As long as the arrow you shoot does not go beyond the boundary of your property then you are totally legal to shoot. But I would let your neighbours know so they don't call for the police when they see you in your robin hood outfit.
Did Legolas have a license?
THEY'RE TAKING THE HOBBITS TO ISENGARD!
No, because Middle Earth doesn't have our elf & safety laws.

No, because Middle Earth doesn't have our elf & safety laws.
No, because Middle Earth doesn't have our elf & safety laws.
You don't need a license to own a bow and shoot it on your own private land as far as I'm aware.
You don't need a license to own the bow, but you can't shoot it on your own private land unless it's a registered archery range. The reason for that should be obvious - you miss your target, you don't want your arrow flying over your garden fence and hitting your neighbours. To shoot, you'd need to join an archery club that has use of a nice big field to shoot on.
I have to say I've tried Archery a few times (on adventure weekends and the like) and I absolutely love it as well. I never even thought that stuff like that would come up on groupon, I think I'll have to sign up and keep an eye out. I'd love to get more into Archery, although at the minute I don't really have the space.
No, because Middle Earth doesn't have our elf & safety laws.
You are just the worst kind of person.