Ukrainian Parliament Adopted a Law on the Land Market
OREANDA-NEWS. The Verkhovna Rada of Ukraine adopted a law giving a possibility of selling agricultural lands from July 1, 2021.
259 parliamentarians supported the bill. Deputies of the factions Opposition Platform – For Life, led by Vadim Rabinovich, Yuriy Boiko and Viktor Medvedchuk, and Fatherland, led by Yulia Tymoshenko, did not cast a single vote for the draft law.
Now the document should be signed by President of Ukraine Volodymyr Zelensky.
In the first three years after the adoption of the law, there will be a restriction on the ownership of 100 hectares by an individual; from January 1, 2024, agricultural lands will be able to be acquired by legal entities with a limit of up to 10 thousand hectares. At the same time, the law prohibits the sale of agricultural land of state and communal ownership.A decision on the access of foreigners to the land market will be made following the results of all-Ukrainian referendum.