The Foreign Investments Screening Act, in effect from 1 May 2021, introduces national foreign investment screening mechanisms for the purpose of protecting the security of the state or its internal or public order. Non-EU investors acquiring effective control (for instance, 10% of voting rights) in particular sensitive areas, such as the defence industry, dual-use goods and critical infrastructure (which includes telecommunications), are subject to mandatory notifications and approval requirements. A second, cross-sectoral mechanism with voluntary notifications for reviews or ex officio investigations by the Ministry of Industry and Trade applies to other investments by non-EU investors which have the potential to endanger the state security or its internal and public order.
"§ 1 Subject of legislation:
This law provides in connection with directly applicable European Union regulation 1 )
(a) rules for the examination of certain foreign investments due to the protection of the security of the Czech Republic and internal or public order, and
b) certain obligations of foreign investors.
§ 2 Foreign investor:
(1) For the purposes of this law means anyone who has carried out or intends to make foreign investments in the Czech Republic and
(a) is not a national of the Czech Republic; or a citizen of another Member State of the European Union, 
(b) is not established in the Czech Republic or in another State of the European Union or
(c) is directly or indirectly controlled by the compliance officer requirements under points (a) or (b).
[...]
§ 5 Effective degree of control carrying out an economic activity:
An effective measure of control over the activities for the purposes of this Act
(a) the possibility for the foreign investor to less with a 10% share of voting rights or the possibility of exercising a corresponding influencein the person through whom the economic performs the activity (hereinafter referred to as the “target person”); to shares are also included in this share persons who are with a foreign investor subject to a single procedure, and the which deal with a foreign investor inagreement,
b) membership of a foreign investor or person close to him in the body of the target person,
(c) the ability of the foreign investor to dispose of technical rights to the matter through which the economic activity (hereinafter referred to as the case ”), or
(d) another level of control which results in the ability to the ability of a foreign investor to gain access to formations, systems or technologies which are important from the point of view of safety protection Of the Czech Republic or internal or public all right.
[...]
§ 7 Without a permit pursuant to Section 14 (1) or authorization pursuant to Section 15 (3) may not be foreign investment in 
a) the target person carrying out the production, research,development, innovation 2 ) or the provision of military material in accordance with the Regulation governing foreign trade in military material 3 ), or to the target object, the through which that activity is carried out,
(b) the target person operating the critical investment infrastructure designated by the relevant central administrative office 4 ),
c) the target person, who is the administrator of the information critical information infrastructure system,communication system administrator critical information infrastructure, the information basic service or operating system.basic service provider 5 ), or
(d) the target person who develops or manufactures the goods listed in Annex IV to Council Regulation (EC) 428 // 2009 establishing a Community regime for export control, transport, mediation and transit of dual-use items, as amended,or to the target matter through which the develops or manufactures such goods.
§ 8 (1) For foreign investments that are not foreign investments pursuant to § 7 and are eligible for the security of the Czech Republic or the internal or public order, the Ministry may initiate proceedings on the ex officio verification of foreign investment
(a) on the basis of the outcome of the consultation proposed by a foreign investor pursuant to § 10 paragraph 1, or
b) within 5 years from the date of completion of the foreign investment,if the foreign investor has not submitted a proposal for consultation pursuant to Section 10 (1).[...]" (Foreign Investments Screening Act (34/2021), in effect from 1 May 2021, Sections 1, 2, 5, 7 and 8 [google translation])
Foreign Investments Screening Act (34/2021), in effect from 1 May 2021, Sections 1, 2, 5, 7 and 8 [google translation]
[<a href="https://aplikace.mvcr.cz/sbirka-zakonu/SearchResult.aspx?q=34/2021&typeLaw=zakon&what=Cislo_zakona_smlouvy">Act</a>],[<a href="https://mpo.cz/en/foreign-trade/investment-screening/legislation/legislation--261340/">Ministry</a>]