The Finnish government wants to completely prohibit Russians from buying real estate in the country

By TravelWiseJan 25, 2024 11:16 AMNews
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The Finnish government wants to completely prohibit Russians from buying real estate in the country
Soon, the Finnish government plans to ban Russians from buying real estate in the country. Source: Pexels

The Finnish government plans to completely ban real estate transactions for Russian citizens in a few months. This was stated by the country's Defense Minister Antti Häkkinen.

According to the official, they are currently "searching for the necessary legal grounds" for the introduction of this ban. It is also planned to investigate the real estate already sold to the Russians, the Helsingin Sanomat newspaper writes.

According to the minister, a decision of the Finnish government is enough to introduce new restrictions, and no legislative changes will be required through the parliament.

The Finnish Defense Minister also added that as part of the 12th package of EU anti-Russian sanctions, Helsinki has the opportunity to confiscate real estate and business owned by sanctioned persons.

It should be added that Finland tightened the conditions for selling property to foreigners in 2020. Persons who are not citizens of the European Union or the Eurozone must obtain permission from the Ministry of Defense to enter into a transaction. This rule also applies to companies and organizations located within the EU but with at least 10% ownership outside the EU.

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