Priority right to buy
agricultural land in Lithuania
Priority right who are able to buy private agricultural land for the asking price is set in the following sequence:
- Land plot co-owners;
- User of on sale land plot who used this land plot for agriculture for no less than a year and had an agreement registered in Real estate registry.
- A person who has agricultural land which borders with on sale agricultural land.
Liability of legal persons for not performing
In general, fines for legal persons not performing agricultural activity on the purchased agricultural land are from 1450 EUR to 2900 EUR. Size of the fine is determined by the average of fine minimum and maximum, considering to mitigating or aggravating circumstances.
Information on how to purchase an agricultural land in Latvia
Natural persons or legal persons are able to acquire agricultural land in Latvia. Natural person or legal person can buy not more than 2 000 hectares of agricultural land in Latvia. A legal person is able to purchase agricultural land in Latvia if at least 30% of income of the owner for the previous 3 years is derived from agricultural activity. Persons from EU, EEA and persons from countries with which Latvia has concluded investment protection treaties are able to purchase land in Latvia.
Should you have any questions about buying an agricultural land in Lithuania, Estonia or Latvia, please do not hesitate to contact our English speaking lawyers at email@example.com.