Latvia has banned Russians and Belarusians from buying real estate, the Latvian newspaper LSM reports. The Seimas adopted the relevant law in the final reading.
It is still possible to inherit property. Another exception is cases where an object is recognized as property by a court decision.
The restriction also does not apply if the only housing is purchased, and the buyer has a permanent residence permit in the EU.
The ban on the purchase of real estate will also apply to legal entities registered in Russia or Belarus, as well as to companies in which citizens of these countries own at least 25% of the share (shares) of the authorized capital, and where they are the actual beneficiaries. The ban will take effect after the law comes into force. It will not affect the transactions concluded earlier in any way.Source: LSM
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