Russian nationals have historically been significant South Florida buyers. The current sanctions environment has created real complexity, but legal pathways exist for non-sanctioned individuals. Understanding the landscape before acting is essential.
Guide for Russian nationals considering South Florida real estate. OFAC sanctions compliance, legal purchase pathways for non-sanctioned individuals, and what has changed since 2022 for Russian buyers.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) maintains the Specially Designated Nationals (SDN) list, which includes Russian individuals and entities subject to U.S. sanctions. Any U.S. person (including real estate agents, attorneys, and title companies) is prohibited from transacting with SDN-listed individuals. However, the SDN list covers specific individuals, not all Russian citizens. Russian nationals who are not on the SDN list and who are not acting as agents or proxies for sanctioned entities can legally purchase U.S. real estate, subject to full OFAC compliance review...