Land market opened for legal entities in Ukraine: what changes have been made
Since the beginning of January 2024, Ukraine has seen significant changes in land relations, as the land market has been opened for legal entities. This marks the beginning of a new stage of land reform in the country, which expands the range of opportunities for the acquisition and circulation of agricultural land. Details in our material
On January 1, 2024, a law opened the land market to legal entities in Ukraine. This marks the beginning of the second stage of the land reform, as now agricultural land is available for purchase not only to individuals but also to legal entities such as companies, banks and territorial communities.
Land market in Ukraine opened for business: details
As you know, in April 2020, President Volodymyr Zelenskyy signed a law lifting the moratorium on land sales in Ukraine. For two years, starting in July 2021, only individuals could purchase land with a limit of 100 hectares. Now legal entities have also been given this opportunity. This applies to enterprises and institutions owned by Ukrainians.
Please note! Foreigners are not eligible to purchase land.
The amendments also include an increase in the permitted size of plots to 10,000 hectares. There are no restrictions on the sale price, but the plot cannot be sold at a price lower than the normative monetary value.
Prior to the introduction of the land market in Ukraine, the only methods of land transfer were through lease or inheritance. Now, land can be bought, provided that all members of the company are Ukrainian citizens. One company cannot purchase a plot of land larger than 10,000 hectares, according to Law No. 552-IX. The state and territorial communities can also acquire land ownership.
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Sale and purchase of land
It is important to note that land reform in Ukraine began in 1990, but the land market was opened only in 2021. This included decentralization of land management, digitalization of services, restoration of irrigation and drainage systems, and countering land raiding.
During the two years of land reform, by July 2023, about 275,157 hectares were sold in Ukraine, which is 1% of the total land area. The average price per hectare was approximately UAH 39 thousand. However, with the opening of opportunities for legal entities, prices may rise.
We remind you! Earlier we wrote that starting from January 1, 2024, Ukraine will introduce significant changes that will affect various spheres of life. One of the key initiatives is the expansion of mobilization activities and the increase in the minimum wage. Find out more about what will change and what updates to expect here.
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