Foreign Investment Screening in Romania
By Szilaghi Law · Updated 28 October 2026 · General information, not legal advice
Romania screens foreign direct investments under GEO 46/2022. Investors from outside the EU, and in some cases EU investors, must obtain CEISD authorization before implementing investments in security-sensitive sectors that meet the law's thresholds. Plan the filing into the deal timetable.
Check the investor
Identify the ultimate investor and whether it is from outside the EU or controlled from outside the EU.
Check the sector
Compare the target's activities with the security-relevant sectors listed in the law, such as energy, transport, communications, finance and health.
Check the thresholds
Compare the investment value and type with the thresholds in GEO 46/2022.
File
Submit the notification to CEISD with information on the investor, target and investment.
Manage the review
Answer questions and agree conditions where needed.
Close
Implement only after authorization.
- Investor ownership chart
- Target activity description
- Investment value
- CEISD notification
- Conditions precedent in the SPA
- Ignoring greenfield. New investments can be caught, not only acquisitions.
- Assuming EU status. An EU company controlled from outside the EU can be treated as foreign.
- Closing early. Implementing without authorization exposes the parties to fines and measures.
Is screening the same as merger control?
No. Merger control looks at competition; FDI screening looks at security and public order. A deal can need both.
Can conditions be imposed?
Yes. Authorization can be granted with conditions to address security concerns.
Tell us the decision you need to make
Describe the transaction or regulatory issue, the Romanian assets involved and your timetable.
Consultation