Tuesday, November 19, 2013

No Restrictions for Foreigners Purchasing Romanian Farmland

Since Enescu & Cuc is a law firm specialized in Real Estate transactions we keep a close watch on the latest developments related to the limitations for foreigners intending to purchase Romanian farmland. The latest news in Romania shows that the state will remove restrictions currently imposed foreigners who want to buy agricultural land after January 1, including the requirement to have experience in agriculture, but keep the provision for pre-emptive right of Romanian citizens, according to a legislative bill .

The government had recently showed its intention to limit to 100 hectares agricultural land that a person can hold, Romanian or from another EU country but maintained the purchase conditions on agricultural knowledge and minimum of five years activity in this sector." And these restrictions have been removed , but maintaining the right of first refusal to purchase the land of individuals co-owners , tenants , neighbors, individuals and young people aged up to 40 who were farming in the locality in which the respective agricultural land ,"said sources in the Ministry of Agriculture agency AFP .The measures are contained in a draft law regulating the sale and purchase of agricultural land by individuals. According to sources quoted , the project will be discussed in the Government meeting on Wednesday.
When you receive an offer from a foreign national , the seller is obliged to go to town hall with a petition seeking notification and display preemptorilor offer for sale of agricultural land. The application shall be accompanied by the offer of sale of agricultural land , which will include , in addition to the asking price for the land , the name seller, address of the place of residence , location of land area , land use category and document.

If you intend to purchase Romanian farmland please contact our law firm for the latest information on this matter.

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