Acquisitions by Non-EU Buyers of German Targets May Require Special Regulatory Review or Approval

March 29, 2016

A German regulatory requirement applying to non-EU buyers of German-based companies, which remains fairly unknown, is the approval or the clearance declaration, which must or should be obtained under the German Foreign Trade Law and the German Foreign Trade Regulation. This article will give a short summary of the existing legal framework and required processes in Germany for non-EU buyers. It will also provide some guidance on the circumstances where the regulatory clearance under the German Foreign Trade Law might not be only a formality but might entail a thorough investigation by the German authorities.

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