Foreign Investment Screening (FIS) Revision
INITIATIVEExternal Strategy, Economic Security & Democratic Resilience
The FIS revision will harden Europe’s economic security while keeping the EU open to investment. It requires every Member State to run a pre-closing screening regime and aligns scope, timelines and information via a single EU cooperation channel. Coverage extends to intra-EU deals made through EU subsidiaries controlled by non-EU parents, closing circumvention gaps. Notifications will focus on targets in Annex II high-risk areas and on projects/programmes of Union interest (Annex I). The system streamlines multi-country cases, preserves national decision-making, and ensures coherence with the EU Merger Regulation (Art. 21(4)), the Foreign Subsidies Regulation, NIS2 and the CER Directive. A 15-month transition, annual reporting and secure IT tools underpin implementation.