Ownership of large pieces of agricultural land and forest (exceeding 10 hectares) can be transferred to foreigners and foreign legal persons only with the authorisation of the council of the local government. Citizens of EEA states or OECD member states are not subject to any restrictions.  Restrictions also do not apply to legal persons whose seat is in an EEA state or OECD member state, provided that the purchaser has been engaged, for three years immediately preceding the year of making the transaction of acquisition of the immovable, in forest management or agricultural production.
"Chapter 1 - General Provisions  
§ 1.  Area of regulation of Act:
 (1) This Act provides the restrictions on the acquisition of immovables used as profit yielding land arising from public interest and the restrictions on the acquisition of immovables arising from national security reasons. For the purposes of this Act, public interest is, in particular, development of the management for specific purposes and sustainable management of immovables used as profit yielding land which contain agricultural and forest land.
 (2) For the purposes of this Act, agricultural land is a land parcel in the land use type category of land under cultivation or natural grassland or both such lands of an immovable used as profit yielding land or a part thereof.
[...]

Chapter 2 - Restrictions on Acquisition of Immovables Used as Profit Yielding Land
§ 4.  Acquisition of immovables which contain agricultural or forest land by persons of Contracting States:
 (1) A citizen of Estonia or another country which is a contracting party to the EEA Agreement or a member state of the Organisation for Economic Cooperation and Development (hereinafter Contracting State) has the right to acquire an immovable which contains agricultural or forest land without restrictions.
(2) A legal person the seat of which is in a Contracting State (hereinafter legal person of a Contracting State) has the right to acquire an immovable which contains less than ten hectares of agricultural land, forest land or agricultural and forest land in total without restrictions.
(3) A legal person of a Contracting State has the right to acquire an immovable which contains ten hectares or more of agricultural land if the legal person has been engaged, for three years immediately preceding the year of making the transaction of acquisition of the immovable, in production of agricultural products listed in Annex I to the Treaty on the Functioning of the European Union, except fishery products and cotton (hereinafter agricultural product).
[...]
(5) A legal person of a Contracting State has the right to acquire an immovable which contains less than ten hectares of agricultural land and less than ten hectares of forest land, but ten hectares or more of agricultural and forest land in total, if the legal person has been engaged, for three years immediately preceding the year of making the transaction of acquisition of the immovable, in production of agricultural products or forest management.
 (6) If a legal person of a Contracting State does not meet the requirements provided for in subsections (3)–(5) of this section, the legal person may acquire an immovable which contains ten hectares or more of agricultural land, forest land or agricultural and forest land in total only with the authorisation of the council of the local government of the location of the immovable to be acquired (hereinafter council).

§ 5.  Acquisition of immovables which contain agricultural or forest land by persons of third countries:
 (1) A citizen of a third country has the right to acquire an immovable which contains agricultural or forest land only with the authorisation of the council if the citizen has resided in Estonia permanently for a period of at least six months immediately before applying for the authorisation or if the citizen has been engaged in Estonia, for one year immediately preceding the year of applying for the authorisation, as a sole proprietor in:
 1) production of agricultural products if the immovable to be acquired contains agricultural land, or
 2) forest management or production of agricultural products if the immovable to be acquired contains forest land or both agricultural and forest land.
 (2) For the purposes of this Act, a citizen of a third country is a natural person who is not a citizen of a Contracting State.
 (3) A legal person of a third country has the right to acquire an immovable which contains agricultural land only with the authorisation of the council if the legal person has been engaged in Estonia, for one year immediately preceding the year of applying for the authorisation, in production of agricultural products and if a branch of the legal person is entered in the Estonian commercial register.
[...]
 (5) A legal person of a third country has the right to acquire an immovable which contains both agricultural and forest land only with the authorisation of the council if the legal person has been engaged in Estonia, for one year immediately preceding the year of applying for the authorisation, in production of agricultural products or forest management and if a branch of the legal person is entered in the Estonian commercial register.
 (6) For the purposes of this Act, a legal person of a third country is a legal person whose seat is not in a Contracting State.

§ 7.  Processing of applications for authorisation for acquisition of immovables which contain agricultural or forest land:
[...]
(4) The council may make a decision on refusal to grant authorisation for acquisition of an immovable if:
 1) the applicant or the application for authorisation does not meet requirements provided for in this Act;
 2) the grant of authorisation is contrary to the public interest within the meaning of this Act and there is no other predominant public interest;
 3) the grant of authorisation prevents the local government to perform the functions assigned thereto by law.
[...]"
(Restrictions on Acquisition of Immovables Act (RT I, 23.02.2012, 11; last amended 14 June 2017), Chapter 1, §1; Chapter 2, §§4, 5 and 7 [unofficial translation])
Restrictions on Acquisition of Immovables Act (RT I, 23.02.2012, 11; last amended 14 June 2017), Chapter 1, §1; Chapter 2, §§4, 5 and 7
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