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Africa: A continent on the rise
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Africa: A continent on the rise

By Marilize Jerling, MJD Law, Johannesburg, South Africa, 09 Jun 2023

Africa presents a wealth of opportunities for investors, boasting a youthful and rapidly expanding population, vast natural resources, a burgeoning middle class, and a commitment to economic reforms. With many African economies still in the nascent stages of development, it presents a unique opportunity for investors to tap into a market that is poised for growth and the potential to yield higher returns compared to established and mature markets. Thus, investing in Africa can offer a high growth potential and profitability, making it an attractive option for those seeking to diversify their portfolios beyond developed economies.

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Take aways on the government of Florida's prohibitions on acquisition of real property in Florida by foreign principals

Florida’s new law, the Conveyances to Foreign Entities Act (the "Act"), Sections 692.201 – 205, Florida Statutes, went into effect on July 1, 2023, and redefined the Florida real estate market for foreign purchasers from seven “countries of concern.” The Act requires those foreign purchasers to determine whether they are Foreign Principals prohibited from acquiring or owning real property in Florida, whether they are subject to registration requirements, or whether they are required to dispose of such real estate. Non-compliance renders the real property subject to forfeiture and sale of such real property (subject only to the rights and interests of bona fide lienholders) and risks daily fines of $1,000 and criminal penalties.

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