Our Ukrainian PRK Partners team understands the expectations of entrepreneurs and the specifics of conducting business under martial law very well. To insure investments against the risks of war, Ukraine already cooperates with the World Bank’s MIGA agency and the American DFC agency. We offer the most pertinent information in our complimentary monthly digest spurring businesses to work on investment projects now to avoid losing time once the war ends.
New for Investors:
- On 3 January 2023, the Government of Ukraine set the minimum share guarantee of real estate construction as a percentage of the total area of future real estate units in the divisible unfinished construction (queue/launch complex) in accordance with the project documentation in the amount of: 10% for the cities of Kyiv, Dnipro, Lviv, Odesa, and Kharkiv; and 5% for other locations. This means legislators want to stop the negative trend of completing buildings at the expense of natural persons/future owners and aim to stimulate the developer to perform the work properly and on time. This decision is also important in view of the launch of the eProperty (Ukrainian “єОселя”) mortgage lending program on the primary real estate market that started in October 2022.
- The National Agency of Ukraine for the Identification, Search, and Management of Assets Obtained from Corruption and Other Crimes (abbreviated as “ARMA”) issued an order dated 30 January 2023 to launch the Unified State Register of Assets Seized in Criminal Proceedings. The concept for the registry is quite large-scale and goes far beyond the scope of a database of seized assets that have been transferred to ARMA.