From now on, only persons registered with the State Revenue Service as economic operators will have the right to buy land parcels that are primarily agricultural land, according to amendments to the Law on Land Privatization in Rural Areas that were passed at a meeting of the state secretaries today, informs LETA/Nozare.lv.
Likewise, the person must have been involved in agricultural production in Latvia for at least three prior years and meet the requirements on single area payments. The person must be able to prove that the land he or she is purchasing will be used in agricultural production for three years or more.
The same applies to legal entities that wish to buy agricultural land plots. Furthermore, such legal entities must employ persons with education in agriculture, or persons who have been in agricultural production for at least three years and own more than 50% of the legal entity’s share capital.
The amendments do not concern persons who buy or sell land plots of five hectares or less in area, as well as the state-owned company “Lauku attistibas fonds” (Rural Development Fund).
The bill also stipulates that if land plot in question belongs to several persons, the other owners will have the right of first refusal, followed by tenants, neighbors, persons who live within 50 kilometers of the given land plot.
Source: The Baltic Course
http://www.baltic-course.com/eng/markets_and_companies/?doc=82569