Legal restrictions

1. Acquisition of immovable property by foreign persons/companies.

– Are there any legal restrictions that affect a foreign citizen wishing to purchase an immoveable property? Does nationality play a role at all?

No restrictions, so everyone can buy property in Finland. For instance Russian citizens have bought hundreds o real estates during last five years.

2. Acquisition of agricultural land: restrictions and limitations.

– Are there any legal restrictions that affect a foreign citizen wishing to purchase an agricultural property? Is there any kind of limitation?

– Are any permits required by a foreign citizen wishing to purchase an agricultural property? Are these matters covered by the Land Registry Procedure?. If so, please describe the procedure and name the relevant authority that must grant approval.

No

3. Acquisition of flat property: legal restrictions.

– With regard to the purchase of flat property, are there any legal restrictions, such as approval by other apartment owners or by the management company responsible for the relevant property (stipulated in the statutes for example)?

In general no restrictions, but in some cases according the provisions of the company (a speciality in Finnish legislation that a company owns the block of flats) it may be ruled that those owns an apartment in the company may have a pre-emption to buy the property to be sold.

These matters are not covered by the Land Registry Procedure. The procedure is covered under company legislation.

4. Acquisition of immovable property in special areas (such as on the coast or near military-related sites or in national parks, in the mountains, etc.)

– Is a permit required for the acquisition of real estate property in special areas (such as on the coast or near military-related sites or in national parks, mountains, etc.)? Is this part of the Land Registry Procedure?

In general no restrictions. Only in the case of a real estate or area, which is meant to serve as a graveyard, the acquisition of the property is restricted a certain time.

The procedure is covered by Land Registration so that the restriction of possession shall be entered into the title and mortgage register (i.e. Land Registry).

5. Acquisition of immovable property and listed monuments and memorials.

– Is a special permit required for the acquisition of monuments or listed buildings?

There are some restrictions which have effect on the land use of those areas an also obligations to take care of the national heritage. However these matters are not covered by the Land Registry Procedure.

6. Planning Code and legal restrictions (pre-emption right; approval by the municipality or other authorities; splitting a land parcel).

Do your municipalities or the government have a special pre-emption right to property (i.e. a right of first option for the sale of a real estate property)? Does land division require a special permit?

If yes, please name the relevant authority that must grant approval.

Are these matters covered by the Land Registry Procedure?

The municipalities have a pre-emption right is certain cases and also in few cases land division requires a special permit granted by municipality in question. The pre-emption right is covered by land registration so that the application of title registration shall be left in abeyance until the time that the deadline for the use of the right of municipal pre-emption has passed.

7. Land given by the municipality to domestic inhabitants: legal restrictions?.

Does your national law have a so-called «local residents model», i.e. the allocation of land by the municipality under the condition that the buyer is obliged to keep the land and not to move away for a specific number of years?

If yes, are there any legal restrictions for the purchaser?

Yes, usually the purchaser is obliged to pay extra charge if he/she wishes to sell the property earlier that the agreed time has expired.

8. Acquisition of immovable property and tax affairs.

Must the transfer tax be paid before or after the registration in the land register? Can the Land Registry carry out the real estate property registration without a certification from the tax office?

The transfer tax must be paid before. The title registration can be made only in the case that the tax is paid and the receipt is delivered.

9. Destination of the land parcel and legal restrictions.

Does your national law have special legal restrictions that are already apparent from the description of the land parcel?

According to the code of real estate chapter 11 paragraph section 4 title to State forests, expropriated units, lands separated for public use, accretions and relictions, common waters and commons shall not be registered. But, if such real estate or a share or parcel thereof is conveyed, the acquisition shall be subject to the obligation to register title.

10. Any other legal, very specific restrictions.

Does your national law have other, very specific legal restrictions that the Land Registry must observe?

If so, please describe the legal restrictions and their impact on the Land Registry procedure.