STOP PRESS: this guide is currently being updated following the entry into force of Regulation (EU) 2026/1386 on 16 July 2026, which will replace the current EU FDI Screening Regulation from 17 January 2028. 1. What is the applicable legislation? The applicable legislation is Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 (Regulation) establishing a framework for the screening of FDIs into the Union (the Regulation). The Regulation was published on 21 March 2019 and entered into force on 10 April 2019, but its provisions only fully applied from 11 October 2020 (following an 18-month transition period). As a preliminary note, the Regulation does not establish a fully-fledged new foreign investment control regime at EU level nor replace existing national rules. Instead, it introduces a framework for screening FDI into the EU, designed to complement national rules, and includes: • a mechanism for cooperation and information exchange between Member States in the EU, and between them and the European Commission • a process to allow the Commission and Member States to issue