On April 28, 2020, the President of Ukraine signed the Law of Ukraine “On Amendments to Some Certain Legislative Acts of Ukraine Regarding the Turnover of Agricultural Land” (No 552-IX) which the Verkhovna Rada adopted on March 31, 2020. 

The main provisions of the adopted bill include:

  • The opening of the land market is scheduled for July 1, 2021.
  • Until January 1, 2024, only individuals who are Ukrainian citizens will be eligible to buy land.
  • The sale of land in one hand in the first two years after the start of the land reform is limited to 100 hectares.
  •  As of January 1, 2024, Ukrainian legal entities will be allowed to buy land at a concentration of no more than 10 thousand hectares (There is no restriction of 10.000 ha of agricultural land for Banks).
  • Admission of foreigners to the purchase of land on the territory of Ukraine will be possible only after the relevant decision is taken through a national referendum.
  • Agricultural lands of state and communal property will not be sold.
  • Payment for the purchase of plots will be made only in noncash transfers.
  • A land plot can be bought exclusively with a cash-free payment with verification of the origin of funds.
  • Banks may own land plots within the limits of collateral; such plots should be disposed through the auction within two years.
  • Legal entities, whose members are citizens of the aggressor state, individuals against whom sanctions are imposed are prohibited to purchase land, even if a referendum is held.
  • Foreign citizens are forbidden to purchase land in the 50 km zone from the state border of Ukraine, regardless of the decision adopted through the referendum.
  • The sale price of agricultural land plots cannot be lower than their normative monetary valuation; such a standard will be in effect until January 1, 2030.