Background Another day, another ground-breaking change in Spain’s FDI rules.  November 2021 has been an eventful month for FDI in Spain.  The following two developments are likely to be consequential in the evolution of the country’s policy as regards foreign investments: (i) More than a year after the establishment of the Spanish 2020 FDI ex-ante…

There is a lot of hype about the Spanish FDI regulations introduced by a number of Royal Decrees in 2020: fines of up to the value of the deal, non-controlling acquisition of shares can potentially trigger a filing, etc. And yet, prior to 2020, Spain already had FDI provisions on the books. These pre-2020 FDI…