The legislation of Ukraine on agricultural lands turnover is one of the most conservative in the world, prohibiting alienation of most types of agricultural lands. This prohibition is likely to be lifted soon, but there are intense debates whether foreigners should be allowed to purchase agricultural lands. By virtue of Article 145 of the Association Agreement between Ukraine and the European Communities Ukraine has a duty to implement the principle of free capital movement, in particular by abolishing restrictions on acquisition of land by foreign citizens and companies (Articles 22, 81, 82 of the Land Code of Ukraine). In case Ukraine fails to introduce the necessary amendments, the provisions of Article 145 of the Association Agreement should be applied directly. The formal unconditional obligation of our country to remove the said obstacles to free capital movement serves its best interests. Today, turnover of agricultural lands in Ukraine should be very dynamic, and it should be governed by general rules applicable to immovable property.