The breakthrough policy signed by Ukraine’s president on April 28, 2020, removes a long-standing ban on the sale of land.
Made effective July 1, it allows Ukrainians to purchase agricultural land plots of up to 100 hectares per person. Legal entities if owned by Ukrainians will be granted this right starting January 1,2024. Under the new law, companies face the limit on purchases over 10, 000 hectares.
To grant the same right to foreigners, Ukraine is set to hold a referendum.
The law keeps in place restrictions on the sale of state and municipal land, and also bars legal entities owned or affiliated with (a) unidentified beneficiaries, (b) offshore company owners, and (c) persons and businesses from FATF-listed countries.