UKRAINE Trends and Developments Contributed by: Timur Bondaryev, Maryna Sharapa, Andrii Pidhainyi and Olena Yurets, Arzinger
• the total area of agricultural land that can be owned by a citizen of Ukraine is increased from 100 hectares to 10,000 hectares. However, the moratorium on the acquisition of agricultural land still applies to foreigners, State - less persons and foreign legal entities, as well as to any legal entities with foreign founders and/or foreign beneficial owners. Foreigners, Stateless persons and legal enti - ties are prohibited from acquiring shares in the charter capital, stocks or membership of legal entities (except for the charter capital of banks) that own agricultural land. The decision to lift this moratorium and allow foreign participation in the agricultural land market may be made only at an all-Ukrainian referendum. However, such a referendum is not expected to be held soon. New construction rules A law introducing urban planning reform was adopted at the end of December 2022, but is still pending signature by the President of Ukraine (as of April 2023). It provides for: • the digitalisation of administrative and other services in the field of urban development; • the introduction of private urban planning control; • the definition of new criteria and procedures for recognising construction as unauthorised; and • the strengthening of criminal and administra - tive liability for illegal actions, etc.
Also, in the conditions of a full-scale invasion, Ukraine is forced to respond to new challenges and to make new rules and regulations. In 2023, the construction of buildings for temporary residence of internally displaced persons, small houses (up to 500 square metres), certain indus - trial facilities and transport infrastructure was simplified, and new State Building Regulations for civil protection structures came into effect. Certain other drafts are also very important, especially in the seaport and construction sec - tors. For a long time, construction on land occu - pied by waterways (ie, at the bottom of lakes, rivers, seas) was very difficult or almost impos - sible, though there is a draft law regulating the procedure for construction on such land plots, which has been adopted as a basis. Moreover, a draft law has been introduced providing for a clear construction algorithm within the territory and water area of seaports. The adoption of this legislation will significantly expand the opportu - nities for private investment in port infrastruc - ture.
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