Rada allows foreigners to buy non-agricultural land

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Oct. 3, 2012, 6:28 p.m. | Ukraine — by Interfax-Ukraine

Parliament has extended the range of persons who can buy non-agricultural land.

The Ukrainian parliament has extended the range of persons who can buy non-agricultural land, adding companies, whose charter capital includes foreign investment (joint ventures, enterprises with foreign investment) and international governmental and nongovernmental organizations.

Some 234 of the 307 registered MPs voted for the adoption of the law on amending the Land Code of Ukraine concerning the acquisition of the right to land ownership.

The law is aimed at legislating the possibility of acquiring state and municipal land plots by legal entities established under the laws of Ukraine and foreign states. Thus, land buyers can be foreign companies, companies with foreign investment in charter capital, legal entities established under the laws of foreign countries, foreign states, and international governmental and non-governmental organizations.

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