Ukraine abolishes moratorium on sale of agricultural land
Today, July 1, 2021, the Law “On Amendments to Certain Legislative Acts of Ukraine on the Movement of Agricultural Land” comes into force, which abolishes the moratorium on the sale of agricultural land.
This is stipulated in the final provisions of the law, reports Ukrinform.
According to the document, from July 1, 2021 to January 1, 2024, only Ukrainian citizens can buy agricultural land. During the first two years after the law comes into force, an individual will not be able to purchase more than 100 hectares of land.
If the area of the land purchased exceeds the maximum size specified, it is confiscated by court order. A body exercising state control over the use and protection of land can apply for the confiscation of land. The confiscated land is put up for sale at an auction by virtue of a court decision.
Payment transactions for the purchase of agricultural land will be carried out only in non-monetary form. The price of agricultural land cannot be lower than their normative monetary value (this norm will be valid until January 1, 2030).
By law, only private land can be purchased. State and communal agricultural land will not be sold. From January 1, 2024, Ukrainian legal persons created and registered under Ukrainian law, the participants of which are only Ukrainian citizens and / or public or territorial communities, will be allowed to purchase agricultural land.
Legal persons who have not disclosed information about their beneficial owners or whose beneficial owners are registered in offshore areas will not be able to obtain permits for the acquisition of agricultural land.
Foreign nationals will only be allowed to buy agricultural land in Ukraine after the relevant decision has been taken by the national referendum.
Agricultural land will not be sold to legal persons controlled by natural and legal persons registered in countries registered by the FATF in the list of States not cooperating in the field of the fight against money laundering.
In addition, regardless of the decision adopted by referendum, foreign citizens are prohibited from purchasing land in the 50 km area of the state border of Ukraine.
As reported, on March 31, 2020, the Verkhovna Rada adopted the Law “On Amendments to Certain Legislative Acts of Ukraine Concerning the Movement of Agricultural Land”. On April 28, it was signed by President Volodymyr Zelensky.