Real Estate and Construction Kyiv Client Alert August 2015 Information on Real Estate To Be Publicly Available On 4 August 2015 the President of Ukraine signed Law of Ukraine No. 597-VIII "On Amendments to Certain Acts of Ukraine on Improving Transparency in Property Relations in Order to Prevent Corruption" (the "Law"), which will become effective 2 months after its publication. The Law entitles any person or legal entity to obtain information from the State Register of Property Rights to Real Estate (the "State Register") and the State Land Cadaster (the "Cadaster"). Main Developments The Law authorizes any person or legal entity to obtain information about a real property, as well as about the holder of rights thereto from the State Register in paper or electronic form. Currently only information on registered rights to real estate is publicly available and only a limited number of persons can obtain information on the holder of rights to real property. When the Law becomes effective, any individual or legal entity will be entitled to obtain information on registered land plots from the Cadaster. Currently such information is only available to the owner, tenant and some others. As of 30 June 2015 it has been possible to order an extract from the Cadaster via the Public cadastral map and obtain such extract at any administrative services center. The Law imposes an administrative fine for the submission of false information by an applicant when obtaining information from the State Register or the Cadaster. Expected consequences The changes introduced by the Law are expected to increase transparency and accessibility of information on real property, including land plots. However, proper implementation of the Law will be possible only after the introduction of relevant amendments into the legislation of Ukraine. Additional notes This LEGAL ALERT is issued to inform Baker & McKenzie clients and other interested parties of legal developments that may affect or otherwise be of interest to them. The www.bakermckenzie.com For further information please contact Serhiy Piontkovsky, Managing Partner +380 44 590 0101 Serhiy.Piontkovsky@ bakermckenzie.com Lina Nemchenko, Partner +380 44 590 0101 Lina.Nemchenko@ bakermckenzie.com Baker & McKenzie Renaissance Business Center 24 Bulvarno-Kudriavska (Vorovskoho) St. Kyiv 01054, Ukraine comments above do not constitute legal or other advice and should not be regarded as a substitute for specific advice in individual cases.