim measures; filing data may be shared with non-EU screening authorities.<\/p>\n<p>What deal teams should do prospectively<\/p>\n<p class=\"Bullets1\">Map the ownership chain up to the UBO, including nationalities, funds and co-investors.<\/p>\n<p class=\"Bullets1\">Check targets early for dual-use goods; many are unaware their products are listed.\u00a0<\/p>\n<p class=\"Bullets1\">Review governance rights, side letters, licences and squeeze-outs for filing triggers.<\/p>\n<p class=\"Bullets1\">Prepare complete filing packages before signing and align same-day filings across the EU.<\/p>\n<p>This briefing reflects ministerial drafts. Thresholds, case groups and procedures may still change in the inter-ministerial and parliamentary process; in particular, greenfield investments and certain EU investors in critical infrastructure may yet be brought within scope. The current AWG\/AWV rules continue to apply until the new law takes effect.<\/p>\n","protected":false},"excerpt":{"rendered":"The BMWE plans to move German FDI screening from the AWG\/AWV into a standalone Investment Screening Act (IPG,&hellip;\n","protected":false},"author":2,"featured_media":123911,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5,4204,4734],"class_list":["post-123910","post","type-post","status-publish","format-standard","has-post-thumbnail","category-germany","tag-germany","tag-governance","tag-regulation"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/123910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=123910"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/123910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/123911"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=123910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=123910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=123910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}