Finland's Defense Ministry is reviewing Russian-owned real estate transactions that could compromise national security, particularly concerning individuals without EU or EEA citizenship.
Three months after Finnish authorities warned that real estate owned by Russians posed a threat to national security, the Defense Ministry announced measures to review property transactions in Finland concerning certain individuals. This primarily targets citizens who do not hold passports from European Union or European Economic Area (EEA) countries, including Russians. Finnish Defense Minister Anti Hekanens reported that Helsinki is exploring the possibility of retrospectively intervening in real estate transactions involving these individuals.
The proposed measures could apply to all types of real estate and transactions concluded over the past two decades. The initiative aims to ensure national security and establish more effective oversight of residential property transactions in the country. Minister Hekanens highlighted that Finland has been overly naive regarding property oversight in the past 20 years, leading to a significant increase in potentially risky properties.
This announcement reflects Finland's ongoing concerns regarding Russian influence and activities following the recent geopolitical tensions. As the country reassesses its stance on property ownership by foreigners, particularly Russians, it indicates a shift towards stricter regulations to safeguard national interests and uphold safety within its borders.
