I have been the managing partner of the pan-Baltic law firm Lextal – with offices in Estonia, Latvia, and Lithuania – for six years. During this time the market has changed considerably.

Contributed by RER Lextal.

Contributed by ILAW Lextal.

Similarly to the rest of the world, the major factor affecting every aspect of life is COVID-19, however, despite the crisis, things are going rather well in Estonia, according to Lextal Partner Kristi Sild.

The real estate market in all three Baltic States is closely related and, although the legal systems vary a bit, buyers face the same or similar issues. Although important details concerning the purchase of real estate are brought forth in the sale contract drawn up by a notary (in Estonia and Lithuania) or attorney at law (in Latvia), in practice various nuances still tend to be left unattended.

Directive 2019/2161 of the European Parliament aims to ensure better enforcement and the modernization of EU consumer protection rules. The Omnibus directive is also known as the consumer GDPR because it sets forth hefty fines for infringements of the regulatory framework on consumer rights protection. The Omnibus directive must be transposed into the national legislation by November 28, 2021.

According to its website, Budapest-based InvestCEE aims to “humanize technology” for lawyers and provides services to law firms and in-house counsel in Hungary, Romania, Croatia, Poland, and the Czech Republic.