Constant surveillance of foreign investments in Poland- what are the new obligations for investors?

As of 24 July 2025, amendments to the Act on the Control of Certain Investments have entered into force. The Act of 9 July 2025 repealed the time limitation for Articles 12a–12k and 16a–16b, introducing a permanent foreign investment control regime.

Investment control in new hands- what are the legislative changes?

The amendment to the Act on the Control of Certain Investments and the Act on Interest Subsidies to Bank Loans:

• makes Articles 12a-12k and 16a-16b permanent.
• transfers competence for foreign investment screening from the President of UOKiK to the Minister of Development and Technology.

The permanent screening mechanism applies to non-EU/EEA/OECD investments leading to:

• acquisition or attainment of significant participation (at least 20% of voting rights, equity, or profit share).
• acquisition of control over a protected entity.

The Minister of Development and Technology may initiate proceedings, request information, and- if the investment poses a threat to public order, state security, or public health- issue an objection rendering the transaction null and void.

New notification obligations for non-EU investors

• Notification obligation applies to non-EU/EEA/OECD investors prior to completing a transaction involving a protected entity.
• Protected entities include public companies, businesses holding critical infrastructure, entities developing strategic software, and companies in sectors such as energy, fuels, chemicals, telecommunications, transport, pharmaceuticals, or food processing.
• Protection applies, among others, to entities with annual turnover in Poland exceeding 10 million euro in at least one of the last two financial years.

Are you planning an investment in Poland and want to check whether it is subject to new notification obligations?
Contact our team for an individual legal analysis, assessment of legal risks, and preparation of an action strategy.