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Posted by Nick on July 10, 2004 at 09:33:16:
Property Laws
Applicable Ukrainian legislation provides for three forms of ownership: (i) private, (ii) collective and (iii) state. All three forms are deemed equal and in theory should enjoy equal privileges. Ukrainian citizens and legal entities are permitted to own all types of property except those types, which are directly prohibited from private ownership.
Ukrainian law provides that foreign legal entities, as well as joint ventures, international organizations, foreign citizens and persons without citizenship may own property in Ukraine. Foreign individuals are specifically allowed to
own residential buildings, apartments, summer cottages and other objects of "personal use" (e.g. automobiles). Foreign legal entities are specifically permitted to own "buildings, facilities and other property of a social, cultural or industrial character."
There is no legal requirement for a foreign individual or foreign legal entity to establish any form of residency or presence (e.g. a representative office or a branch) prior to or as a condition for acquiring property in Ukraine.
Ukrainian citizens may own land in Ukraine for a limited number of purposes, including agricultural needs and the construction of a private house or other dwelling.
Ukrainian legal entities may own land (in the form of "collective ownership") for agricultural purposes only. As a general matter Ukrainian citizens or legal entities needing to use land may only do so on the basis of so-called "rights of use" or through a lease.
In contrast, foreign individuals and foreign legal entities are not permitted to own land in Ukraine or to obtain "rights to use" land. They may only lease land. As amateur of practice, however, foreign legal entities and individuals who have purchased buildings do obtain the right to use the land surrounding the building on the basis of Article 30 of the Ukrainian Land Code.
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