Did You Know Singapore Owns 5% Of Michigan’s U.P.?

I find it odd that the United States allows other countries to purchase portions of its land, ports, or key industries. Singapore happens to own 5% of the Upper Peninsula.

American Land Owned by Other Countries

I understand that when someone owns a large amount of land in the U.S. and decides to sell it, they have the right to sell it to the highest bidder. In cases where the highest bidder is another country. This presents both a potential national security risk and a missed opportunity for American businesses.

I was very uncomfortable when I learned China was allowed to purchase nearly 350,000 acres of agricultural land in the U.S. They own land in Missouri, North Carolina, Texas, Utah, and Virginia. Given espionage concerns involving China, this raises national security red flags.

Canada is leading as the largest foreign landowner. Canada owns the largest amount of U.S. land, including agricultural land and other properties. Other countries that own large pieces of land and industry in the U.S. are the Netherlands, Italy, the United Kingdom, and Germany.

Read More: Avoid This $750 Mistake at the Canadian Border

There is another country that owns a significant amount of land in Michigan's Upper Peninsula.

Singapore holds 5% of Michigan’s Upper Peninsula

According to Bridge Michigan, the Government of Singapore Investment Corporation owns more than 540,000 acres of forestland in the U.P. Singapore is the largest known foreign owner of agricultural land in Michigan. This ownership was initially obscured by a complex corporate structure. The Rohatyn Group, a global private equity firm that manages the land, uncovered the three-tier ownership structure and disclosed the information following federal regulations.

Singapore is actively involved in timber harvesting in the Upper Peninsula. The Michigan House has proposed legislation to bar foreign countries of concern, such as China, Cuba, Iran, North Korea, and Russia, from purchasing agricultural land in the state.

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Singapore is not on the list, but it is troubling that they hid their true ownership using a series of shell companies.

👇BELOW: 10 Facts About Michigan's U.P. You Probably Didn't Know👇