Land

Investing in land is becoming more and more attractive. According to the Land Code of Ukraine, agricultural land plots shall not be deemed to foreign citizens, stateless persons, foreign legal entities and foreign countries on the basis of property title. This restriction is also applied to land plots inherited by a foreign citizen as well as by a legal entity. In such a case, the ownership right to a land plot has to be mandatory transferred to a person or legal entity, which has the right to receive property title to an agricultural plot. At the same time, foreign citizens and stateless persons shall have the right to acquire property title to non-agricultural land plots in residential areas as well as non-agricultural land plots beyond resi­dential areas, on which real estate objects owned by respective persons are located. Besides, foreign legal entities shall have the right to acquire property rights to non-agricultural land plots in residential areas in the event of acquisition of real estate objects as well as for the purpose of con­structing real estate objects related to business activities conducted in Ukraine and beyond residential areas in the event of acquisition of real estate objects.

Lexwell & Partners, with its experienced and skilled team of lawyers represented by Andrei Kolupaev and Yuriy Katser, earned high marks for land-related matters. The firm recently advised a world leading automobile company and international building ma­terials group on structuring land purchase and lease, conducted legal due diligence of title documents, drafted sale-purchase and lease agreements, prepared a set of necessary documents for formalization of the land rights and conducted necessary registration with local authorities.