Last week, the Romanian government has approved a law on the liberalization of the land market. Starting from 2014, EU citizens will able to buy land in Romania as individuals, without the need to register a legal entity in the country, according to ee24.com citing balkans.com.
Minister of Agriculture Daniel Constantine argues that the new rules will help to expand arable land and increase the share of food production made in Romania.
In order to buy land in Romania, EU citizen will have to declare this intention to the local administration. This information will be released to those who has a right of priority in purchase could implement it. If nobody is interested, then after 30 days a foreigner can buy a piece of land.
Let is recall that now the state of agriculture in Romania is quite abysmal: after the fall of communism, the state agricultural cooperatives went bankrupt. Land were returned to their former owners, but many did not use it. Now it will be easier for such owners to sell their land.