[BUYING AND SELLING REAL ESTATE IN LATVIA]
158
the Gulf of Riga and land in the protection zones of public bodies of water and water courses, except if the build-up is allowed on the land in accordance with the spatial plan of the city; - agricultural and forest land in accordance with the spatial plan of the city. In rural areas land may be acquired by: a the citizens of Latvia, citizens of the EU member states or European Economic Area (EEA) states or citizens of Member States of the Swiss Confederation and the Organization for Economic Co-operation and Development; b the Republic of Latvia or derived public persons (such as municipal or other 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 Republic
an
agreement
with
the the
of
Latvia
for
Encouragement
and
Reciprocal
Protection agreement
of
Investment
and
such
has 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 been approved 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-
ILN Real Estate Group – Buying and Selling Real Estate Series
Made with FlippingBook Online newsletter