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Foreign companies are allowed to buy Ukrainian land

October 2, 2012 Parliament of Ukraine ( http://iportal.rada.gov.ua/ ) adopted the Law of Ukraine "On Amendments to the Land Code of Ukraine concerning the acquisition of land ownership which provides the right of foreign law firms, companies with foreign investments to acquire ownership on agricultural land within and outside settlements.

This law extends the guarantees of investments of foreign entities in the Ukrainian economy. Foreign companies receive the right own and dispose of their land, regardless of the other persons, to build new facilities on their land for the development of their production potential and to be completely sure in their rights to these objects. This law provides the right subjects of to acquire land not only in order to profit (for use in business), but also for the conduct of non-commercial activities(public Organization)

This law gives the right to legal entities to own the right of private ownership of land outside the settlements in the event of the acquisition object of immovable property, which are located on such land plot.

The law provides the opportunity to acquire ownership of the land only for legal entities, foreign physical persons are not accorded this right.

These changes in the Ukrainian legislation positively displayed on the activities of foreign investors, create a more favorable climate for attracting investment to Ukraine.