The total amount of land controlled by oligarchs, corrupt individuals, and large
agribusinesses is thus over nine million hectares, exceeding 28 percent of the country’s arable land. The
rest is used by over eight million Ukrainian farmers.
Part 6 - What does the new land law change?
The law “On Amendments to Certain Laws of Ukraine on the Conditions of Turnover of Agricultural Land” (Law 552-IX) is a crucial plank of the liberalizing agenda championed by President Volodymyr Zelenskyy. It establishes a land market in several stages.
Starting in July 2021, the law makes it possible for individual Ukrainian citizens to purchase up to 100 hectares. The second stage begins in January 2024 and will raise the limit to 10,000 hectares and permit sales to legal entities. Banks will be able to seize land for nonpayment of a loan, but will have to auction off the land for agricultural use within two years. Individuals or entities that currently lease a piece of land are supposed to receive priority (“pre- emption rights”) when the land is up for purchase.
A longstanding prohibition on foreign individuals and companies buying land in Ukraine will continue, although they retain the ability to lease land.
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