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President Zelenskyy signed Land Turnover Law
28 April 2020, 15:21
President of Ukraine Volodymyr Zelenskyy has signed the Law No. 552-IX "On Amendments to Certain Legislative Acts of Ukraine Regarding the Turnover of Agricultural Land" today, April 28, 2020.
"This is a historic moment for all Ukrainians and for me personally. Ukraine has been waiting for this law since gaining its independence. It has been hard won. But we knew that we were doing it for the Ukrainians," Volodymyr Zelenskyy stated.
The Law comes into force on July 1, 2021. The right to purchase land upon the opening of the market is given exclusively to Ukrainians.
Starting from January 1, 2024, legal entities owned by Ukrainians will also be authorized for purchasing farmland. They will be allowed to buy up to 10 thou. ha of land. The Law does not provide for state and municipal land sale.
It will be decided at a referendum if foreigners can be admitted to the land market in Ukraine.
