Economy 2022-06-15T05:45:44+03:00
Ukrainian news
Zelenskyy Approves Lifting Of Moratorium On Agricultural Land Sale From July 2021

Zelenskyy Approves Lifting Of Moratorium On Agricultural Land Sale From July 2021

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law, President, moratorium, land market, land sale, agricultural land, Volodymyr Zelenskyy, farmland sale, farmland market

President Volodymyr Zelenskyy has signed a law providing for the lifting of the moratorium on the sale of agricultural land from July 1, 2021.

The press service of the President has said this in a statement, Ukrainian News Agency reports.

Zelenskyy signed the law On Amending Certain Legislative Acts of Ukraine Concerning the Conditions for the Turnover of Agricultural Land (No. 552-IX), which the Verkhovna Rada adopted on March 31.

The document provides for the formation of a legislative field for the introduction of market turnover of agricultural land, it will ensure the implementation of the constitutional rights of citizens to freely dispose of their property and create transparent conditions for the acquisition of land by citizens of Ukraine.

According to the document, citizens of Ukraine, the legal entity of Ukraine, whose participants (shareholders, members) are only citizens of Ukraine, territorial communities and the state, have the right to purchase agricultural land.

In this case, until January 1, 2024, citizens of Ukraine can buy a land plot with an area of ​​up to 100 hectares.

In turn, during this period, the purchase and sale or other alienation in favor of legal entities of privately owned land plots and those assigned to lands for agricultural commodity production is prohibited, except for the transfer to the banks of the property right to land plots as a pledged item, inheritance, and swap.

After January 1, 2024, the total area of ​​agricultural land plots owned by a citizen cannot exceed 10,000 hectares, owned by a legal entity (except banks) cannot exceed the total area of ​​land plots that can be owned by all its participants, but not more than 10,000 ha.

Foreigners are prohibited from acquiring shares in the authorized capital, shares, units, membership in legal entities (except in the authorized capital of banks) that are owners of agricultural land, unless otherwise decided by citizens of Ukraine in a referendum.

In addition, it is forbidden to sell state and communal property.

Until January 1, 2030, the selling price of land plots allocated in kind to the owners of land shares cannot be less than their normative-monetary value.

As Ukrainian News Agency earlier reported, on March 31, the Verkhovna Rada lifted the moratorium on the sale of agricultural land from July 2021.

On November 13, 2019, the Rada adopted the draft law in the first reading and it envisaged the lifting of the moratorium on the sale of agricultural land from October 1, 2020.

It also provided for limiting the purchase of land by foreigners until 2024, the total area owned by one person to 200,000 hectares, the inability to buy more than 35% of the land within the same united territorial community.





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