\t\t\t\t\t \t\t\t\t\t \t\t\t\t\t The Senate is debating a reform bill filed by President Javier Milei which aims to protect private property, including a proposal to limit state expropriations and loosen restrictions on the purchase of rural land in Argentina by foreigners.<\/p>\n
The session began on Thursday afternoon, with ruling party La Libertad Avanza (LLA) confident that it has enough backing to pass.<\/p>\n
The bill was designed by Deregulation Minister Federico Sturzenegger with the goal of \u201celiminating illegitimate restrictions which limit the essential content of the right to property, strengthening its protection, and continuing to promote legal certainty,\u201d according to the proposal\u2019s argumentative section.<\/p>\n
The provision was initially scheduled to be debated in June, but was postponed after quorum was not reached. To ensure support, LLA modified the text around a dozen times after some ally blocs expressed concern over certain aspects of the proposal.\u00a0<\/p>\n
Some of the changes requested by the ally parties include keeping a registry of informal settlements aimed at protecting the rights of their inhabitants, which the government initially intended to eliminate, as well as eliminating LLA\u2019s proposal to create a protocol for \u201cexpress evictions.\u201d<\/p>\n
Rural land ownership One of the laws Milei wants to modify was approved in 2011 during ex-President Cristina Fern\u00e1ndez de Kirchner\u2019s government, which limits how much Argentine land can be owned by foreigners, in order to preserve sovereignty over natural resources.<\/p>\n
The law establishes that no more than 15% of the total of rural land at a national, provincial and municipal level can be in foreign hands, either physical people or companies. Out of that 15%, up to 30% can be owned by people or entities of the same nationality.<\/p>\n
It also limits the amount of land one foreign owner can purchase in certain areas, while also banning them from buying land with important water bodies in them, such as rivers, lakes and glaciers, as well as land located in border security areas.<\/p>\n
The changes LLA wants to \u201clift the general restrictions imposed for the purchase of rural land by foreign buyers,\u201d something which the 2011 law \u201ccriminalized,\u201d said presidential spokesman Adri\u00e1n Ravier in a press conference.<\/p>\n
\u201cIt is one thing to be a private investor, and another to be a foreign state,\u201d Ravier said.<\/p>\n
The reform aims to \u201creinforce the provisions of the National Constitution that state property is an inalienable right,\u201d something that has been undermined by \u201ca century of legal uncertainty,\u201d Ravier said.\u00a0<\/p>\n
\u201cArgentina grew in part thanks to those who came from other countries, invested, produced, and became property owners. It makes no sense to keep closing the door on them,\u201d the spokesman stated.<\/p>\n
\u201cThe law distinguishes between private investors and foreign governments, proposing to tighten controls on the latter, their companies, and the entities they control,\u201d he added.<\/p>\n
The original version of the bill maintained the prohibition on the purchase of rural land by foreign states, but added that \u201cexceptionally, they may own or possess rural land within the national territory in cases where the transaction does not pose a risk to national security, defense, and sovereignty,\u201d according to the Herald\u2018s sister publication \u00c1mbito.<\/p>\n
However, after ally parties protested, the final version clarified that foreign states and companies managed by other countries could not buy Argentine rural land, \u00c1mbito reported. In the latter case, the province where the land is located and the national government could still authorize it by what is known as \u201cadministrative silence,\u201d meaning that if they receive a request and they do not answer it with a rejection, it would be interpreted as a positive answer.<\/p>\n
Those would be the only two restrictions to such operations, lifting the restrictions on foreign investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Senate is debating a reform bill filed by President Javier Milei which aims to protect private property, including a proposal to limit state expropriations and loosen restrictions on the purchase of rural land in Argentina by foreigners. The session began on Thursday afternoon, with ruling party La Libertad Avanza (LLA) confident that it has […]<\/p>\n","protected":false},"author":10,"featured_media":91319,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[668,20388,61,59,1565],"tags":[8971,23427,89,86,4913],"class_list":["post-91318","post","type-post","status-publish","format-standard","has-post-thumbnail","category-federico-sturzenegger","category-foreign-investors","category-javier-milei","category-politics","category-senate","tag-federico-sturzenegger","tag-foreign-investors","tag-javier-milei","tag-politics","tag-senate"],"_links":{"self":[{"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/posts\/91318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/comments?post=91318"}],"version-history":[{"count":0,"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/posts\/91318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/media\/91319"}],"wp:attachment":[{"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/media?parent=91318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/categories?post=91318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/service.codeus.ca\/index.php\/wp-json\/wp\/v2\/tags?post=91318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}