Press Release: Financial Services: European Commission opens an infringement procedure against LATVIA on investor restrictions for agricultural land

On 29 April 2015 the European Commission decided to formally request Latvia to submit its observations on its law regulating the acquisition of agricultural land.

The law contained several provisions which, under EU law, might be considered to restrict the free movement of capital and freedom of establishment.

While Member States are permitted to set their own rules to promote rural development, to preserve rural communities, to keep land in agricultural use and avoid speculative pressure on land prices, this must be in line with EU law.

ESO: Background information: Financial Services: Commission opens infringement procedures against Bulgaria, Hungary, Lithuania and Slovakia on investor restrictions for agricultural land http://www.europeansources.info/record/press-release-financial-services-commission-opens-infringement-procedures-against-bulgaria-hungary-lithuania-and-slovakia-on-investor-restrictions-for-agricultural-land/

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