Commercial Property Finland

1. Are there any restrictions on an overseas company or business buying commercial property?	No
2. Is land/property generally ‘registered’ so that the title/ownership is guaranteed?	Yes
3. What are the basic requirements/procedures?	The deed (in regulated form) must be created and signed in front of a public notary followed by the ownership registration procedure in the District Court.
4. On average, how long does the process take?	1-3 months
5. What searches are advisable?	Land Registry and the registry of the District Court (ownership and mortgages)
6. What are estimated disbursement costs?	Approximately 100€ for the services of the public notary and lower costs for the other public services connected to the procedure.
7. What are the local and/or national tax considerations in the country of purchase?	The buyer is under an obligation to pay property transfer tax at 4% of the value of the property (1.6 % if they are shares in a property company)
8. What other annual local charges are obligatory?	Real estate tax min. 0.5 % and max 1% of the taxable value of the property. The level of taxation is decided by the municipality.
9. Are there any other issues to consider?	Strict liability for environment damages. obligation to seek special permits and acquire insurance policies if the commercial activity is a risk to the environment.