Goncharuk explained how to work the land market

Гончарук объяснил, как будет работать рынок земли

The government must submit to Parliament a draft law on the land market until October

Land reform will provide for the acquisition by foreigners of agricultural land under certain conditions.

After the opening of the land market in Ukraine, the purchase of agricultural land by foreigners will be subject to the registration of a legal entity in Ukraine and paying taxes to the state budget. This was stated by Prime Minister Alexey Goncharuk in the program freedom of speech on ICTV.

“We need to allow land transactions to anyone who has the opportunity now to process, including for foreign citizens, but on the condition that they register a legal entity here in Ukraine, and where they pay taxes,” – said Goncharuk.

According to him, Ukrainian farmers plan to create certain preferences, including compensation of interest rates on loans.

“We plan to Ukrainian was potentially more profitable, than its foreign competitor,” Goncharuk said, adding that access to land market will be to have both individuals and companies.

“We now have large holdings in a cheap resource. A small, much more expensive, they have no resource to buy this land. We need to give a chance to small farmer for the purchase of land to obtain credit for a much lower credit rate, so he was at level with foreign entities or even won. We plan to create a tool which would allow to compensate for this interest rate”, – said Gonchar.

He added that the start of the land reform is tentatively scheduled for summer of next year. By this time the government together with the national Bank needs to make loans in local currency is much cheaper than it is now – to take a loan will be at 14-15% in local currency.

As reported, on the eve of President Vladimir Zelensky instructed the government and Parliament to lift the ban on selling agricultural land until December.

 

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