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Sunday, January 10, 2016

New Land Law in Ecuador. January 2016.

Must-read for foreigners who own land in Ecuador or would like to buy some.
Ecuador's National Assembly approved Thursday (January 7, 2016) a comprehensive land reform aimed at improving agricultural production, the redistribution of idle land, and ending the concentration of land in hands of few.
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The new Land Law also allows unproductive or idle land to be expropriated by the state and turned over to landless campesinos and farmers, with peasant's organizations receiving special consideration.
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The law also prohibits the concentration of rural land for speculative, commercial or monopolistic ends. It also specifies that foreign state companies may only invest in agricultural production inside Ecuador in conjunction with a state enterprises or with an Ecuadorean business approved by the National Agrarian Authority.

source:

Name of the new law in Spanish: Ley de Tierras Rurales y Territorios Ancestrales
in English: The Law on Rural Lands and Ancestral Territories

more on a subject in English

in Spanish



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