The new Latvian law "Law on Land Privatisation in Rural Areas” came into effect 1 July 2017. The law introduces limitations on how much agricultural land you can buy / own as a company or private individual in Latvia. The law is related to agriculture land only. As HD Forest focus on forest land, we assess that the new law has limited or no influence on investment for new or existing HD Forest clients.
Below is described a summary of changes in connection with the new law. The biggest problem is for large companies, which already own more than 4,000 hectares of farmlands, that they are forced to sell now. The law might influence agriculture land prices on short time as the number of potential buyers are being limited. There is, however, discussion that the law is violating EU-rules and therefore might be revoked by the EU-system. How much time this process will take is uncertain.
Highlights of the new Latvian “Law on Land Privatisation in Rural Areas”
HD Forest has an agricultural expert in our office, so please contact us should you have any questions or concerns.