Spain Extends FDI Screening for EU/EFTA Investors

In a strategic recalibration, Spain has formally extended its FDI screening regime for EU and EFTA investors until December 31, 2026. The renewed control framework maintains tighter scrutiny over incoming investments in sensitive sectors such as energy, utilities, technology, defense, and critical infrastructure.

Cross-border dealmakers must now anticipate longer timelines and elevated documentation. Investment rounds that previously moved with minimal friction may now require pre-authorization, enhanced contractual safeguards, or even filings with sectoral regulators. Companies in cleantech, data services, and advanced manufacturing are watching closely—especially those targeting equity from European funds.

Legal observers see the extension as a signal: Spain intends to remain attractive, but not at the cost of sovereignty or strategic risk. Institutional investors are recommitting to thorough due diligence and evaluating whether senior approvals align with corporate timetables. The ongoing alignment with broader EU screening practices also reflects Madrid’s balancing act—welcoming productive capital while reinforcing national security.