On 24 May 2017, the Cabinet of Ministers of Ukraine resolved to introduce an electronic service that allows legal entities and individuals to obtain extracts on state registration, change or termination of encumbrances over the movable property.

The Resolution of the Cabinet of Ministers No. 386 dated 24 May 2017 (the “Resolution No. 386”) introduces the following long-awaited innovations:

  • an extract from the State Register of Encumbrances over the Movable Property (the “Register”) can be obtained by any legal entity, individual and official of state authority within their respective authorities;
  • electronic access to the Register will be available upon implementation of special software changes by no later than 01 January 2018 (until the required special software changes are implemented, extracts from the Register can be obtained on the official web site of the Ministry of Justice under separate agreement with the administrator of the Register);
  • an extract from the Register can be obtained either by one-time application or based on monthly subscription. Notably, there are no limits as to amount of extracts and/or information to be obtained based on the monthly subscription;

The fees for obtaining extracts from the Register are as follows:

  • UAH 40,00 (ca EUR 1,40) – for registration of encumbrances, changes and additional information in the Register;
  • UAH 50,00 (ca EUR 1,60) – for obtaining the Register extract in paper form;
  • UAH 30,00 (ca EUR 1,10) – for obtaining the Register extract in electronic form;
  • UAH 1600,00 (ca EUR 55,00) – for monthly subscription to the Register.

This is an important improvement,  since the existing procedure of registration of encumbrances / obtaining extracts from the Register is rather time and effort consuming, as one should every time apply to the notary or the Information Agency of the Ministry of Justice. The establishment of full access to information on encumbrances over the movable property marks another step towards European standards in the sphere of transparent registration and monitoring of encumbrances in Ukraine.

This Resolution shall come into force within three months following its adoption.

Legislation: Resolution of the Cabinet of Ministers No. 386 dated 24 May 2017 “On Introducing Changes to Some Resolutions of the Cabinet of Ministers of Ukraine on the Issues of Granting Information from the State Register of Encumbrances over the Movable Property”