Ukraine's farmland market: Finalized bill stipulates no more 10,000 ha per person

TWITTER
FACEBOOK
TWITTER
FACEBOOK
Head of the Verkhovna Rada Committee on Agrarian and Land Policy, Mykola Solsky (Photo: UNIAN)
UNIAN | 14 January 2020

Ukraine's farmland market: Finalized bill stipulates no more 10,000 ha per person

A citizen of Ukraine will be able to buy no more than 10,000 ha of farmland, even if he or she has a company that can buy land as a legal entity. 

Head of the Verkhovna Rada Committee on Agrarian and Land Policy Mykola Solsky says under the draft law on the land market, which is expected to be submitted for the second reading, the area of farmland is limited to 10,000 hectares (ha) per entity – this concerns both individuals and legal entities.

"The limit is set at 10,000 ha, according to the relevant procedures. That is, one individual cannot own more than 10,000 ha [of farmland], while one legal entity cannot own more than 10,000 ha" he told the RBC Ukraine news outlet on January 13. A citizen of Ukraine will be able to buy no more than 10,000 ha of farmland, even if he or she has a company that can buy land as a legal entity.

"What happens if an individual – a citizen of Ukraine – has acquired 1,000 ha [of farmland], being a founder of a legal entity which also bought 5,000 ha. This means that the individual has 6,000 ha in total. So, the said individual or his/her legal entity may additionally buy only 4,000 ha to have the 10,000 ha," he added.

Earlier, the Committee on Agrarian and Land Policy presented the finalized bill on the farmland market.

The document says that only individuals who are citizens of Ukraine, legal entities established by citizens of Ukraine, the state, and local communities can be players on the farmland market.

As UNIAN reported earlier, the Committee on Agrarian and Land Policy recommended at a meeting in late December that the Verkhovna Rada, Ukraine's parliament, pass a draft law on the farmland market. Chairman of the Verkhovna Rada Dmytro Razumkov said that the parliament needed to adopt a number of documents so that the market could be launched in late 2020. 
Original source: UNIAN
TWITTER
FACEBOOK
TWITTER
FACEBOOK

Post a comment

Name

Email address (optional - if you want a reply)

Comment