News & Analysis as of

Foreign Entities New Legislation

Eversheds Sutherland (US) LLP

Recent amendment implements important changes to foreign land ownership in Georgia

Effective on July 1, 2024, Senate Bill 420 (Amendment) amended Chapter 1 of Title 2 of the Official Code of Georgia Annotated and was codified in O.C.G.A. § 2-1-7. The Amendment prohibits nonresident aliens who are either...more

Barnea Jaffa Lande & Co.

Regulation of Payment Services Law Comes into Effect

On June 6, 2024, the Regulation of Payment Services and Payment Initiation Law came into effect. Relevant entities may now submit license applications for providing payment and payment initiation services....more

Steptoe & Johnson PLLC

Oklahoma Limits Foreign Property Ownership, Requires Affidavit of Compliance for Deeds

Steptoe & Johnson PLLC on

On November 1, 2023, a statutory amendment went into effect in Oklahoma which requires an affidavit be completed and attached as an exhibit to all deeds filed for record in any county in the state certifying compliance with...more

DarrowEverett LLP

What Florida’s SB 264 Means for Foreign Ownership of Real Property

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This past July, Florida became the latest state to adopt legislation with the goal of restricting foreign governments and individuals from real property ownership. Florida’s controversial new bill, SB 264, Interests of...more

Goodwin

Far Beyond Real Estate: The Real Impact of Florida’s SB 264

Goodwin on

On May 8, 2023, Florida Gov. Ron DeSantis signed into law Senate Bill 264: Interests of Foreign Countries (SB 264), effective July 1, 2023. The law may affect not only traditional real property owners and investors but also...more

McDermott Will & Emery

Florida Passes Law Restricting Foreign Ownership of Real Estate

McDermott Will & Emery on

The Florida Legislature recently passed Senate Bill 264 (SB 264), which Governor Ron DeSantis signed into law on May 8, 2023. SB 264 notably presents several new restrictions on persons or entities from certain foreign...more

Womble Bond Dickinson

New PAIP Act Requires U.S. President to Annually Report to Congress on Foreign Nationals Involved in the Theft of Trade Secrets...

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The Protecting American Intellectual Property Act of 2022 (“PAIP”) became law on January 5, 2023, establishing a new enforcement procedure to deter the theft of trade secrets from the United States by foreign actors. PAIP...more

Fish & Richardson

President Biden Signs "Protecting American Intellectual Property Act of 2022" Into Law

Fish & Richardson on

On January 5, 2023, President Biden signed into law the "Protecting American Intellectual Property Act of 2022." Protecting American Intellectual Property Act of 2022 (“PAIPA”), Pub. Law 117-336, 88 Fed. Reg. 2229 (Jan. 13,...more

Snell & Wilmer

California Corporate Conversion Statute Expanded

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On September 2, 2022, California Governor Gavin Newsom signed SB 49 into law, amending California Corporations Code §1151 (Cal. Corp. Code §1151) to allow domestic corporations to convert into foreign entity types as of...more

Dorsey & Whitney LLP

Congress, President Align on Powerful New U.S. Intellectual Property Protection Law

Dorsey & Whitney LLP on

On January 5, 2023, President Biden ushered in the new year by signing into law the Protecting American Intellectual Property Act of 2022 (“PAIPA”), Pub. Law 117-336.1 PAIPA was passed with considerable bipartisan support in...more

Sheppard Mullin Richter & Hampton LLP

Potential Sanctions for Alleged Intellectual Property Theft on the Horizon?

On January 5, 2023, President Biden signed into law S. 1294, the “Protecting American Intellectual Property Act of 2022”. The Act requires the president to report to Congress and impose sanctions on any foreign person or...more

Miller Canfield

Canada’s Foreign Buyers Ban: What You Should Know About the Ban on Non-Canadians Purchasing Residential Property in Canada

Miller Canfield on

The government of Canada recently passed legislation that effectively bans non-Canadian individuals and corporations from purchasing residential real estate under the Prohibition of Purchase of Residential Real Estate by...more

Foley Hoag LLP

President Biden Signs the Protecting American Intellectual Property Act of 2022

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On January 5, 2023, President Biden signed the Protecting American Intellectual Property Act of 2022 (“PAIP Act”) into law. The law is designed to shield American businesses from trade secret theft by foreign actors....more

Venable LLP

Long-Awaited Protections for Intellectual Property Could Have Significant Implications for Federal Government Contractors

Venable LLP on

The Protecting American Intellectual Property Act of 2022—passed by the Senate on December 20, 2022 and signed by the President on January 5, 2023—aims to protect American IP interests by imposing sanctions on certain foreign...more

Houston Harbaugh, P.C.

Congress Passes The Protecting American Intellectual Property Act of 2022

Houston Harbaugh, P.C. on

Pittsburgh, Pennsylvania Trade Secret and DTSALaw® | Lawyers | The Protecting American Intellectual Property Act | 2022 | S. 1294- In furtherance of the U.S. Government’s effort to protect American intellectual property, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Expands Enforcement Measures To Address Fraud and Money Laundering

On 22 September 2022, the U.K. government introduced the Economic Crime and Corporate Transparency Act 2022. The new bill is currently navigating its way through the U.K. Parliament and is likely to receive royal assent in...more

Morrison & Foerster LLP

Biden to Sign CHIPS Act, Including Brand New Investment Tax Credit for Semiconductor Facilities

On July 28, 2022, Congress passed the CHIPS Act (CHIPS). Among other things, CHIPS adds Section 48D to the Internal Revenue Code, which provides a new advanced manufacturing investment tax credit for investments in...more

Latham & Watkins LLP

The Economic Crime (Transparency and Enforcement) Act 2022 Receives Royal Assent

Latham & Watkins LLP on

New legislation introduces further sanctions powers and aims to tackle financial crime by revealing identities of overseas beneficial owners of UK property. Following the UK government’s successive sanctions packages,...more

McDermott Will & Emery

New French Decree, Ministerial Order Clarify Foreign Investment Authorisation Rules

McDermott Will & Emery on

Dated 31 December 2019, the legislation updates and elucidates the process for obtaining foreign investment authorisations in France. The new provisions go into effect on 1 April 2020....more

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