Expansion of the mechanism for guaranteeing property rights to future real estate

29/06/2023

On June 16, 2023, Government Resolution No. 596 of June 13, 2023, came into effect, which pertains to the implementation of the requirements of the Law of Ukraine "On Ensuring Real Property Rights to Future Immovable Property Objects."

This document approves the procedure for extending the application of the mentioned Law to construction objects and their component parts, which, upon completion of construction, will become separate immovable property objects such as apartments, garage units, other residential or non-residential premises, parking spaces, etc.

Developers will be able to register real property rights to future immovable property if the construction permit was issued before October 10, 2022, when the Law "On Ensuring Real Property Rights to Future Immovable Property Objects" entered into force.

In the near future, the possibility of submitting applications for the registration of property rights through the Unified State Electronic System in the construction sector (EDSSB) will be introduced.

Information about the date of obtaining a construction permit can be verified in the Register of Construction Activities on the portal of the Unified State Electronic System in the construction sector under the section "Declarative and Permitting Documents."

How we can help

We recommend contacting us if you are interested in understanding how the new legislation in the real estate sector will impact your business. SCHNEIDER GROUP's experts can provide consultation regarding the procedure for obtaining a construction permit.

About SCHNEIDER GROUP

Since 2006 SCHNEIDER GROUP has been supporting international companies expanding to Ukraine. Our portfolio includes a full scope of services: from market analysis and partner search to complete accounting outsourcing, legal and tax consulting, and interim management services. We take over all non-core business functions so that our clients can focus on developing their business. We help our clients establishing subsidiaries in Ukraine compliant with local legislative requirements and transparent for international management. Our experts offer advice on best practices to optimise processes, reduce risks and minimise costs.

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