Column 10:39 26 Jan 2021

Buy/sell land. What do you need to know about documents?

On July 1, 2021, the Law of Ukraine on the opening of the land market will come into force. In other words, agricultural land can be sold.

Only private persons, citizens of Ukraine, can buy land. In the first two years, it allows only 100 hectares of land to be sold in one hand. Legal entities may purchase land only from January 1, 2024, and not over 10 thousand hectares.

State-owned and communally owned agricultural land cannot be sold. The land is not sold to foreign citizens and companies.

Domestic banks can own land plots only within the limits of lien collection, and such plots must be alienated at auction within two years. Payments for land are made only in non-cash form, and the price of the plot cannot be lower than its normative monetary value.

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