Slovakia criticised for farmland acquisition law

On Thursday the European Commission officially requested five countries, including Slovakia, to change their farmland acquisition laws. The reason is breaching the free movement of capital and the freedom to settle. Slovakia has been criticised for requiring purchasers of farmland to have long-term permanent residence in the country. The European Commission understands the Slovak incentive to fight speculative farmland purchases. However, requiring long-term permanent residence in the country discriminates against other EU citizens. After joining the EU, Bulgaria, Hungary, Latvia, Lithuania and Slovakia were given a transition period until 2014 to adjust the agricultural law to the EU regulation. However, the 5 countries adopted new legislation regulating the acquisition of farmland after 2014. If Slovakia and other four countries do not adjust their law in two months, the European Commission could take legal action.