Real Estate Law

At the present time, land is still treated separately from buildings under Ukrainian law.

Under current Ukrainian law, investors have choices in terms of using, leasing, and owning property. In addition, Ukraine recent economic growth has introduced new opportunities for investors interested in participating in the Ukrainian real estate market. It is important to understand, however, that there are, for the moment, different regulations for land and for buildings.

Ownership of Buildings

Current Ukrainian legislation permits both Ukrainian and foreign nationals and legal entities to own buildings. In general, the rules relating to the use, disposal, and sale of buildings are set forth in the Civil Code, which guarantees the freedom to sell, rent, and carry out other transactions with buildings. The process of the acquisition of buildings through privatization is also less complicated. In general, provided that the building in question was recorded on the balance sheet of a state enterprise at the time when it was privatized, the successor company has the right to own the building.

Classifications of Real Estate

Ukrainian real estate is classified on the basis of its intended use (i.e. either for residential or non-residential purposes).The specific use should be identified in the lease, the certificate of ownership, or the act of permanent use, as well as in the BTI technical documentation.