Florida Governor Ron DeSantis said he was cracking down on foreign countries of concern when he recently launched the SecureFlorida Portal, where foreign principals from foreign countries of concern must register property as required by sections 692.203 and 692.204, Florida Statutes.
These registration requirements for foreign principals were created by Senate Bill 264, signed by Governor DeSantis in May as part of the strongest legislation in the nation counteracting the malign influence of the People’s Republic of China and other countries of concern.
Section 692.204 limits the ability of individuals and businesses affiliated with the People’s Republic of China or the Chinese Communist Party to acquire real property in Florida and requires the registration of all real property owned within the state. Under section 692.203, foreign principals from other countries of concern may acquire property located within 10 miles of a military installation or critical infrastructure facility only under limited circumstances and must register such property with FloridaCommerce.
“Protecting Floridians and Florida’s infrastructure from agents like the Chinese Communist Party and other foreign adversaries is important to our state’s security,” said Republican Governor Ron DeSantis. “I am proud to have signed the strongest legislation in the nation to fight back against foreign malign influence.”
“I’m grateful for the Governor’s leadership on this issue that is critical to both our national security and the security of Florida’s economy,” said Florida Secretary of Commerce J. Alex Kelly. “Under Governor DeSantis’s leadership, Florida is in the driver’s seat and our Freedom First policies are setting the stage for a robust and efficient supply chain.”
If a foreign principal owned or acquired an interest in real property before July 1, 2023, then the foreign principal must register the property by December 31, 2023. A foreign principal that fails to timely file a registration with FloridaCommerce is subject to a civil penalty of $1,000 for each day the registration is late. Entities and property owners can register a property through the SecureFlorida portal here.
Senate Bill 264 is available here.
