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[BUYING AND SELLING REAL ESTATE IN UKRAINE]
specifically determined, e.g., co-ownership of spouses). III. Restrictions for foreign investors In general, foreign investors (both individuals and legal entities) may own real estate in Ukraine. However, foreign investors are limited
it is recommended that parties to the transaction obtain valid and up-to-date information about the real estate object in question, verify title to it and the existence of possible encumbrances as well as other details related to the real estate object. In Ukraine, the right of ownership (as well as other rights to real estate), encumbrances of these rights, their commencement, transfer and termination are subject to state registration in the Ukrainian State Register of Proprietary Rights to Real Estate (hereinafter – the “ Register ”). State registration in the Register is considered to be official recognition and confirmation by the state of the facts of acquisition, change or termination of proprietary rights to real estate, and encumbrances of such rights. Information on proprietary rights, and encumbrances of proprietary rights recorded in the Register shall be considered reliable and may be used in a dispute with a third party until the state registration of termination of such rights, and encumbrances within the procedure prescribed by the applicable laws on real estate. Information on registered rights to real estate and their encumbrances contained in the Register is open, publicly available and is charged for. For individuals and legal entities, information on a real estate object and the subject of proprietary right is provided in electronic form through the official website of the Ministry of Justice of Ukraine (https://online.minjust.gov.ua/rrp/), subject to identification of such person (individual or legal entity) by using an electronic digital signature or other alternative means of identification of a person, or in paper form. In some cases, in order to verify title to real estate, it is also necessary to examine other documents related to such real estate such as a sale-purchase agreement of such real estate by which it was initially acquired by the seller,
in the acquisition of plots of land. In case of non-agricultural land:
• foreign individuals are allowed to acquire ownership rights to non-agricultural plots of land: o within settlements o outside settlements where real estate objects belonging to such foreign individuals on private ownership title are located • foreign legal entities (established and registered according to foreign state legislation) are allowed to acquire ownership rights to non-agricultural plots of land: o within settlements in the case of acquisition of real estate objects and for construction of objects related to business activities in Ukraine o outside settlements in the case of acquisition of real estate objects In case of agricultural land, foreign investors are currently prohibited from acquiring (directly or indirectly) agricultural plots of land in Ukraine. However, subject to a positive decision of a referendum in the future, foreign investors (with certain exceptions) may be provided with an opportunity to acquire agricultural land through legal entities established and registered under the laws of Ukraine. IV. Data and documents on titles to real estate Prior to concluding a sale and purchase agreement (hereinafter – “ SPA ”) for real estate,
ILN Real Estate Group – Buying and Selling Real Estate Series
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