Latvia will punish buyers who don't use their property

Latvia will punish buyers who don't use their property

This Tuesday the Government of Latvia has adopted restrictive amendments to the law on the privatization of agricultural lands. It will be harder to buy such a property in Latvia, and new owners will have to start using it within three years. Otherwise authorities will adopt severe measures, according to ee24.com citing delfi.lv.

Companies wishing to acquire land of ​​more than 5 hectares in Latvia, will have to prove that their activity in recent years has been linked to agriculture. The same goes for individuals who will have to submit the documents on agricultural education.

Such measures are designed to keep the industry's potential, as well as to prevent further reduction of cultivated land. Latvian farmers who staged a picket close to the government building can claim victory: now only really interested companies and businessmen will able to buy land in Latvia. Though, the law must still be approved by parliament.