President formally ends ban on land sales to foreigners

The Czech president on Wednesday singed into law an amendment to the Czech Foreign Exchange Act which will formally end a ban land sales to foreign nationals. The ban, a part of a Czech opt-out from EU law incorporated into the country’s accession treaty to the bloc, expired in May. The new amendment is expected to enter into force in mid July, a spokeswoman for the Finance Ministry said. However, foreigners have long been able to buy land through Czech intermediaries.