Foreign legal entities and subsidiaries of foreign companies (Ukrainian legal entities with foreign investment) are not authorised to own agricultural land [scored under the agriculture sector as the OECD FDI RR Index methodology]. With regard to non-agricultural land, foreign legal entities and joint ventures founded with foreign participation may acquire ownership titles to the following: (i) Land plots within settlements in case of a purchase of real estate/construction of real estate objects on such plots connected with business activity in Ukraine; and (ii) Land plots outside settlements in case of a purchase of real estate objects located on such plots. Hence, there are no restrictions in respect of ownership of non-land real estate assets; only the ownership of vacant land not for business purposes by foreigners is prohibited.
"Article 81. Ownership of land [...]
2. Foreigners and stateless persons may acquire ownership rights to non-agricultural land plots within settlements, as well as to non-agricultural land plots outside settlements where real estate objects owned by them on private property rights are located.
[...]
Article 82. Ownership of land by legal entities
1. Legal entities (founded by citizens of Ukraine or legal entities of Ukraine) may acquire land plots for business activities in the case of:
a) purchase under a contract of sale, rent, gift, mine, other civil law agreements;
b) contribution of land plots by its founders to the authorized capital;
c) acceptance of inheritance;
d) the emergence of other grounds provided by law.
2. Legal entities established and registered in accordance with the legislation of a foreign state may acquire the right of ownership over non-agricultural land plots:
a) within settlements in the case of acquisition of real estate and for the construction of facilities related to business activities in Ukraine;
b) outside the settlements in the case of acquisition of real estate.
[...]
Article 130. Acquisition of the property right to agricultural land plots
1. Acquire the right of ownership of agricultural land may:
a) citizens of Ukraine;
b) legal entities of Ukraine established and registered under the legislation of Ukraine, the participants (shareholders, members) of which are only citizens of Ukraine and / or the state and / or territorial communities;
c) territorial communities;
d) the state. [...]
Foreigners, stateless persons and legal entities are prohibited from acquiring shares in the authorized (composed) capital, shares, stakes, membership in legal entities (except in the authorized (composed) capital of banks), which are owners of agricultural land. This paragraph shall cease to be valid subject to and from the date of approval by referendum of the decision specified in the eighth paragraph of this part.
Acquisition of ownership of agricultural land by legal entities established and registered under the legislation of Ukraine, participants (founders) or ultimate beneficial owners of which are persons who are not citizens of Ukraine, may be carried out from the date and subject to approval of such a decision by referendum.[...]" (Land Code (№ 2768-III of 25.10.2001), last amended by Law № 1788-IX of 24.09.2021, Articles 81, 82 and 130 [google translation])
Land Code (№ 2768-III of 25.10.2001), last amended by Law № 1788-IX of 24.09.2021, Articles 81, 82 and 130
[<a href="https://zakon.rada.gov.ua/laws/show/2768-14#Text">Code</a>]