Country Note France 2025
By Ruben Koslar, CELIS Country Reporter for France.
This Country Note provides a comprehensive analysis of France’s foreign investment screening mechanism as of 2025, examining its legal, administrative, and political context.
France actively encourages foreign investment through favourable policies and incentives, maintaining its position as a leading European destination for international capital. However, investments in sensitive sectors—such as defense, critical infrastructure, and advanced technologies—are subject to prior authorization by the Minister of Economy to safeguard national interests. The screening framework, rooted in the French Monetary and Financial Code and shaped by evolving geopolitical and economic considerations, applies broadly to foreign investors, including those from the EU.
The report details the procedural steps for investment review, the scope of sensitive activities, and the conditions or sanctions that may be imposed. It highlights the dynamic nature of the French regime, which adapts to emerging threats and policy debates, balancing economic openness with sovereignty and security concerns. Recent legislative and regulatory developments, as well as ongoing discussions about the future direction of investment control, are also addressed.
The analysis draws on recent data, case studies, and official guidelines, offering insights for policymakers, investors, and legal practitioners navigating France’s foreign investment landscape.
