5/19/2023 0 Comments Kingdom new lands investor![]() FIRRMA strengthens and modernizes CFIUS to address national security concerns more effectively, including by broadening the authorities of the President and CFIUS to review and to take action to address any national security concerns arising from certain non-controlling investments and real estate transactions involving foreign persons. THE FOREIGN INVESTMENT RISK REVIEW MODERNIZATION ACT OF 2018 (FIRRMA)įIRRMA was signed into law on August 13, 2018. The Executive Order elaborates and expands on the existing list of factors that CFIUS considers, as appropriate, when reviewing transactions for national security risks, and describes potential national security implications in key areas. On September 15, 2022, President Biden issued Executive Order 14083 reflecting the evolving national security threat landscape and underscoring the critical role of the Committee on Foreign Investment in the United States in responding to new and emerging threats and vulnerabilities in the context of foreign investment. Provisions Pertaining to Certain Transactions by Foreign Persons Involving Real Estate in the United States (31 C.F.R. ![]() Written comments must be received by June 5, 2023. Department of the Treasury, Attention: Meena Sharma, Deputy Director, Office of Investment Security, 1500 Pennsylvania Avenue, NW, Washington, DC 20220. Interested persons may submit comments electronically through the Federal Government’s eRulemaking Portal at or by mailing comments to: U.S. § 802.227 and add eight military installations to the list at appendix A in the rule that implements the real estate provisions of Section 721 of the Defense Production Act of 1950, as amended. On May 5, 2023, the Department of the Treasury issued a notice of proposed rulemaking in the Federal Register that would amend the definition of military installation at 31 C.F.R. PROPOSED RULE MODIFYING PROVISIONS PERTAINING TO CERTAIN TRANSACTIONS BY FOREIGN PERSONS INVOLVING REAL ESTATE IN THE UNITED STATES (MAY 2023) ![]() CFIUS operates pursuant to section 721 of the Defense Production Act of 1950, as amended (section 721), and as implemented by Executive Order 11858, as amended, and the regulations at chapter VIII of title 31 of the Code of Federal Regulations. ![]()
0 Comments
Leave a Reply. |