The yearly publication Foreign Direct Investment Regimes provides foreign investors with a guide to cross-border investments.
International Comparative Legal Guide (ICLG) is updated annually and gives current and practical comparative legal information on various practice areas. This year's Norwegian chapter in ICLG: Foreign Direct Investment Regimes 2021 is written by Thommessen-partner Eivind J. Vesterkjær and Managing Associate Magnus Hauge Greaker. The chapter outlines the provisions on ownership control in the Norwegian Security Act.
- The Norwegian rules that enable the authorities to monitor investments and transactions related to businesses that are important to national security differ from similar rules in several other jurisdictions because they apply to both Norwegian and foreign investors without discrimination, says Vesterkjær,
- Furthermore, the rules specify that the authorities may decide that a specific business shall be subject to an investment review on a case-by-case basis. This entails a level of uncertainty, as it may be decided that an investment or transaction is to be reviewed after a deal has been signed and even completed. Currently, there is no practice related to the law, and therefore it is unclear what kind of businesses and sectors that will be subject to investment reviews, says Greaker.
Read the entire Norwegian chapter here, first published in ICLG : Foreign Direct Investment Regimes 2021.
The guide is distributed to key international players, among them general counsel, law firms and government agencies.