ILN: BUYING AND SELLING REAL ESTATE - AN INTERNATIONAL GUIDE

[BUYING AND SELLING REAL ESTATE IN LATVIA]

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public person established based on law); c a capital company (a limited liability company or a joint stock company) registered in Latvia, EU, EEA country or in the Swiss Confederation or in a Member State of the Organization for Economic Co-operation and Development, if the respective company has been registered in Latvia as a taxpayer and if all the shareholders of the company are: 1) citizens of Latvia, citizens of the EU member states or EEA country, or citizens of Member States of the Swiss Confederation and the Organization for Economic Co- operation and Development; or 2) the Republic of Latvia or derived public persons; or 3) private individuals or legal entities from the countries, which have concluded an agreement with the Republic of Latvia for the Encouragement and Reciprocal Protection of Investment and such agreement has been approved by the Parliament of Latvia prior to 31 December 1996; or 4) private individuals or legal entities from the countries, which have concluded an agreement with the Republic of Latvia for the Encouragement and Reciprocal Protection of Investment after 31 December 1996, and the respective concluded agreement prescribes the rights of the private individuals and legal entities from Latvia to acquire land in the respective country;

d legal subjects registered in Latvia, EU, EEA country or in the Swiss Confederation or in a Member State of the Organization for Economic Co- operation and Development, if the respective legal subject has been registered in Latvia as a taxpayer or as a commercial activity performer and if the legal subject is: 1) an individual merchant owned by a citizen of Latvia, citizen of the EU member state or EEA country, or citizen of Member States of the Swiss Confederation and the Organization for Economic Co- operation and Development; 2) an individual undertaking registered by a citizen of Latvia, citizen of the EU member state or EEA country, or citizen of Member States of the Swiss Confederation and the Organization for Economic Co- operation and Development; 3) a co-operative society, if all the members of the society are legal subjects mentioned in clause 1), 2), 3) or sub-clause a), b), d) of clause 4); 4) other legal subject registered in the

EU member state, EEA country or in the Swiss Confederation or in a Member State of the Organization for Economic Co-operation and Development, which can be compared to the above individual merchant, individual undertaking, or co-operative society;

5) religious organizations registered in Latvia; the activity whereof is at least 3 years;

ILN Real Estate Group – Buying and Selling Real Estate Series

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