Russian President Vladimir Putin has signed into law a bill that will allow citizens to lease land for free for up to five years in the Far Eastern Federal District in a bid to attract more settlers to this vast region.

"Russian people will be able to lease one hectare of land in the Far Eastern Federal District for five years for free," said the bill published Tuesday on Russia's official legal information portal.

After five years of use, this one-hectare land will become private property if the land is proved to have been developed. Otherwise, its ownership will be returned to the Russian government, said the document.

During the first year of lease, the land user has to register the intention of land use, and a declaration of actual use has to be submitted after three years, according to the document.

Actual leasing will start on June 1, 2016.

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