A DEADLINE HAS NOW BEEN SET FOR THE USE OF PRIVATIZATION CERTIFICATES IN LATVIA

29 gegužės, 2025 Naujienos

A privatization certificate is a dematerialized security issued by the state, which can be used only once as a means of payment for state or municipal property subject to privatization.

WIDEN Latvia wishes to alert the public that privatization certificates can be used until April 30, 2028.

Since the law “On Privatization Certificates” came into force on April 18, 1995, there had been no expiration date set for privatization certificates.

However, as of May 1, 2025, amendments to the Law on the Completion of Privatisation of State and Local Government Property and Use of Privatisation Certificates have entered into force. These amendments introduced Section 34.1 to Chapter VI, which, for the first time in history, sets a deadline for the use of privatization certificates.

WIDEN Latvia urges residents who still possess privatization certificates to use them by April 30, 2028.

The nominal value of one privatization certificate is EUR 39.84, and they may only be used within the framework of state and municipal property privatization and land redemption processes.