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How to buy agricultural land in Ukraine (without limitations)?

authors: Maxim Oleksiyuk, Viktoriia Minets

05 July, 2021 Exclusive

Starting from July 2021 the land market has been launched in Ukraine. Many politicians claim that only citizens of Ukraine will be able to acquire agricultural land in the early stages of the reform. Later the Ukrainian legal entities will also gain the right to purchase agricultural lands; while foreign investors won’t have such right (at least until respective decision is approved by all-Ukrainian referendum).

Indeed, formally the Law of Ukraine “On Amendments to Certain Legislative Acts of Ukraine on the Conditions of Circulation of Agricultural Land” (the Law on Land Market) prohibits the acquisition of agricultural land in favor of foreign (or stateless) individuals and legal entities whose shareholders are foreign citizens, and foreign or Ukrainian legal entities. It is also prohibited to conclude a preliminary purchase and sale agreements of agricultural land or to issue power of attorney for its sale in favor of legal entities while they don't have the right to acquire such lands (Ukrainian legal entities will get such right on January 1, 2024).

However, professional lawyers can easily elaborate instruments for acquisition of control over agricultural land in Ukraine by institutional investors (including foreign ones) in full compliance with the Law on Land Market. The main players in this new land market should be the Ukrainian banks1, control or partnership with which opens for investors almost unlimited agricultural land market.



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