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Zelensky signs law on opening of land market

Source : 112 Ukraine

On March 31, the Ukrainian parliament adopted the law by 259 votes
15:46, 28 April 2020

Official website of the President of Ukraine

President of Ukraine Volodymyr Zelensky signed the law on the opening of the land market, as the President’s Office reported.

“The document provides the forming of the legislative framework for implementation of the market turnover of the agricultural lands. The law, which was signed by the head of the state, would allow to provide the implementation of the constitutional rights of the citizens for the free disposition of their property and create transparent conditions for the purchase of ownership of land plots of the agricultural purpose by the citizens of Ukraine,” the message said.

Related: Court is asked to ban signing of ‘land market’ law

As we reported before, the Verkhovna Rada adopted a committee bill on the opening of the agricultural land market No. 2178-10. 259 MPs voted to pass the bill.

According to the law, ordinary Ukrainians can be market participants until 2024. Legal entities, created directly by citizens of Ukraine, the state, and territorial communities are allowed to purchase land since 2024.

Adoption of this law and the law banning the return to the former owners of nationalized banks is one of the key requirements of the International Monetary Fund, due to which Ukraine has not yet received a new credit program.

 

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