Finland is preparing to completely ban real estate transactions for Russian citizens in the spring.
This information was announced by the head of the Ministry of Defense of Finland, Antti Häkkänen.
How the ban will work
According to the Finnish TV channel, Hyakkänen said that he is working on introducing a complete ban on real estate transactions for Russian citizens in Finland and is looking for legal grounds.
According to the minister, Finland also intends to tighten the conditions for issuing permits for real estate transactions to individuals and companies from countries outside the European Union and the European Economic Area.
The head of the Finnish Ministry of Defense noted that solutions will be found in the spring.
On January 10, it was reported that the Finnish Minister of Defense banned three real estate transactions, including those involving Russians.
Tightening rules for citizens of Russia and countries outside the SES have been in effect in Finland for several years.
The latest tightening, which came into force at the beginning of last year, expanded the powers of the Ministry of Defense to investigate the origin of funds and financing of real estate transactions and gave the state the right of first refusal to acquire real estate located within a radius of less than 1 km from the premises of the Armed Forces or the border service.
On November 4, 2022, the Finnish Ministry of Defense announced the creation of a special group to study additional restrictions on real estate transactions for citizens of countries outside the SES, including their complete ban.
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