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Florida enacted Senate Bill (SB) 264 in May 2023, creating Chapter 692, Florida Statutes (the Act), to limit select persons from "foreign countries of concern" from owning, having a controlling interest in or acquiring an...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER LATVIAN LAW - I. STANDARD FORMS OF AGREEMENT - A. Offer to Purchase sets forth Buyer's offer of price and date for closing. Seller may accept or reject. B. The purchase...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HUNGARIAN LAW- 1. Types of real estate transactions - In the Hungarian market, the typical types of real estate transactions can be differentiated as follows. 1.1 Transfer...more
As previously reported, regulations and restrictions on Foreign Direct Investment (“FDI”) have expanded quickly in the United States and in many of its trading partner countries around the world. FDI has been further...more
This past July, Florida became the latest state to adopt legislation with the goal of restricting foreign governments and individuals from real property ownership. Florida’s controversial new bill, SB 264, Interests of...more
SUMMARY - On 17 August, a Florida judged denied a bid by four Chinese citizens and a real estate brokerage firm for summary judgment to block enforcement of Senate Bill 264. Effective 1 July 2023, Senate Bill 264 (codified...more
The Florida Legislature recently passed Senate Bill 264 (SB 264), which Governor Ron DeSantis signed into law on May 8, 2023. SB 264 notably presents several new restrictions on persons or entities from certain foreign...more
With significant press coverage, Florida Gov. Ron DeSantis recently announced that the state would limit the ability of certain non-U.S. persons, businesses, and governments from acquiring agricultural land in Florida....more
Fufeng USA Inc. (Fufeng USA), a subsidiary of Chinese food manufacturer Fufeng Group Ltd. (Fufeng Group), announced on Dec. 13, 2022, that after an "extensive two-phase review," the Committee on Foreign Investment in the...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ROMANIAN LAW - I. Types of Real Property Transactions - A. Purchase of an undeveloped plot of land (agricultural); B. Purchase of a buildable plot of land (with or without...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER LATVIAN LAW - I. STANDARD FORMS OF AGREEMENT - A. Offer to Purchase sets forth Buyer’s offer of price and date for closing. Seller may accept or reject. B. The purchase...more
Real estate developers in Florida are buying and improving rural land at a record pace. In many cases, this land has been devoted to purposes which resulted in the land being categorized as agricultural for real estate tax...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER LATVIAN LAW - 1. Types of real estate - 1.1. Land estate - Consists of one or several land plots. 1.2. Land and building estate - Consists of one or several land...more
The Ontario government announced a new proposal to impose a 15 percent tax on purchases of residential real estate by foreign buyers as part of its Fair Housing Plan. Similar to the foreign buyer tax enacted last year by the...more
A non-U.S. company that buys or sells U.S. real estate that is or once was used for agricultural purposes may face reporting requirements in connection with such transactions. These reporting obligations might apply whether...more