France lowers the review threshold for foreign investment in strategic companies from 25% to 10%

The French government has tightened controls on foreign investment in strategic companies, lowering the ownership threshold that triggers state scrutiny from 25% to 10%. According to broadcaster BFMTV, reported on Monday, 3 August 2026 (12 Mordad 1405), Prime Minister Sebastien Lecornu signed a decree that was published on Sunday.

Under the new rules, a non European investor seeking to acquire at least 10% of the voting rights in a listed French company operating in a strategic sector will face review by the Economy Ministry. Previously the review was triggered only at a stake of 25% or more.

The Prime Minister's Office said the measure seeks to protect businesses and technologies key to French security and to guard against "opportunistic non European stakes" in a geopolitical context marked by strong tensions. Foreign investors must notify the Directorate General of the Treasury, and once a complete application is received the economy minister has 10 days to decide whether the transaction requires further examination. The decree follows a parliamentary report submitted to Lecornu on 20 July.