Foreign direct investment and national security

As they juggle national security and economic priorities, governments around the world are reshaping their investment review regimes. Over 100 jurisdictions now have laws that require governmental review of transactions on national security, public order, or similar grounds that seek to assess the threat that such investment may pose.

Freshfields provides the foreign investment expertise that drives successful cross-border M&A. We provide cutting edge insights into governments’ economic, political and national security considerations, giving you strategic advantage. Our integrated global team offers experience-based advice and representation.

Our on-the-ground teams around the world forge strong relationships with relevant authorities so our clients are always ahead of developing FDI and national security policy. The result is a string of client successes in some of the most complex transactions that have come before foreign investment regulators.

The Committee on Foreign Investment in the United States continues to scrutinise investments by non-Chinese investors for their ties to China while the U.S. government expands investment controls through new regulations restricting certain investments by US persons into China. In China, investors are faced with twin foreign investment regimes that balance openness and security. In Europe, the European Commission has proposed tougher minimum standards for national reviews which would lead to a higher number of filings.

Our industry-leading expertise in FDI and cross-border M&A enables our clients to navigate increasingly stringent global regulations. Notably, former career heads of CFIUS from the US Department of Treasury, Aimen Mir and Brian Reissaus, are part of the Freshfields team. With their combined experience, Freshfields has overseen the review and disposition of nearly every transaction presented to CFIUS from 2009-2023. Our firm therefore offers the most experienced and globally integrated teams for CFIUS and Investment Security in the market. 

In the face of heightened geopolitical tension and economic nationalism, Freshfields helps firms in all sectors achieve their international ambitions.