National Foreign Direct Investment Screening Office set up

Malta has set up the National Foreign Direct Investment Screening Office, intended to screen and vet potential applications for foreign direct investment into Malta. The scope and remit of the Office shall be to screen new FDI projects, joint ventures with a foreign component and the transfer of any shares and/or controlling interests in existing companies where the owner, titleholder or ultimate beneficial owner originates from third countries (that is, any country which is not a member of the European Union).

This is in implementation of Regulation (EU) 2019/452 which is expected to come into force on 11 October 2020.

The Regulation establishes a comprehensive framework for the screening of foreign direct investments into the European Union on the grounds of security or public order.