Coming from outside the EU and wanting to buy property in Finland? You'll need permission
Starting from 1 January 2020 the permit will cost a couple of hundred euros and processing could take up to 3 months
- November 05, 2019 11:30
- Monika Dimitrova
Starting from 1st January 2020 non-EU nationals wanting to buy real estate in Finland will need the government's permission. According to the statement of the Finnish Ministry of Defence the permit will cost a couple of hundred euros and processing could take up to 3 months.
The new rules are part of a legislation package approved in March 2019. The applications will need to be submitted online to the Ministry of Defence. The aim of the new legislation is to protect national security. The creation of a new system will allow the country to monitor and control real estate purchases and will help to secure the national interest of protecting the country.
The new legislation applies to properties located throughout Finland, with the exception of the Åland Islands. It concerns property deals closed after 1 January 2020. The permit has to be obtained by both private individuals who are not nationals of the European Union or the European Economic Area, states and companies or other entities domiciled outside EU and EEA. Individuals with dual citizenship don't have to obtain the permit if one of the nationalities is in an EU or EEA country.
The buyers have to pay a fee to obtain the permit
The amount has not been fixed yet, the fee is expected to be in the range of a couple of hundred euros - it's not the process' aim to be too expensive. If permission is denied, however, the fee will not be refunded.
Applications can be submitted in Finnish or Swedish. The approval procedure is estimated to be finished up within three months. In the permission application, buyers will have to declare their intentions when it comes to the use of the property. Then, the Finnish authorities will make a case-by-case decision and take specific measures depending on the type of real estate being purchased before granting the permit.
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