Ukraine launches land sales at online auctions

Monday, May 3, 2021
Ukraine launches land sales at online auctions

The Reform legalizing e-commerce would optimize the Land reform and increase investment flows

According to RBC Ukraine resource, the authors of the Land reform №2195 in the second reading filed 776 amendments to the document in the Verkhovna Rada so that each of the bidders had equal rights and opportunities

The Act provides as follows:

  • Public land trading will be exclusively online
  • Documentation, registration and participation are possible from anywhere in the world
  • Lot information will be posted on the online portal in live mode
  • Information on participants until the end of the auction shall be confidential
  • Guarantee contribution equal to 30% of starting price
  • Minimum step not less than 1% of starting price
  • Bidding will take place in 3 rounds: 1 round — 1 rate increase

Additional privileges are granted to farmers: under Reform №2195, farmers can divide large tracts of land into smaller tracts of land and bargain.

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