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Senator: New Florida law restricting foreign ownership of real estate not meant to impact EB-5

Florida recently enacted SB 264, a law intending to restrict foreign ownership of real property by individuals and entities from specific countries, including China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. EB-5 stakeholders expressed concern regarding the potential negative impact on EB-5 investment in Florida. Senator Collins, the bill's sponsor, assured EB-5 stakeholders that is not the intention of the legislation: "The EB-5 program and the resulting investments have proved to be beneficial to the state of Florida, and in no way was my legislation intended to impact this program and the resulting investments." 

See the IIUSA article

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