In a move aimed at tightening national security, Finland has introduced new legislation in parliament that would prevent citizens from countries engaged in aggressive warfare, particularly Russia, from purchasing real estate in the country. The bill targets foreign acquisitions that could be exploited to undermine Finland’s security and stability.
Security Concerns Drive Legislation
Defense Minister Antti Hakkanen emphasized the importance of the bill in a statement on X, stating, “The objective of this bill is to restrict the possibilities of Russians to buy real estate in Finland. Russia poses a persistent security threat in Europe, and real estate can be exploited to exert hostile influence.” He explained that such transactions could jeopardize Finland’s economy, infrastructure, and security, potentially compromising the country’s ability to protect its citizens.
Hakkanen further highlighted that the new law would provide a clearer and more streamlined framework for preventing real estate transactions that may be linked to hostile entities. Under current law, Finnish authorities can block property sales if a threat is detected, but the new legislation is designed to simplify and expedite this process.
A History of Suspended Transactions
In recent years, Finland has already taken steps to limit foreign ownership of property due to security concerns. In 2024, the Ministry of Defense intervened to block several real estate transactions involving individuals with ties to Russia. With the introduction of this bill, the government aims to formalize and expand its ability to manage such cases.
The proposed legislation is expected to be debated in the Finnish parliament this spring, with the government hopeful that it will be enacted soon after. Additionally, another law is in the works that would give Finnish authorities the power to review previously sold properties to ensure compliance with security regulations.
Exemptions and Future Steps
According to public broadcaster YLE, the new restrictions will not apply to Finnish citizens or permanent residents, who will still be free to engage in property transactions. However, foreign nationals from countries engaged in warfare, particularly Russia, will face more stringent scrutiny when it comes to purchasing real estate.
The Finnish government continues to prioritize national security, with the new law aligning with broader efforts to protect the nation from potential foreign threats.
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