The Sacramento Bee: Ukraine allows foreign residents to buy land

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Oct. 4, 2012, 5:25 p.m. |

A farmer reaps grain in combine harvesters on land near Zhovtneve village, in the region of Chernigov, some 220km north of Kyiv on Aug. 11, 2009.

Non-citizens and companies with foreign capital are now allowed to buy nonagricultural land in Ukraine. According to the amendments to the Land Code the Ukrainian parliament passed on October 2nd, legal entities may become owners of land when buying real estate or purchasing land within residential areas for business operations purposes. These legislation changes are part of the current land reform in Ukraine. So far, the parliament introduced bills on the creation of a state land bank and land cadastre. Another anticipated document on the land reform is the Law of Ukraine "On Land Market". The respective draft law is currently submitted to the parliament.

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