New rules for acquisition of agricultural land – Case of Slovakia

The paper analysis the development of the legal regulations of the currency law related to the acquisition of the land by the foreigners and the new legal regulation no. 140/2014 Coll. on the acquisition of the ownership to the agricultural land which entered into force on June, 1st, 2014 and to limit not only the rights of foreigners but also the rights of the Slovak residents as well. According to this law the owner of the agricultural land in Slovakia may, without further restrictions, transfer the agricultural land only to (a) a buyer who has been active in the food business or exercises agricultural activity („Farmer“) in the municipality where the agricultural land is situated for at least three years prior to the transfer
or (c) persons related to the owner, in the event that the owner is a natural person
(b) the existing co-owner of the agricultural land