What are the restrictions on land acquisition?

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28.02.2024 18:28 569

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Photo of lorina200215 Lorina Fedan

Starting from January 1, 2024, legal entities may purchase agricultural land with a limit of up to 10,000 hectares. However, this can only be done by Ukrainian companies whose shareholders/participants are exclusively citizens of Ukraine, the state or territorial communities. Foreigners, stateless persons and foreign legal entities will receive such a right only if Ukrainians support such a decision in a referendum.

It is also worth noting that the purchase and sale of a plot of land is carried out in compliance with the pre-emptive right to purchase it. The preferential right to purchase a plot of land can be transferred by its subject to another person, about which such a subject must notify the owner of the plot of land in writing. The sequence and the list of entities that have a priority right is established by Art. 130-1 of the Civil Code of Ukraine. They include persons who have a special permit for the extraction of minerals of national importance, and tenants of land plots.

28.02.2024 19:03

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