Zelensky signs law on sale of agricultural land

Ukrainian President Volodymyr Zelensky has signed into law a bill introducing amendments to certain legislative acts of Ukraine on the terms of sale of agricultural land, which was approved by the Verkhovna Rada on March 31, 2020, the Office of the President has reported.

"This is a historic moment for all Ukrainians and for me personally. Ukraine has been waiting for this law since its independence. It was not an easy struggle. But we knew we were doing it for Ukrainians," Zelensky said.

The document provides for the formation of the legislative framework for the introduction of market circulation of agricultural land. The law, signed by the head of state, will help ensure the realization of citizens' constitutional rights to manage their property freely and create transparent conditions for the acquisition of agricultural land by Ukrainian citizens.

In particular, the law stipulates that from July 1, 2021, only citizens of Ukraine will be able to acquire ownership of agricultural land with an area of up to 100 hectares. As of January 1, 2024, legal entities owned by Ukrainians will also get this opportunity. They will be able to buy up to 10,000 hectares of land. The sale of state and municipal land is prohibited. According to the law, the question of whether to grant foreigners the right to buy land will be decided in a referendum.

In addition, the law will ensure the full realization of the right of private ownership of agricultural land for Ukrainian citizens. It will contribute to a significant expansion of investment opportunities in the agricultural sector.

The Verkhovna Rada at an extraordinary meeting on March 31 adopted a bill introducing amendments to certain legislative acts of Ukraine on the sale of agricultural land.

Some 259 MPs voted in favor of the relevant bill, No. 2178-10.