Russians and Belarusians banned from buying property in Latvia

The Saeima (parliament) of Latvia has adopted a law in the third reading that prohibits citizens of Russia and Belarus from buying real estate in the country.

Source: Delfi, a Baltic states news website

Details: Citizens of Russia and Belarus, as well as companies owned at least a quarter by them or whose beneficiaries are Russians and Belarusians, will no longer be able to purchase (receive as a gift or inheritance, exchange, etc.) real estate in Latvia.

MPs proposed the law to limit the impact of hybrid threats, including the indirect purchase of real estate.

The second reading also banned Russian citizens and former Latvian (non) citizens who had received an automatic residence permit and, after the start of Russia's full-scale invasion of Ukraine, passed a language proficiency test and loyalty test. However, there were some exemptions for this category by the third reading.

The prohibition on real estate purchases will apply to all transactions entered into by the above categories of Latvian residents after the law enters into force.

The new rules will apply to all types of property alienation and acquisition, including sale, lease or rental agreements with a right to purchase, gift, exchange, retention agreements, auctions, inheritance agreements and any other type of transaction through which Russian and Belarusian nationals may potentially acquire ownership of real estate in Latvia.

The new law has some exceptions, such as if the property is inherited by relatives or is recognised as property by a court decision.

Background: In January, a draft law was submitted to the Latvian parliament that would ban Russian and Belarusian citizens and their legal entities from purchasing real estate in the country.

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