Estonia moves to restrict property purchases by Russia-linked individuals

The Estonian Parliament's Rural Affairs Committee has approved a bill that would restrict the ability of people linked to Russia and Belarus to purchase real estate in the country.

According to Report, citing a statement published on the parliament's website, the restrictions would apply to Russian and Belarusian citizens who do not have a long-term residence permit in an EU country or permanent right of residence in Estonia.

The restrictions would also cover legal entities from Russia and Belarus, as well as companies whose ultimate beneficial owners are Russian or Belarusian citizens.

The amendments would not apply to real estate already acquired and would not restrict the right to reside in Estonia. Those subject to the restrictions would still be able to use the rental market but would no longer be permitted to purchase property.

According to committee chairman Urmas Kruuse, the bill was prepared in response to the changed security situation.

The committee has proposed completing the bill's first reading at a plenary session of parliament on October 14.