Finland limits real estate transactions for Russians due to national security threats
Finland's Minister of Defense Antti Häkkänen (photo: Getty Images)
The Finnish government has submitted a bill to parliament to restrict real estate transactions for Russian citizens, citing national security concerns, according to the official website of the Finnish Ministry of Defense.
He emphasized that the bill was introduced to reduce any potential security risks for Finns.
According to the website, the ban on purchasing real estate will reduce the number of applications for permits from citizens of the affected country, providing the authorities with more resources to process permits and conduct more thorough investigations of cases.
At the same time, the proposed provision will not apply to individuals with a permanent residence permit in Finland or an equivalent EU residence permit issued by the Finnish state. In this case, the existing permit law will apply. This means that a person will only be able to purchase real estate in Finland if the Ministry of Defense grants permission for the acquisition of the property.
Furthermore, the Finnish authorities aim to reduce the risk of circumventing the law in real estate transactions through the use of proxy individuals.
The bill proposes lowering the requirements under which the Ministry of Defense has the right to investigate if there are suspicions of using a proxy agent.
Information exchange between government authorities will also be further improved.
Finland has taken a firm stance against Russia. Recently, the President of Finland, Alexander Stubb, stated that Russian President Vladimir Putin should be forced into negotiations, as US President Donald Trump does, rather than being coaxed into them.
According to Stubb, Putin only understands tough rhetoric, and that’s how he should be addressed at this point. He is convinced that there are no risks in discussing peace in Ukraine without Ukraine's direct participation.
