Overview

A recent amendment of the Austrian Foreign Trade Act subjects the acquisitions of relevant interests in enterprises in specific industries, including telecoms and energy, to review and approval by the Austrian Ministry of Economic Affairs. In addition to providing a general summary of the new amendment, this briefing answers the following queries:

• Which transactions qualify for advance approval under the FTA?


• Which industry sectors qualify as "Protected Sectors"?


• Who qualifies as "Foreign Investor"?


• Compliant avoidance of Approval Requirement?


• Which procedures apply, what are the timelines to obtain approval?


• What are the legal consequences and sanctions of a violation of the approval requirements?

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