Zelenskyy Signs Bill to Strengthen Property Rights Protection for Ukrainian Business

The President of Ukraine Volodymyr Zelenskyy signed a new law aimed at strengthening property rights protection for legitimate land acquirers on April 7, according to RBC-Ukraine.

The bill, titled “On Amendments to the Civil Code of Ukraine to Strengthen the Protection of the Rights of a Good Faith Acquirer,” was passed by the Ukrainian parliament and is expected to improve the country’s investment climate.

According to RBC-Ukraine, the new law sets clear deadlines for law enforcement agencies to file lawsuits against entrepreneurs who acquire land unfairly.

It also outlines a list of objects where the rights of bona fide purchasers do not apply.

Another significant provision guarantees that an entrepreneur will be reimbursed for investments in the event a court orders the return of an asset to the state.

The bill received support from 32 business associations, including the Union of Ukrainian Entrepreneurs (UUE), the Federation of Employers of Ukraine (FRU), and the European Business Association (EBA).

The Federation of Employers of Ukraine believes the law will attract new investments into the Ukrainian economy, while the UUE sees it as a key step toward improving the country’s investment environment.

The Ukrainian parliament had previously adopted the bill in its second reading, with broad support from the business community, which views the law as a step toward creating a more predictable investment climate in Ukraine.

In related news, Estonian Foreign Minister Margus Tsahkna warned that the European Union may be compelled to return €240 billion in frozen Russian assets if Hungary blocks the renewal of sanctions this June.

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