S576 prohibits corporations controlled by foreign adversaries, as defined in the bill, from acquiring any real property within the state. However, the restriction does not apply to individuals who are citizens of foreign adversaries but are also U.S. citizens or green card holders residing in the United States, provided they acquire limited real estate for residential, recreational, or commercial purposes as specified in the bill.
The South Carolina State Senate passed S576 on March 23, 2023 by a vote of 31 to 5. We have assigned pluses to the ayes because this is a great first step in preserving state sovereignty, Ultimately, selling property to non-American citizens is a sure way to lose sovereignty as a country and a state. This also compromises national security and impedes on citizens’ rights.