Jurisdiction(s):
United Kingdom

Key definition

Investments definition

What does Investments mean? In practice, investments are financial products or rights acquired with the expectation of income or capital growth, such as shares, bonds, fund units and derivatives. In UK financial services law, however, the regulated concept is “specified investments” under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (RAO). This defined list includes, among others, shares, debentures and loan stock, government and public securities, warrants, units in a collective investment scheme, options and futures, contracts for differences, and rights under a contract of insurance. Whether a firm must be authorised, may communicate financial promotions, or owes particular...

Montenegro FDI review: no general screening; mandatory, suspensory approval for investments in arms and military equipment

Published by a LexisNexis Competition expert

Practice notes

1. What is the applicable legislation?

Montenegro presently lacks an FDI framework akin to the new regimes taking shape across Europe after the EU FDI Screening Regulation. Rather, it operates a classic, sector-based authorisation model centred on the defence sector, echoing arrangements seen across Europe in the latter half of the twentieth century. Foreign investment in Montenegro generally-and defence-related authorisations in particular-are regulated by the Foreign investments Act (Official gazette of Montenegro, Nos. 18/11, 45/14, and 73/19) (Foreign Investment Act) together with the Guidance on the Content and Manner of Submitting Information on Foreign Investments (Official Gazette of Montenegro, No. 19/14).
2. Which government or other body (or bodies) reviews foreign investments?

Foreign investments concerning defence are examined and decided by the Ministry of Economic Development. Before reaching any decision, that Ministry must obtain the opinions of both the Ministry of Defence and the Ministry of the Interior.
3. What is the scope of the foreign investment regime? Does it only apply to specific sectors or types of investors (eg foreign or non-EU / non-WTO)? Are there specific rules for

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Web page updated on 28/05/2026

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