Are Foreign Principals Permitted to Own Property Near Military Bases?
Senate Bill 264 bars foreign principals from buying real property within 10 miles of a military installation or critical infrastructure. Owners from before July 1, 2023 must register with the DEO.
As per Section 6 of Senate Bill 264, foreign principals are prohibited from buying real property within a 10-mile radius of military installations or critical infrastructure facilities. Existing foreign owners can retain their properties if owned before July 1, 2023, but they must register with the Department of Economic Opportunity (DEO) by December 31, 2023.
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