A bill proposed in parliament to lift the longstanding ban on the sale of agricultural land rules out foreigners.
Ukraine’s state land committee on Jan. 25 published its draft law on reforming the land market, inviting public discussion of legislation that needs to be enacted before the longstanding ban on existing agricultural land sales can be lifted.
The bill will next need approval by the government, before being submitted to parliament. A further bill, on the land cadastre, also needs to be enacted before the ban can be ended, which senior officials have said they hope to do this year.
Dragon Capital, a leading Kyiv-based investment bank, praised the start of the process, but said the draft bill envisaged a ban on foreigners and foreign legal entities acquiring agricultural land in Ukraine.
“However, we should note that this provision as well as the document’s other articles may be revised significantly before final approval,” Dragon analysts wrote in a note to investors.
