Citizens of Belarus Prohibited from Purchasing Real Estate in Latvia
Unleashing the Latvian Property Market: A Tightened Grip
Brace yourself, folks! Latvia has tightened the screws on real estate purchases as of June 2025, shutting off the opportunity for citizens and businesses from Belarus and Russia to snap up properties. Here's the lowdown on this game-changer.
The new law, passed with a convincing majority, bars individuals from both Belarus and Russia, as well as companies holding at least 25% by these countries' citizens or with beneficial owners from these nations, from purchasing real estate in Latvia. This ban covers all types of transactions, including gifts, inheritance, exchange, and more.
Legal entities registered in either of these countries fall under the same restrictions.
But fear not, dear Belarusians and Russians! There's a silver lining: You can still grab an apartment if it's your sole residential real estate. However, there's a catch—you must already be an EU resident or possess a valid permanent residence permit in Latvia when the law takes effect.
In the realm of inheritance, properties passed down from relatives remain unscathed and outside of the ban's reach. The same goes for Belarusian political refugees and repatriates, whose property acquisition rights will be determined on a case-by-case basis.
So, why the major clampdown? National security concerns are at the heart of this decision. The Latvian parliament views real estate acquisition by Russian and Belarusian nationals as a form of "hybrid warfare" and a means to exert non-military influence, threatening Latvia's independence.
This move is also part of a broader crackdown on economic and strategic ties with Russia and Belarus amid escalating regional tensions.
In essence, as we bid farewell to mid-2025, Russians and Belarusians find themselves unable to purchase real estate in Latvia, except for certain humanitarian grounds and those holding valid residencies. It's a whole new world for the property market!
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In light of the Latvian government's new law, investors from Belarus and Russia are barred from investing in Latvian real estate, affecting all types of transactions such as purchases, gifts, and inheritance. However, an exception is made for members of either nation who already possess a valid permanent residence permit in Latvia or are EU residents.
