Moldova will introduce stricter and more transparent mechanisms for controlling investments important for state security
This is stipulated by the relevant amendments to the Law on the mechanism of examining investments important for the state security, passed by Parliament in the second reading. According to the Ministry of Economic Development and Digitalization, the bill was developed to clarify procedures, eliminate ambiguities and provide a more predictable legal framework for investors. Among the expected results are: reduction in the number of transactions requiring pre-approval, as well as a reduction in the number of transactions that could adversely affect the security of the state. The proposals aim to exclude from the scope of this law minor investments that cannot affect Moldova's national security. These include transactions within the same group of companies and transactions to increase the authorized capital, in the case of persons who already have control over the operator. In addition, persons who are suspects, accused or defendants in criminal prosecution for money laundering and terrorism financing initiated by the competent authorities of Moldova or other states; are under criminal prosecution for committing a grave, especially grave or exceptionally grave crime; are or have been for the last 5 years on the list of individuals or legal entities under international sanctions, etc. will not be able to make investments. Similarly, the list of documents and information submitted by the investor regarding the expected size of the investment was revised, but not the maximum one. At the same time, individuals who intend to invest in sectors important for the security of the state will be obliged to submit income declarations for the last 3 years from the country where they have tax residency. The document is also supplemented with provisions that relate to the obligation of investors to provide information on their market experience and reputation to the Council for the Promotion of Investment Projects of National Importance. Thus, possible risks in areas important for the security of the state will be reduced. The legislative amendments will enter into force from the date of publication in Monitorul Oficial (the Official Journal of Moldova), except for the article on cooperation between the government and the European Commission regarding investments made in areas important for Moldova's security. This article will enter into force on January 1, 2030. At the same time, Government will amend its normative acts in the next 6 months after the document comes into force, in line with the new provisions. // 28.02.2025 - InfoMarket
