Bill on land market in Ukraine adopted in first reading

On November 13, 2019, the Verkhovna Rada (Parliament) adopted in first reading the land market bill No. 2178-10 authored by Agriculture Committee Head Mykola Solsky and a number of other parliament members. 240 parliament members voted for the bill, including:

– 227 MPs from the Servant of the People party;

– 13 non-affiliated MPs.

It was voted against by 52 MPs representing the following factions: ‘Opposition Platform – For Life,’ ‘European Solidarity,’ ‘Fatherland,’ and ‘For Future’ Group.

The land market bill provides for the following:

– lowers the limit on land concentration within one region from 15% to 8%;

– imposes a restriction on land concentration within a united territorial community to 35%;

– introduces a transitional period until January 1, 2024, during which legal entities whose beneficiary owners are foreigners, stateless persons, legal entities established under legislation other than that of Ukraine, and foreign states, shall not be permitted to acquire property rights to agricultural lands owned by the state or community, nor to land shares. The only exception is land being already under lease, emphyteusis of such legal entities when the law comes into force, provided these entities were created at least three years before that time, reports UkrAgroConsult.

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