Under a law passed earlier this year, citizens of Cuba, China, Venezuela, Russia, Syria, North Korea and Iran must register certain real estate with the Florida Department of Commerce by the end of January.
The consequences of not registering with the state include stiff fines of $1,000 per day and even property seizure.
The law applies only to nationals of “Countries of Concern” who are not permanent residents or citizens of the United States. Includes companies and government agencies from the listed countries.
“Protecting Floridians and Florida’s infrastructure from agents such as the Chinese Communist Party and other adversarial forces is critical to our state’s security,” Gov. Ron DeSantis said in a statement last month when the property registration portal launched. said.
“I am proud to have signed the nation’s strongest legislation to combat negative foreign influence.”
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Agricultural land must be legally registered with the state even if only a small number of shares are owned by nationals or business entities of the country. The new law would almost completely prohibit future purchases of agricultural land, with some exceptions for diplomatic or federally approved purposes.
Other real property owned by a “foreign principal” in any of the listed countries and located within 10 miles of a military installation or “critical infrastructure” within Florida must be registered with the Florida Department of Commerce .
In areas like South Florida, nearly the entire population center falls within its boundaries. Airports, ports, Army Corps of Engineers flood control infrastructure, and military bases are all included in the criteria.
Condemnation of “anti-China” sentiment
The most onerous restrictions on real estate ownership apply to Chinese nationals.
Opposition to this sweeping law sparked street protests in Miami. Major real estate groups have vowed to pressure the state government to repeal the law, fearing it will have a negative impact on the real estate industry and foreign investment, especially from China. Bloomberg Law recently reported that at least two large construction projects were halted under the law because they accepted Chinese capital to finance the projects.
China Daily, the Chinese Communist Party’s official propaganda paper, cited another law related to the University of Florida system that just went into effect, characterizing the law as part of Florida’s “anti-China” sentiment.
“We appreciate the Governor’s leadership on this issue of critical importance to both our national security and the security of Florida’s economy,” Florida Secretary of Commerce J. Alex Kelly said in a statement.
The legislation passed overwhelmingly in both the Florida House of Representatives and the Florida Senate. A small number of Democrats from both parties voted against the bill.
If a person or business acquires affected property before 31 July, the property must be registered by 31 December. However, it will only be considered late if it is not registered by January 31, 2024.
According to the law, residents of countries on the list who fail to register real estate with the state by the Jan. 31 deadline could be subject to a real estate lien of $1,000 per day. The law also allows Florida to seize real estate it deems owned in violation of the law.
The portal for property registration can be accessed here. FAQs about who needs to register and what they need to register can be found here.