Foreign Ownership Disclosure Act of 1989

Foreign Ownership Disclosure Act of 1989 - Requires any foreign person who holds or acquires a significant interest in a U.S. property or a controlling interest in a U.S. business enterprise to register with the Secretary of Commerce. Requires that any changes in such information be disclosed in an amended registration within a limited period of time. Sets forth penalties for the failure to comply with such registration requirements.

Defines a "significant interest" in U.S. property as more than five percent of the total equity or ownership interests in assets or real property having a market value or gross sales in excess of specified amounts. Defines a "controlling interest" in a U.S. business enterprise as more than 25 percent of the total equity or ownership interests in a business enterprise having assets or gross sales in excess of specified amounts.

Directs the Secretary to submit an annual report to the President and the Congress, concerning: (1) the extent and effects of foreign investment in the United States; and (2) the effectiveness and efficiency of the registration and reporting requirements of this Act.

Directs the Secretary to compile a registry of foreign investments in the United States. Limits access to the information in such registry.