Foreign direct investment and outbound direct investment succeed or fail on decisions made before capital moves. We advise international companies entering new markets and local companies expanding abroad, across the full arc from strategy to execution.

What We Do

Cross-border foreign direct investment decisions rarely reduce to a single legal question. A company choosing a market is weighing regulatory access, capital mobility, tax exposure, and operational risk at once — and the order in which those are resolved determines whether the investment clears at all. For inbound investors, the work spans market selection, regulatory navigation, entity setup, and operational planning before a single contract is signed.

 

For companies pursuing international outbound direct investment (ODI), the questions invert: capital export controls, jurisdiction selection, partnership structure, and risk mitigation in markets where the rules are unfamiliar. The two directions are not separate practices — a Chinese company’s outbound deal is some other market’s inbound foreign direct investments, and the same structural logic governs both sides.

 

Across both directions, the strategic layer is what an FDI advisor actually adds: whether to enter through M&A, a joint venture, or a greenfield build; how to position the holding structure; how to sequence approvals. Our FDI and ODI advisory services are built around the investment decision, not just the legal mechanics that follow it.

Cross-Border Investment Complexity

International cross-border investment multiplies the variables of a domestic deal. Sector-specific ownership limits can cap or block foreign control entirely; capital controls and foreign-exchange rules govern whether funds can move in or out, and on what timeline; tax treatment turns on double-taxation treaties that may or may not exist between the two jurisdictions. Corporate-structure requirements, enforcement risk, and political-cycle timing each add a further layer.

Successful international investment treats these as a connected system rather than a checklist. A structure that minimizes tax may fail a regulatory test; an entry timed to a market opening may collide with a capital-control tightening. Foreign market entry is therefore less about any single rule than about sequencing, which is why investment success depends on a structured, market-specific cycle rather than a generic strategy.

Investment Cycle & Strategy

Our end-to-end FDI advisory services run the full cycle, from the first market decision through post-investment integration, with the same team accountable end to end.

  • Investment Strategy & Market Selection — We assess candidate markets against the client’s strategic objectives, regulatory eligibility, and capital-mobility constraints. This filters out markets that look attractive commercially but fail on access or repatriation before time is spent on them.
  • Due Diligence & Regulatory Assessment — We run legal, financial, and regulatory due diligence on the target or the entry pathway, mapped to the approvals each jurisdiction requires. The output tells the client what the investment is actually worth and what it will take to clear.
  • Deal Structure & Tax Optimization — We design the holding and entity structure to balance regulatory eligibility, tax efficiency, and capital flow. The structure chosen here determines what the investor can do — and repatriate — afterward.
  • Investment Documentation & Execution — We draft and negotiate the transaction documents, manage regulatory filings, and coordinate closing across authorities. Our role is to keep parallel approval tracks converging on the same date.
  • Post-Investment Integration — We support governance setup, ongoing compliance, and operational alignment after the capital lands. Most of the value an investor models at entry is captured — or lost — in this phase.

Where We Operate

China

Inbound: foreign investment is governed by the Foreign Investment Law and the Negative List (2024 edition), with most manufacturing now fully open and restrictions concentrated in defined sectors.

Outbound: Chinese ODI runs through NDRC and MOFCOM approval or filing plus SAFE foreign-exchange registration, with tighter review for sensitive sectors and large deals.

Explore our investment advisory in China

India

Inbound: FDI enters through the RBI’s automatic or government-approval routes, with sectoral caps that vary materially by industry.

Outbound: Indian overseas investment runs under the RBI’s Overseas Investment framework and FEMA.

Connect with an investment expert in India

Italy

Inbound: foreign acquisitions in strategic sectors are screened under the Golden Power regime; most targets are family-owned businesses.

Outbound: Italian companies investing abroad operate within EU free-movement-of-capital rules and the relevant treaty network.

Speak with an investment advisor for Italy

Vietnam

Inbound: foreign investment is governed by the Law on Investment and the Law on Enterprises, with conditional sectors and an investment-registration-certificate process.

Outbound: Vietnamese overseas investment requires an outward investment registration certificate and State Bank foreign-exchange approval.

Request investment advice in Vietnam

Why D’andrea & Partners

  • On the ground in each market — Our FDI and ODI advisory teams work from offices across China, Italy, India, and Vietnam, with locally qualified lawyers resident in each. Clients deal with the Foreign Direct Investment advisor who files with the local authority — SAMR, NDRC, RBI, or the Vietnamese licensing authority — not a coordinator in a third country.

    MEET OUR TEAM OF EXPERTS

  • Both directions of the flow — We advise inbound investors entering these markets and outbound investors leaving them, so a single deal is read from both sides of the border at once. Few investment advisors carry genuine experience on both the FDI and ODI sides.

  • The full investment cycle — As a foreign direct investment consultant, we stay on the file from strategy and market selection through execution and post-investment integration, rather than handing off at signing.

  • Integrated legal, tax, and structure — As a foreign direct investment law firm, we pair legal advice with in-house tax and corporate-structure capability, so the investment vehicle is optimized across all three dimensions under one engagement.

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