News & Analysis as of

Real Estate Investments Foreign Ownership

Goodwin

IRS Finalizes Regulations for Domestically Controlled REITs and other Qualified Investment Entities

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On April 24, 2024, the U.S. Treasury Department and the Internal Revenue Service released final regulations (the “Final Regulations”) regarding when REITs and certain regulated investment companies investing primarily in...more

Bilzin Sumberg

Final Treasury Regulations Implement a 10-Year Transition Rule for Existing Domestically Controlled REITs

Bilzin Sumberg on

The U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) have recently issued final regulations (the “Final Regulations”) that significantly impact the determination of whether a real...more

BCLP

Changes to the Register of Overseas Entities Regime - the Impact of the Economic Crime and Corporate Transparency Act 2023 on Real...

BCLP on

The Economic Crime and Corporate Transparency Act 2023 (ECCTA) received Royal Assent on 26 October 2023, with the provisions of ECCTA to be brought in by secondary legislation in stages throughout 2024 and 2025....more

International Lawyers Network

Buying and Selling Real Estate in Singapore (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER SINGAPOREAN LAW - INTRODUCTION - There are two systems of land registration in Singapore: registration under the Registrations of Deeds Act, known as “unregistered land”,...more

Faegre Drinker Biddle & Reath LLP

Influx of State Statutes Regulating Foreign Ownership of U.S. Real Estate

As we enter the new year, it is a good time to reflect on and consider trends and developments from 2023. One such development that we find important and will be keeping an eye on in 2024 is the proliferation of state...more

Keating Muething & Klekamp PLL

Emerging State Laws Restricting Foreign Ownership of Real Estate

The Office of Foreign Assets Control (“OFAC”) is an arm of the U.S. Department of Treasury, tasked with administering and enforcing various economic and trade sanctions intended to further U.S. foreign policy and national...more

K&L Gates LLP

Real Estate Beneficial Ownership Regulatory Alert: Florida Restricts Real Estate Ownership by Individuals and Entities From...

K&L Gates LLP on

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

K&L Gates LLP

UK Real Estate Ownership and the Implications of the Economic Crime (Transparency and Enforcement) Act

K&L Gates LLP on

On 2 August 2023, the Register of Overseas Entities (ROE) update process went live. UK Companies House issued guidance on the requirements overseas entities will have to adhere to in their annual update of the ROE. Our...more

Bilzin Sumberg

Enter the Fray: Florida Restricts Certain Foreign Ownership of Real Property

Bilzin Sumberg on

Lawsuit Against Florida Law Restricting Certain Foreign Ownership of Real Property Set for Hearing This Week, DOJ Supports but 12 States Oppose - On July 1, 2023, SB 264 (Chapter No. 2023-33, Laws of Florida) took effect....more

BCLP

Register of Overseas Entities - Duty to File Update Regardless of Any Change - Process and Implications

BCLP on

The Register of Overseas Entities launched nearly a year ago on 1 August 2022. The Register was established as a measure to increase transparency in the ownership of overseas entities that own UK land....more

Bilzin Sumberg

2023 Florida Legislation On Real Estate Deeds

Bilzin Sumberg on

The Florida Legislature passed numerous bills primarily affecting real estate in the 2023 session. Most notably may be SB 15, the so-called SB 4-D Glitch Bill that deals with inspections and reserves for condominiums. This...more

Awatif Mohammad Shoqi Advocates & Legal...

What are the conditions to purchase a property in the UAE?

The UAE is a popular destination for real estate investment due to its booming economy, attractive tax benefits and stable political environment. Purchasing a property in the UAE can be an attractive investment opportunity...more

Womble Bond Dickinson

Non-U.S. Citizens and Foreign Adversaries: Proposed South Carolina Legislation With Potential to Significantly Impact Foreign...

Womble Bond Dickinson on

A bill pending in the South Carolina House of Representatives proposes to significantly restrict land ownership in the state by certain foreign citizens or companies controlled by nations deemed adverse to U.S. security...more

International Lawyers Network

Buying and Selling Real Estate in Singapore (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER SINGAPOREAN LAW - INTRODUCTION - There are two systems of land registration in Singapore: registration under the Registrations of Deeds Act, known as “unregistered land”,...more

Miles & Stockbridge P.C.

The Mandatory Federal Reporting Requirement on Foreign Ownership of U.S. Businesses Few Know About

Many U.S. enterprises and U.S. real estate holdings have some degree of foreign ownership. Federal law requires the filing of detailed reports on foreign ownership every five years by U.S. enterprises “in which a foreign...more

Stikeman Elliott LLP

Canada’s Two-Year Prohibition on Foreign Purchases of Residential Property: What You Need to Know

Stikeman Elliott LLP on

In response to rising housing prices, Parliament passed the Prohibition on the purchase of residential property by non-Canadians Act (the “Act”) in 2022. Intended to be in effect during the calendar years 2023 and 2024 only,...more

Dorsey & Whitney LLP

The Economic Crime (Transparency and Enforcement) Act 2022: New Rules for Overseas Entities Owning Land in the UK

Dorsey & Whitney LLP on

The Economic Crime (Transparency and Enforcement) Act 2022 (“Act”) introduces new measures to tackle illicit wealth in the UK property market. The Act is comprised of three parts and Part 1 of the Act (“Part 1”), which became...more

Goodwin

What to Know: New Register for Overseas Entities Owning UK Property Launched

Goodwin on

​​​​​​​As anticipated in our previous article on 7 March 2022, Companies House launched the new register of overseas entities (the “ROE”) pursuant to the Economic Crime (Transparency and Enforcement) Act 2022 (the “Act”), so...more

Hogan Lovells

UK register of beneficial owners goes live

Hogan Lovells on

After some years in the making, the UK register for overseas entities finally opened at Companies House on Monday 1 August 2022. Overseas entities that own registered land in the UK are now required to register at Companies...more

Latham & Watkins LLP

New Disclosure Requirements Imposed on Overseas Entities Holding UK Property

Latham & Watkins LLP on

A new Register of Overseas Entities, expected this summer, requires disclosure of beneficial owners. The UK government has introduced legislation1 in Parliament to pave the way for the launch of the new Register of...more

Morrison & Foerster LLP

Register of Overseas Entities Owning UK Property – Key Requirements

Executive Summary: the 30-second brief- The enactment of the Economic Crime (Transparency and Enforcement) Act 2022 means that clients will need to review their property portfolio. Where overseas entities are the...more

Proskauer Rose LLP

United Kingdom Legislates Against Opaque Overseas Ownership of Property

Proskauer Rose LLP on

With sanction regimes taking centre-stage in the global response to the Russian invasion of Ukraine, transparency of property ownership has accelerated to become a priority of the United Kingdom’s government. On 15 March...more

K&L Gates LLP

Foreign Ownership of UK Real Estate Under Scrutiny

K&L Gates LLP on

The UK Government has recently introduced the Economic Crime (Transparency and Enforcement) Bill 2022 (the Bill). Amongst other objectives, the Bill proposes the setting up of a register of overseas entities and their...more

International Lawyers Network

Buying and Selling Real Estate in Singapore (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER SINGAPOREAN LAW - INTRODUCTION - There are two systems of land registration in Singapore: registration under the Registration of Deeds Act, known as “unregistered land”, and...more

International Lawyers Network

Buying and Selling Real Estate in Romania (Updated)

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

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