17:16 13.11.2019

Rada adopts bill on farmland turnover in first reading

3 min read
Rada adopts bill on farmland turnover in first reading

Verkhovna Rada has adopted bill No.2178-10 "On farmland turnover" that foresees the abolition of the ban on sale of farmland of all forms of ownership from October 1, 2020.

A total of 240 MPs, of whom 227 members of Servant of the People faction and 13 independent parliamentarians, voted in favor of the respective decision on Wednesday.

As reported, a group of MPs from the Servant of the People parliamentary faction, including the head of the profile committee Mykola Solsky, registered updated farmland bill No. 2178-10 in parliament.

According to the document, citizens and legal entities of Ukraine, territorial communities, and the state can buy farmland.

Purchase of land by companies, in which the ultimate beneficiary is a foreigner, foreign states, citizens with no citizenship is banned by January 1, 2024. Though, the agricultural companies operating on the Ukrainian market for over three years would be able to buy farmland which they lease as of the date of the opening of the market, October 1, 2029.

At the same time, the bill proposes to deprive individuals and legal entities, foreign states that are subject to the sanctions law, of the right to purchase land.

"Foreigners and stateless persons may obtain ownership rights to farmland by succession prescribed in the law, but are required to sell them within one year from the date of obtaining ownership rights," the government said in the document.

The bill sets the minimum starting price for the sale of land plots in public and communal property at land tenders at a level not lower than the standard monetary value, ensures the right of citizens to buy back land for farming, owned by them on a permanent use right basis and inherited tenure rights in installments paid during up to five years at a price equal to the standard monetary value of such land plots.

The document provides the tenant's pre-emptive right to purchase a land plot, provides for the obligation of the state registrar to place information on the price (value) of property rights, including use rights, in the register of ownership rights.

The total area of farmland owned by a citizen or a legal entity of Ukraine, taking into account affiliated persons: within one united territorial community should not exceed 35% of farmland of such a community, within one region – 8% of farmland of such an area and 0.5% of farmland of Ukraine, according to the bill.

In addition, in order to obtain data on the total area of farmland owned by one person and affiliated persons, the software of the State Land Cadastre must provide information interaction with the public register of ownership rights to real estate and the unified public register of legal entities, individual entrepreneurs and public organizations.

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