On Tuesday, the Verkhovna Rada of Ukraine adopted in full the law on amendments to the Land Code of Ukraine concerning the acquisition of land titles.

The law provides that agricultural land ownership rights cannot be obtained by foreigners, stateless persons, foreign enterprises and enterprises in the authorized (share) capital of which there is a foreign investment (joint ventures and enterprises with foreign investments), legal entities established in accordance with the laws of foreign countries, foreign governments, international governmental and non-governmental organizations (except for gaining such land by inheritance).

Legal entities established in accordance with the laws of Ukraine may receive ownership titles to land for business activities in the cases of acquisition by civil contracts, entity founders' including land lots into authorized (share) capital, inheritance, or other grounds provided by law.

Legal entities established under the laws of foreign countries may receive ownership titles to non-agricultural land in settlements in the event of the acquisition of real property and for the construction of facilities related to the implementation of economic activity, outside settlements in the case of purchase of real estate.

Legal entities established under the laws of foreign countries, foreign enterprises, enterprises in the authorized (share) capital of which there is foreign investment (joint ventures, enterprises with foreign investments) may acquire ownership titles to privately-owned non-agricultural land in a number of cases.

The law comes into force on the day following the day of its publication.

Ukrinform