Only Ukrainian citizens - natural persons, the state and local councils will be permitted to buy land. Legal persons and foreigners will not be able to possess Ukrainian black soil, but they will be able to rent it, Chairman of the Ukrainian Agency for Land Resources Serhiy Tymchenko told a press conference "Agrobusiness: Agricultural Land Market," on Friday, UKRINFORM reported.

Now, the fate of the draft law "On the Land Market" is completely in the hands of deputies and they will decide what this market will be. But there are several main ideological postulates, aired by the President of the state, which will undoubtedly be observed. Thus, the land in Ukraine will be possessed exclusively by the Ukrainian people. The land is permitted to be purchased by only Ukrainian citizens - natural persons, the state and local councils. Legal persons and foreigners will not be able to possess Ukrainian black soils. But they will be able to further rent them," he said.

Tymchenko also noted that despite a large agrarian lobby, the rent will be limited too. In addition, according to him, it is envisaged to introduce limits for land ownership.

"In the recent wording of the draft law this is no more than 100 ha. In order to avoid purchasing of land for straw parties, a potential buyer will be subject to different examinations (of tax bodies, the Antimonopoly Committee, etc.). It will not be profitable to speculate in lands due to a high state duty rate for the secondary sale of lands. The land could be purchased only by those, who will really work on it," Tymchenko assured.
ForUm

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