Investment Screening
On 19 December 2025, Parliament adopted the Investment Screening Act (ISA). It aims to safeguard public order and security by subjecting acquisitions of Swiss companies operating in especially critical sectors by foreign state-controlled investors to prior approval. Entry into force is expected in 2027.
Over recent decades, cross-border investments have gained increasing importance worldwide. Such investments are a key factor in economic development and the international integration of companies. At the same time, in certain constellations they may raise issues relating to public order and security, in particular in connection with security-relevant activities or where a company provides a service that is indispensable to the economy and cannot be replaced within a reasonable period of time.
In this context, in 2020 Parliament instructed the Federal Council, through the adoption of motion 18.3021 Rieder ‘Protection of the Swiss economy through investment controls’, to establish a legal framework for the screening of selected foreign investments. On 15 December 2023, the Federal Council submitted to Parliament the dispatch on the Investment Screening Act (ISA).
Parliament adopted the Investment Screening Act on 19 December 2025. The Act aims to prevent the acquisition of a Swiss company by a foreign investor from threatening or endangering public order or security in Switzerland. To this end, certain acquisitions are subject to prior approval. The Act applies to Swiss companies operating in especially critical sectors when they are acquired by foreign state-controlled investors.
The Investment Screening Act is currently expected to enter into force in 2027.
Studies and Reports
Investment Screening Act
BBl 2026 31 (Available only in German, French and Italian)
Message on the Federal Act on the Screening of Foreign Investments (Available in German, French or Italian)
Draft Investment Screening Act (Available in German, French or Italian)
Legal opinion on questions of international economic law regarding exemptions from investment screening in favour of certain States (Available in German only)
Public consultation on legislation to screen foreign investment: All relevant information is available here (in German, French or Italian).
Press releases
Related topics
Export Control Regimes and International Treaties
Switzerland implements the disarmament and nonproliferation treaties and is a member of the four export control regimes.
Contact
Sanctions
Holzikofenweg 36
CH - 3003 Bern
Information by telephone: Tuesday, Wednesday and Thursday from 10:00 a.m. to 12:00 p.m.