France Intensifies FDI Screening: More Filings, Stricter Conditions
The 2026 French annual report reveals a sharp rise in foreign investment filings and heightened scrutiny, signaling major implications for companies eyeing sensitive sectors and attracting tighter EU-wide harmonization.
The 24 September 2026 French Ministry of the Economy and Treasury report details a record 418 FDI filings in 2025, up 16 % from 2023, with 48 % deemed out‑of‑scope and almost half of approvals (49 %) carrying conditions. Investors, especially in agri‑food, renewables and software, should now factor in potential operational and governance constraints that can early‑stage decisions. The French authorities’ expanded preliminary‑assessment process—which 72 % of cases turned out to be outside scope—offers a key compliance tool for mitigating over‑filing. Moreover, a 2026 decree extends the 10 % voting‑rights threshold to French‑listed companies on certain non‑EU exchanges, tightening controls on minority stakes. Across the EU, the new Foreign Investment Screening Regulation, effective January 2028, will harmonise scopes and timelines, broadening review to dual‑use items, electoral infrastructure and financial services. Firms should re‑evaluate cross‑border M&A plans now, use preliminary assessments, and monitor for impending EU compliance as France aligns its domestic regime with the forthcoming framework.