Estonia Approved a Bill on Restrictions on Property Acquisition by Belarusians
The Estonian government has approved a bill that restricts the ability of citizens of Belarus and Russia to acquire real estate in the country, writes ERR.
According to the law, citizens of Belarus and Russia who do not have a permanent residence permit or the right to long-term residence in Estonia, as well as companies linked to or controlled by these states, will not be able to purchase real estate throughout Estonia.
The authorities explain this with security considerations: they claim that real estate can be used for intelligence, information gathering, preparing sabotage, or other activities that could threaten the state. Therefore, according to the Estonian side, it is necessary to close off opportunities that "hostile states" could exploit.
The restrictions will also apply to companies registered in Belarus and Russia, as well as entities in other countries if their ultimate owners fall under these rules. The authorities want to verify who actually controls the buyer to make it impossible to circumvent the ban.
The law will not affect already acquired real estate and will not be retroactive. It also does not apply to Belarusians and Russians who already have a permanent right of residence in Estonia. Rental of housing will remain permitted.
In certain cases, the government will be able to grant exceptions. The impact of this decision on the real estate market is expected to be small. According to calculations, the restrictions could affect about 600 transactions per year.
If the law is adopted by the Estonian parliament, it is planned to enter into force on January 1, 2027.
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