New Legislation Restricts Foreign Buyers In Florida
On July 1, 2023 Florida Senate Bill 264 goes into effect, prohibiting Chinese citizens, along with foreign nationals of Russia, Cuba, Venezuela, Iran, Syria and North Korea, from owning or acquiring agricultural land, or any interest in real property within 10 miles of a military installation or critical infrastructure in the state. Critical infrastructure includes facilities with fences or barriers to exclude unauthorized persons, such as airports, seaports, electrical power plants or water treatment facilities. Additionally, Chinese individuals who do not have U.S citizenship or lawful permanent resident status are prohibited from owning Florida property altogether. Chinese visa holders are allowed to own one home that is not within 5 miles of any military installation, but must complete a special registration with the state government.
Sign up for emails for updates on this and more Florida real estate news...
Categories
Recent Posts
