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You're reading: Regions Party lawmaker proposes to expand circle of non-farmland buyers

Lawmaker from the Regions Party Valeriy Kharlim has proposed to expand the circle of persons who can buy non-farmland, enlarging it with companies that have charter capitals with foreign investment (join ventures and companies with foreign investments) and international governmental and nongovernmental organizations.

Draft law No. 11128 on amendments to the Land Code of Ukraine regarding the acquisition of ownership rights to land, which was registered in parliament on August 31, 2012, was published on September 3, 2012.

“The conceptual idea taken as a basis for the draft is improving Ukrainian law with regard to expanding the range of persons who can buy land plots and removing obstacles for attracting foreign investment into the Ukrainian economy,” reads an explanatory note to the draft.

The document aims to give companies created in line with Ukrainian law and the laws of foreign states the possibility of buying land plots in state and municipal ownership.

Thus, buyers of land can be foreign companies, companies that have charter capitals with foreign investment, companies created in line with laws of foreign states, foreign states and international governmental and nongovernmental organizations.

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