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Ukraine's land reform will allow foreigners to buy land: Prime Minister announced the conditions

The land reform, which is being developed by the new Ukrainian government, will allow foreigners to acquire agricultural land.

This was announced by Prime Minister Oleksiy Honcharuk on September 2 on ICTV channel.
“We need to choose the model that gives the greatest economic growth. This means that we need to allow land transactions for all who have the opportunity to process it now, including foreign citizens, but provided that they register a legal entity in Ukraine and pay taxes here," Honcharuk stated.

At the same time, the Prime Minister emphasized that the state should create an opportunity for small farmers to buy land at no worse conditions than those offered to large companies and foreigners.

“We plan to start the land reform tentatively in the summer of 2020. We expect that by that time lending in the hryvnia will be much cheaper than it is now - taking a loan in the hryvnia will be possible at 14-15%,” Honcharuk said.

Honcharuk has also noted that the final parameters of such a mechanism have not yet been determined, but assured that the land market will not be launched before its formation.