The State Property Fund has developed and transferred to the Cabinet of Ministers a new Lease Law

The State Property Fund of Ukraine has developed and transferred to the relevant ministries a draft Law "On the Lease of State and Communal Property", under which the lease will be carried out exclusively through electronic auctions, the need to obtain additional permits in various management bodies is canceled, and the lease process will be reduced to 45 days from the current 145.

The Acting Chairman of the State Property Fund of Ukraine Vitalii Trubarov announced this.

According to him, the purpose of the new Law is to make the procedure of leasing state and communal property as transparent, efficient and easy for the investor.

"The Fund proposes to lease property exclusively on electronic auctions. Or through system ProZorrо, or through any other, but not in the format of the Competition Commissions. The process should be public, competitive, and the price is maximal ", - said Vitalii Trubarov.

In particular, the Acting Chairman of the State Property Fund notes that under the new Law, the lessee will independently determine the subject of valuation activities, information about the object of lease will be posted on the official site and will not require any requests, and every three years will be actualization of value.

The Chief of the State Property Fund indicates that such a procedure for the transfer of state and communal property to the lease will be for both single property complexes and for certain objects of immovable and movable property.

"The difference will be only that the list of the SPC will be approved by the Government and will separately develop the investment obligations and terms of lease," notified Vitalii Trubarov.

Vitalii Trubarov also informed that currently there are more than 19 thousand valid lease agreements, the profit of which as of August amounted to almost 673 million UAH. "By the end of the year, this figure will be more than 1 billion UAH," summed up the Chief of the State Property Fund.