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8/10/2013


Much ado about nothing

 

MyLand - 10/10/2012:

 

Media have already made much ado about nothing when the Parliamen of Ukraine passed a bill specifiying rights of foreigners on land market of Ukraine. The essence of the issue is as simple as follows: due to clumsy wording of the Land code (2001), foreign investors who set up companies in Ukraine without Ukrainian partners, i.e. fully-owned by foreigners companies or citizens, could not acquire any type of land in Ukraine. At the same time foreign companies, incorporated abroad and having their registered sit abroad, could acquire non-agricultural land in Ukraine. Starting from 2005 there were numerous attempts to correct the situation and align rights of the two types of ventures. Finally, Ukraine has made it, and Ukrainian companies 100%-owned by foreigners got the right to buy non-agricultural land plots in the country.

Media screamed that the Motherland was sold by MPs. At the same time expert opinion was mostly to the effect that such legal innovation may not be considered an encroachment under overall prohibition imposed by Ukrainian land law upon foreign farmland ownership.

Finally, President of Ukraine made his statement to the same effect and confirmed that new law made it possible for foreign investors to acquire land plots for building new factories and plants, not farms. All other possibilities were declared groundless.

It is rather unclear at the moment whether this situtaion may change or develop in any way, but it will certainly become clearer soon, upon Parliamentary elections which take place in Ukraine on October 23, 2012.

 

Center for Land Reform Policy in Ukraine - 2012

 

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