Have you already heard that the Verkhovna Rada lifted the moratorium on the sale of Ukrainian land? Yes, it finally happened. 03.30. 2020 is the “birthday” of this reform. The law will enter into force only on July 1, 2021. Then it will be possible to freely buy and sell land.
This law has been awaited for almost twenty years of independence. Adopted at first reading in November 2019. After that deputies considered 4000 changes. Unfortunately, in 3 months the final text of the bill has changed significantly.
In the first years of the “free” land market, it will be possible to buy no more than one hundred hectares in the hands of one citizen of Ukraine.
And only in 2024 it will be the opportunity to buy up to ten thousand hectares. Especially that for the period from 2021 to 2024 the right to purchase land will belong only to individuals. The sale of state-owned land is forbidden to sell. Banks will not be able to buy Ukrainian land, but may become a temporary owner if the loan collateral procedure requires it. Until 2030, there will be a rule at which the sale price of agricultural land cannot be lower than the normative monetary value.
Is it possible to sell land to foreigners?
So far, the document states that only citizens of Ukraine can buy land. It is possible to change this only in case of the corresponding decision of the people during carrying out of a referendum. It is important to note that regardless of people’s decisions, foreigners will not be able to buy land in the 50-kilometer zone from the state border.
What is the benefit to citizens?
According to experts, the land law was an important condition for Ukraine’s cooperation with the IMF. This will allow you to get money during the crisis. However, the economic effect will be very small, due to the fact that in fact the moratorium on land purchases will exist for several more years and will work properly only in 2024.
However, we should not forget that every citizen of Ukraine has the right to receive a free plot of land. This requires certain bureaucratic procedures, but now it is possible to earn money by opening the land market for individuals.
You can get more information from the UNIEXPERT portal. It is time to seize the opportunities for citizens that they have through the Constitution.
