Foreigners to be banned from purchasing farmland in border area

Foreigners to be banned from purchasing farmland in border area

Ukrinform
The final version of Ukrainian farmland circulation bill bans foreigners from purchasing farmland within 50 km of border area.

"Even if the referendum is held, it is forbidden to make deals with foreigners or legal entities founded by foreign nationals [on the purchase] of farmland within the area of 50 km [of the state border]," Mykola Solsky, Chairman of the Verkhovna Rada Committee on Agrarian and Land Policy, said during the public discussion of the final version of the farmland circulation bill at the Ukrinform news agency.

In addition, he said, the legal entities — if their participants are citizens of the aggressor state, or of another state if it is impossible to identify the ultimate beneficiary of such legal entity or if such beneficiaries are registered in offshore zones, are members of terrorist organizations, subject to personal sanctions— are banned from purchasing Ukrainian farmland. The individuals and legal entities that are registered in the countries, which do not cooperate in combating legalization (laundering) of proceeds from crime, will also be banned from purchasing farmland in Ukraine.

On November 13, 2019, the Verkhovna Rada approved the bill on the land market (No. 2178-10) at first reading. In particular, the draft law provides for the lifting of the land sale ban from October 1, 2020. According to the document, persons who can acquire ownership of agricultural land are expected to be citizens of Ukraine, territorial communities, the state, legal entities of Ukraine, foreign nationals and stateless persons in the event of inheritance and the obligation to sell the land within one year.

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