Finland has taken a firm step toward safeguarding its national security by proposing a law that would bar individuals from countries engaged in wars of aggression from purchasing property within its borders.
While the proposal does not explicitly mention Russia, Finnish Defence Minister Antti Hakkanen made it clear in a statement that Russian citizens and companies are the primary focus, given the current geopolitical climate.
The government has already intervened in several real estate transactions involving Russian buyers, citing security risks, and this legislation aims to close any remaining loopholes. To prevent evasions through proxy buyers, the bill includes a permit requirement, ensuring that property acquisitions remain transparent.
Exemptions will be made for those with permanent or long-term European Union residence permits issued by Finland, striking a balance between security and fairness. Lawmakers are set to vote on the proposal in the coming months, marking another significant move in Finland's evolving relationship with its eastern neighbour. For now, it remains to be seen how buyers and sellers will navigate the new rules.
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