In Latvia, a ban was introduced for citizens of Russia and Belarus on the purchase of real estate. The Seimas adopted the corresponding law, which provides for restrictions on agreements that may pose a threat to national security. About this informs LSM.
69 deputies voted for the law, 8 were against it. In addition to natural persons, the restriction also applies to legal entities registered in Russia or Belarus. The ban also applies to situations where Russians or Belarusians own at least 25% of shares or shares in the authorized capital of companies seeking to purchase real estate.
The law applies to agreements concluded after its entry into force. At the same time, exceptions are provided: if the real estate is inherited by relatives or is recognized as the property of a citizen of Russia or Belarus by a court decision. The law also does not apply to persons with a permanent residence permit in Latvia, issued before the law came into force, or to those who later obtained the status of permanent resident of the EU.
Legislators emphasize that, along with military actions in Ukraine, Russia is waging a hybrid war against countries that condemn its aggression — in particular, against Latvia. Indirect acquisition of real estate in such countries is seen as part of this hybrid threat. The explanation also states: Russia has already used the fact that its citizens are abroad as a pretext for invasions, under the guise of the need for “protection.”
“The Sejm has already emphasized that the war unleashed by Russia against Ukraine requires special attention to issues of national security of Latvia and new measures for its protection“, the document says.
