The Ministry of Economic Development, Trade and Agriculture welcomes the adoption in the second reading of the draft of law 2178-10 "On Amendments to Certain Legislative Acts of Ukraine on the Circulation of Agricultural Lands". The launching of the land market scheduled for July 2021.
"Today is very important that the political forces have been able to find a consensus, add additional safeguards to the draft law and open a new page in Ukrainian history. Now our main task is to prepare for the launching of the land market and to create all the necessary conditions for the farmer to access loan, to prevent raiding and to set rules of the game that would allow us to create new jobs. We start consultations with agrarians and create a special working group on the implementation of this law", - said the Minister of Economy, Agriculture and Trade Igor Petrashko.
The draft of law defines the key parameters of the performance of the land market.
Thus, the document provides for the phased introduction of agricultural land circulation:
- from July 1, 2021 until January 1, 2024, only individuals-citizens of Ukraine will be able to buy agricultural land;
- as of January 1, 2024, legal entities may also be purchasers.
Until January 1, 2024, restrictions on the acquisition of the agricultural lands with a total area of up to 100 hectares will apply to citizens. This restriction does not apply to the lands acquired by a citizen before the law enters into force.
The ban on the sale of agricultural land of state and communal ownership envisaged, it would remain a state strategic reserve.
Ministry of Economy
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