such persons during the established term (one year) is not alienated, this land is subject
to compulsory alienation under the court decision. There is a direct risk of loss of
ownership on the land. Moreover, such cases exist, although they directly violate
Article 1 of the First Protocol to the Convention for the Protection of Human Rights
and Fundamental Freedoms, ratified by Ukraine on 17.07.1997. In the case of
Zelenchuk and Tsytsyura v. Ukraine (application nos. 846/16 and 1075/16) the
European Court of Human Rights held, unanimously, that there had been: a violation
of Article 1 of Protocol No. 1 (protection of property) to the European Convention on
Human Rights [29]. The case concerned a complaint by two people about a State ban
on the sale of farm land, which they said had violated their property rights as the owners
of such land. The Court observed that after the fall of the Soviet Union Ukraine had
mostly distributed farm land to people who had previously worked on collective farms
but had introduced, supposedly on a temporary basis, a ban on the sale of such land,
known as the “land moratorium”. The Government had argued that the measure
prevented the concentration of land in a few hands, stopped rural people becoming
poorer and made sure land stayed in cultivation.
The Court held that the Government should take legislative measures to ensure
the required fair balance for owners of farm land, although that did not mean Ukraine
had immediately to introduce an unrestricted market in agricultural land. No monetary
compensation was awarded to the applicants [29].
Despite the farm land moratorium, foreign legal entities obtain title on
nonagricultural land:
а) within conglomerations – if they purchase real estate or the entrepreneur
objects construction for doing business in Ukraine;
b) beyond conglomerations – in case of real estate purchase.
Joint entrepreneurs, founded by foreign legal entities and individuals, obtain title
on nonagricultural land in cases, specified by the Part 1 and 2 of the Article 81 of the
Land Code of Ukraine, and order, established for foreign legal entities by this Code
[28].
The land where the objects under construction of foreign legal entities, citizens of
foreign states, stateless persons, joint entrepreneurs, international associations and
organizations are situated may be only leased by them.
4. Corporate rights investments. The legislation of Ukraine doesn’t prohibit
foreign investments in corporate rights in Ukraine. Moreover, the legislation doesn’t
establish restrictions dealing with the scope of corporate rights of foreign investors in
particular companies for national interests’ protection.
According to the Section 4 of the Part 1 of the Article 116 of the Civil Code of
Ukraine, members of the business partnership enjoy the right on shares, securities
assignment in order predicted by the law [2]. The Article 20 of the Law of Ukraine “On
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