Launch a Marketplace for the Sale of Agricultural Land

Thursday, June 24, 2021
Launch a Marketplace for the Sale of Agricultural Land

Dmytro Dubilet, a former minister of the cabinet of ministers and one of the founders of Monobank, has launched a platform for the sale of agricultural land

"The idea is simple: owners of shares will be able to put an ad on our website and start receiving offers from potential buyers. Buyers, in turn, with the help of a convenient filter system will be able to find interesting land and make offers on it," said Dubilet.

At the same time, he noted that the implementation of such an idea turned out to be very difficult.

"First, the process of buying/selling land turns out in our country quite confusing. It involves notaries, banks, appraisers, tenants with a priority right of redemption. We have worked out this process in detail, and our support service will help sellers at all its stages. Secondly, we have integrated with many systems. For example, with a satellite imagery system to display for each plot detailed data on meteorological history and crops grown. Third, we understand that landowners are often rural residents of age. Therefore, we are developing a network of our representatives in the regions, who will help sellers at all stages," said the former minister.

Dubilet added that now there is an opportunity to submit information about one's share on the website.

"Our helpdesk will already help assess whether all the documents are in order, as well as estimate the potential value. In July, when the market will be launched, the site will work at full capacity," summarized Dubilet.

On the night of March 30 to 31, the government adopted a law on introducing the agricultural land market.
It stipulates that the market should be valid from July 1, 2021 (previously it should have been valid from October 1, 2020), after which only natural persons will be able to buy land for two more years and not more than 100 hectares.

For legal entities, the land market will start operating in 2024. In this case, companies will be able to concentrate on their ownership of up to 10 thousand hectares.

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