Clifford Chance
US Restrictions on Foreign Ownership Analysis
August 30, 2024
The surge in foreign ownership of real estate and agricultural land has sparked growing concerns, prompting both federal and state lawmakers to advocate for enhanced regulations and monitoring measures. This burgeoning interest in restricting foreign ownership is reflected in the increasing number of states implementing laws aimed at limiting the acquisition and transfer of, and investment in, U.S. real estate, particularly private agricultural land, by foreign individuals, entities, or governments. The following attached chart provides an introductory summary of all 50 state's constitutional and statutory provisions, along with summaries of the restrictions, restricted groups, and any applicable exceptions. This chart was compiled as of February 22, 2024 and has been updated as of August 7, 2024.
Over the past six months, our analysis has been updated to reflect the continuing trend of expanding restrictions on foreign ownership of property. Multiple states are actively moving towards creating or broadening existing limitations. Notably, new restrictions have been established in Georgia, Nebraska, and Wisconsin; while states such as Iowa, Missouri, Nebraska, Oklahoma, and South Dakota have seen an expansion of their existing restrictions. A particularly interesting development is Wyoming's newly granted authority to investigate conveyances involving critical infrastructure and designated countries. The updated chart serves as a helpful guide through the rapidly evolving landscape of increasing regulatory measures being adopted at the state level, highlighting the dynamic nature of property ownership laws in the United States.
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U.S. Restrictions on Foreign Ownership Analysis
24 February 2024
