No, not this type of GTO; the FinCEN Geographic Targeting Orders that require real estate purchasers in Miami, New York, Texas, California & Hawaii who pay cash and use shell companies to disclose the identities of the Beneficial Owners of those corporations. US Senator Marco Rubio wants them extended to cover the entire United States; He has a valid point.
We salute him, and support any bona fide effort to crack down on foreign nationals laundering criminal proceeds through American real estate investments. According to a report, cash sales using shell companies declined 95% when the GTO was placed into effect in Miami-Dade County. This isn't about privacy, it is about money laundering.
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