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Finland wants to ban Russians from buying property
The Finnish Ministry of Defence presented a bill today that would prohibit the purchase of real estate by citizens and companies from Russia and other countries that pose a threat to national security.
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The bill — which now goes to the Finnish parliament for a vote — does not mention Russia by name, but it was prompted by concerns among officials about potential security risks posed by property purchases by entities from that country.
The proposal states that no real estate acquisition permits will be granted to individuals from countries that the European Union (EU) has determined have violated the territorial integrity, sovereignty and independence of another country and that could threaten Finland’s security.
The ban would also apply to companies domiciled in such countries or that are controlled by a citizen or company from such a country.
According to the working group that drafted the bill, the main threat posed by foreign ownership and control of real estate is the possibility that it could be used to prepare hostile actions against the interests of Finnish society.
Once in force, the law would not affect EU or European Economic Area citizens or third-country nationals — including Russians — who have a permanent residence permit in Finland.
The Finnish government is also looking at options to improve oversight of foreign ownership and enable intervention in cases where property is crucial to the security of the population.
See Also: Cyberattack compromises data of thousands of Helsinki residents (Portuguese version)
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