The issue of opening up the land market in Ukraine is gaining momentum and has become a major topic of discussion for both civil servants, politicians, business representatives, and ordinary citizens. Particularly, participants of the 4th Agrarian Law Conference, held on October 28 in Kyiv, spoke about the land market, as well as raiding in agribusiness, new trends in laws, novelties for agrarians, land and tax reforms, the search for new financial instruments. Yaroslav Romanchuk, attorney-at-law and Managing Partner of the EUCON Legal Group, took part in the Event.
So, the Expert discussed the following issue: “Land Market. Are Farmers Ready for the Borrower and Business Partner Status Requirements”, where he mentioned about possible sources of finding and using financial resources for land purchase not only by businesses but also by ordinary citizens.
Yaroslav Romanchuk outlined the main requirements of the bank / lender for the borrower / farm, namely: “order” in accounting and tax accounting; transparent ownership structure, impeccable reputation of the owner and manager of the farm; a real business plan; loan repayment guarantee and interest payment; the legal “purity” of the land being purchased; compulsory risk insurance when purchasing a land plot; a strategy to protect agribusiness from raiders and lenders.
The event was also attended by: Oleg Klimenko, Managing Partner of ProAgro Group; Taras Vysotsky, Deputy Minister of Development of Economy, Trade and Agriculture of Ukraine; Mykola Solsky, Member of Parliament, Chairman of the Committee on Agrarian and Land Policy of the Verkhovna Rada of Ukraine; Olga Trofimtseva, ex-acting Minister of Agrarian Policy and Food of Ukraine and other.