Finland is preparing to completely ban real estate transactions for Russian citizens in the spring
The Finnish government is preparing to completely ban real estate transactions for Russian citizens in the spring of 2024. This was stated by the country's Minister of Defense Antti Häkkänen, public broadcaster Yle reports.
Häkkänen said that he is working “on a complete ban” on real estate transactions by Russians in Finland. According to the minister, he is looking for “legal grounds.”
He also noted that Finland plans to tighten the conditions for issuing permits for real estate transactions to persons and companies from countries outside the EU and the EEA (European Economic Area). According to Häkkänen, “solutions will be found in the spring.”
On January 10, it was reported that Hyakkänen had banned three real estate transactions, including those involving Russian citizens.
Tightening restrictions for Russians and other representatives of countries outside the SES have been in force in Finland for several years. The latest tightening came into force in early 2023, giving the Ministry of Defense greater powers to investigate the origins of money and the financing of property transactions, as well as giving the government the right of first refusal to purchase property located within a radius of less than a kilometer from military or border patrol premises.
The Finnish Ministry of Defense announced on November 4, 2022 the creation of a special group to study additional restrictions on real estate transactions for citizens of countries outside the EEA, including their complete ban.
