Ukrainian President Signed a Law on the Agricultural Land Market
OREANDA-NEWS. On April 28, President of Ukraine Volodymyr Zelensky signed a law on the agricultural land market. This was reported by the press service of the Office of the head of state.
It is noted that the law forms a legislative field for the introduction of a market turnover of land, ensures the right of citizens to free disposal of property, as well as creates transparent conditions for the acquisition of land plots.
According to the document, from July 1, 2021, only Ukrainian citizens will be able to acquire plots of agricultural land with an area of up to 100 hectares. From January 1, 2024, this opportunity will be given to companies owned by Ukrainians, and the maximum allowable area of acquired land will increase to 10 thousand hectares.
The sale of state and communal lands in the country will be banned, and the issue of granting foreigners the right to buy land will be put to a referendum.
According to the authors of the law, it will expand investment opportunities in the agricultural sector.