Latvia to Restrict Property Purchases by Russians
Latvia’s decision comes following the example of Finland, which last month announced that it is preparing a draft legislation that would ban Russians from buying real estate, AtoZSerwisPlus reports.
According to Prime Minister Evika Siliņa’s press secretary Aleksis Zoldners, the plan was initiated by the Ministry of Agriculture at the cooperation meeting of the coalition parties.
Finland to Ban Russians From Purchasing Real Estate
Last month, authorities in Finland announced plans to ban nationals of Russia from buying properties in Finland, if the draft legislation prepared for the matter is approved.
The decision was confirmed by Defence Minister Antti Häkkänen (NCP). According to him, the Ministry has been preparing the bill during the summer months, and will likely address it to the government for consideration in autumn.
Russians & Belarusians Banned From Latvia’s Golden Visa Program
Nationals of Russia and Belarus were also eligible to purchase properties in Latvia through the Golden Visa Program.
It comes after Latvia’s Golden Visa Program, which also consists of the real estate investment option that allows applicants to invest at least €250,000 in real estate in Latvia, and the investment must be held for at least five years.
However, Latvia’s government removed Russia and Belarus from this scheme, which based on the figures from the Interior Ministry registered in 2022 and 2023, led to a decrease in the number of golden visas issued.
Czechia Imposes Tighter Citizenship Rules for Russia
Due to Russia’s invasion of Ukraine, authorities in EU countries continue to impose harsh sanctions on Moscow.
Unlike Latvia and Finland, which plan to make it harder for Russians to acquire properties in these territories, authorities in Czechia have taken other measures instead.
Recently, the Elders and Independents (STAN) have proposed to tighten citizenship rules for nationals of Russia who plan to obtain a passport in Czechia.
The STAN movement has proposed that Czechia’s citizenship should be granted only to nationals of Russia who give up their Russian citizenship.
In addition, the proposal of MP Martin Exner was also supported by Czechia’s Minister of the Interior, Vít Rakušan (STAN).
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