Alabama restricts land acquisition by "foreign principals"
01 Aug 2023
The Alabama Property Protection Act, which entered into force on 1 August 2023, stipulates that no 'foreign principal' shall acquire title or a controlling interest in agricultural and forest properties, as well as any land or property in close proximity to military installations and critical infrastructure. For the purposes of this Act, a 'foreign principal' is defined as the government or an official of a foreign country of concern, a political party or its member, or any subdivision thereof from such a country, as well as any country or government included on a specific US Treasury Department sanction list related to this Act. The Act explicitly identifies the People's Republic of China, the Islamic Republic of Iran, the Democratic People's Republic of Korea, and the Russian Federation as foreign countries of concern.
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Type:
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Entry and establishment (Access to land)
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Industry:
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Not industry specific
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Primary (Agriculture, forestry and fishing)
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Sources:
