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rights shall be registered with the Land Registry. The build-up rights can be alienated and encumbered with rights in-rem, unless explicitly prohibited in the agreement on granting of the build-up rights. After expiry of the build-up rights, the building (structure) built based on the buildup rights becomes an integral part of the land plot, i.e., becomes the property of the land plot owner. The owner of the land plot acquires the building (structure) without remuneration, unless such remuneration has been provided in the agreement on granting of the build-up rights. In the agreement on granting of the build-up rights the parties may provide that, prior to the expiry of the build-up rights, the holder of the build-up rights shall vacate the land plot from the constructed buildings (structures). D. Restrictions for acquisition of land in Latvia As of 3 July 2025, the Law on the Restriction of Transactions Endangering National Security has entered into force, and it applies to the acquisition of any type of real estate within the territory of the Republic of Latvia. The law establishes a prohibition to acquire real estate, participate in auctions, or exercise pre-emptive or redemption rights for the Russian Federation, the Republic of Belarus, their citizens, legal entities registered in these countries, as well as entities where Russian/Belarusian nationals or companies hold at least 25% of shares or are ultimate beneficial owners. Also otherwise exists certain provisions
and legal restrictions for acquisition of real estate in Latvia; however, these restrictions are imposed only regarding ownership of the land, there are no restrictions regarding ownership of other types of real estate such as buildings, structures, apartments, business premises etc. Restrictions for acquisition of land vary depending on whether the land is located in the city or in rural areas. In cities land may be acquired by: a the citizens of Latvia and any European Union (EU) member state; b the State and local government, and state and municipal companies; c a capital company (a limited liability company or a joint stock company) registered in Latvia or any EU member state, if more than a half of the share capital of the company belongs to: 1) the citizens of Latvia and EU member state; or 2) the State and local government, and state and municipal companies; 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
ILN Real Estate Group – Buying and Selling Real Estate Series
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