On 26 November Law No. 1701-VII "On Amendments to Certain Legislative Acts of Ukraine Regarding the Identification of Ultimate Beneficial Owners of Legal Entities and Public Figures" came into force. One of its provisions provides for free access to the State Register of Real Property Rights to Immovable Property.
Under the law, information may be provided to individuals and legal entities only by real estate object, in electronic or paper form. In electronic form, the information can be provided via the website of Ukrderzhreiestr (the State Registration Service of Ukraine). In turn, to obtain information on paper, one must submit a relevant application in person or by post to the rights registration authorities and notaries. The procedure for providing information will be determined by the Cabinet of Ministers. At the same time, upon the application of the owner or another right holder, the state registration authority provides them with information in the form of an extract on the persons who have obtained information about the registered rights belonging to them and their encumbrances.
Supporters of an open Register are known to speak of fighting corruption and the benefits for the real estate market. At the same time, opponents of disclosing the information fear possible abuse of access to it.