Foreign Investment Screening
Foreign investment screening should be part of deal planning, not a surprise at signing. We assess whether GEO 46/2022 applies, prepare the CEISD filing and manage the review through clearance.
Updated 28 October 2026 · General information, not legal advice
What the work covers
Applicability
Investor, target sector, value and type of investment against GEO 46/2022.
Filing
Notification to CEISD with the required information on the investor and the investment.
Review
Responses to questions, meetings and negotiation of conditions.
Deal protection
Conditions precedent, long-stop dates and cooperation clauses in the SPA.
- Broad sectors. The law covers sectors including energy, transport, communications, finance, health and defense-related activities.
- New investments. Greenfield investments and capital increases can be caught, not only acquisitions.
- Standstill. An investment that needs clearance should not be implemented before it is granted.
- Applicability memo
- CEISD notification
- Clearance timetable for the SPA
What is CEISD?
The Commission for the Examination of Foreign Direct Investments, which reviews investments caught by GEO 46/2022 and issues authorizations or proposals for the Government.
Do greenfield projects need FDI screening in Romania?
They can. GEO 46/2022 covers new investments as well as acquisitions when the sector and value tests are met.
Tell us the decision you need to make
Describe the transaction or regulatory issue, the Romanian assets involved and your timetable.
Consultation