Zelensky (right) is signing the farmland bill into law / Photo from president.gov.ua
The law will enable the realization of citizens' constitutional rights to dispose of their property freely.
Ukrainian President Volodymyr Zelensky has signed a bill into law to amend certain legislative acts of Ukraine on the conditions of circulation of farmland No. 552-IX, which was approved by the Verkhovna Rada on March 31, 2020.
"This is a historic moment for all Ukrainians and for me personally," the presidential press service quoted the president as saying on April 28. "Ukraine has been waiting for this law since independence. It was a difficult struggle. But we knew we were doing it for Ukrainians."
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The document provides for the formation of a legislative framework for the introduction of market circulation of agricultural land. The law will enable the realization of citizens' constitutional rights to dispose of their property freely and create transparent conditions for the acquisition of agricultural land by Ukrainian citizens.
The law provides for gradual land reform: from July 1, 2021, only individual citizens of Ukraine will be able to buy up to 100 hectare of agricultural land. During the second stage, which starts on January 1, 2024, the limit will grow to 10,000 ha, and legal entities will also be able to buy farmland.
Arable land shall not be sold to foreigners, legal entities with foreign shareholders and legal entities whose beneficiaries cannot be identified or whose beneficiaries are registered in offshore zones, as well as to persons under special economic and other sanctions.