The Finnish Defense Ministry Wants To Ban Russians From Buying Real Estate In The Country

It is assumed that the ban will apply to both individuals and legal entities. The Finnish authorities are also preparing amendments that will simplify the procedure for confiscation of real estate from citizens of the Russian Federation for non-payment of utility bills

Finland wants to ban Russians from buying real estate in the country. A working group of the Finnish Ministry of Defense has taken the appropriate initiative. It is assumed that the ban will apply to both individuals and legal entities.

Earlier it was reported that the Finnish authorities are preparing amendments that will simplify the procedure for confiscation of real estate from Russian citizens who are unable to repay utility bills.

However, according to Finnish journalist Vladimir Gusatinsky, if we are talking about houses and dachas belonging to Russians, then after their forced sale for debts, the owner will receive compensation:

Vladimir Gusatinsky, a Finnish journalist, “Objects of confiscation are always sold at auction, and when sold at auction, their price even exceeded the average estimate, the market price. In any case, the debts will be repaid, and the difference will be returned to the owner. The fact is that basically all property owners have an account with a Finnish bank, from which all current expenses for this property are paid, including this account was used when buying this property. That is, it was opened, money was transferred to it, after which the amount was transferred under the contract of sale for real estate. Almost all real estate owners necessarily have an account in a Finnish bank, at least until recently there was. At some point, some banks decided to freeze these accounts, but in any case it was a decision at the board level of the bank, which many were able to challenge. What prevents him from paying for communal services from this account? There are a number of obstacles, for example, if an agreement on automatic collection is not concluded, and such an agreement is always concluded separately, in person. For the last four years, many simply have not had the opportunity to come and sign such an agreement. Further, many had this agreement, but the funds in the bank account ran out at some point, four years is a long time, so many are starting to face these problems only now. There would be money, but you can withdraw it, there are different ways to withdraw funds, but as far as I understand, up to 100 thousand euros in the case of the sale of your own real estate will allow you to withdraw one way or another. The second option is to open an account in a country to which transfers are still possible, which is not subject to sanctions (Kazakhstan, Georgia), and transfer money to your account in this country.”

Returning to the initiative to ban the sale of real estate to Russians, the authors of the idea clarified that it would not apply to Finnish citizens with dual citizenship.

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