​Important restrictions for developers on the advertising of Construction projects

11.12.2019

The leader of real estate and construction practice of Salkom Law Firm Tymofii Sykorskiy shared his views on the latest amendments to the Law of Ukraine "On Advertising" regarding the advertising of Construction objects.

Since amendments to the Law of Ukraine "On Advertising" that introduce restrictions on advertising of construction objects come into force on 04/18/2020 it is important that these legislative changes are properly understood by the developers.

The main thing in these changes is that the advertisement of the construction object will be considered legal only if the developer has the registered rights to the land plot and the permit for construction works, and the contractor has a license for construction work. In addition, if the involvement of funds for construction is carried out through the Construction Financing Fund, the Real Estate Operations Fund or through special purpose bonds (ie through financial and credit mechanisms) then the person involving the funds must additionally have a license for financial services.

For more information read Timothy Sikorsky's article here.