Argentina’s 2011 Land Law still caps foreign ownership of rural land at 15%, measured nationally, provincially and locally. Argentina foreign land ownership rules will not change this week. It also bars foreign ownership of land that contains or borders large permanent water bodies, and of land in border security zones. Frequently Asked QuestionsHas Argentina changed its foreign land ownership limit? Law 26,737 of 2011 still caps foreign ownership of rural land at 15%, measured nationally, provincially and locally.