On 24-25 September 2012 the first International Conference Novelties and Know-How of Real Estate Transactions in Ukraine and Cyprus took place in Limassol, Cyprus. The conference was organized and sponsored by Konnov & Sozanovsky jointly with the Cyprus Company Viriko Developers LTD.
The conference brought together professionals from Ukraine and Cyprus, including real estate practitioners as well as long-established Konnov & Sozanovsky`s clients. The conference itself began with the welcoming address of Sergei Konnov, Attorney at law, Senior Partner of Konnov & Sozanovsky who emphasized the high profile of such a conference. A substantial part of the conference was devoted to practical issues of real estate transaction in Ukraine and Cyprus. The main objective of the conference was the presentation on recent changes and developments of real estate regulation in both countries.
The Ukrainian delegation was represented by speakers Elena Kochergina, Partner, and Julia Eismont, Associate of Konnov & Sozanovsky and Natalia Gorbal, Private Notary of Kiev notary district. Within the conference practitioners of Konnov & Sozanovsky presented a comparative analysis of existing and new (since January 1, 2013) registration order of real property rights as well as case-study in protection of subtenant’s interests under a sublease agreement. Moreover, Natalia Gorbal gave a substantial analysis of the new order of land auctions in Ukraine.
The participants from Ukraine paid a great attention to the presentations of Cyprus participant who spotlighted the legal issues and practical tips for acquisition of property in Cyprus by non-residents individuals and legal entities. In particular, Alexia Christodoulou, Attorney at law of PYRGOU law firm, presented a detail description of advantages and legal issues relating to acquisition of real estate in Cyprus in the view of obtaining Immigration permit to third country’s nationals. Fokas Sofroniou, Attorney at law, provided a substantial analysis of legal procedures and requirements governing the acquisition of immovable property by non-residents in Cyprus and described application process to the district officers depending on the location of the property. Fokas Sofroniou and Vakhtang Kotua, CEO of the Cyprus Company Viriko Developers LTD, also were very active while discussions of restrictions on acquisition of property in Cyprus by non-residents individuals.
The organizers were pleased to receive the participant’s appreciation and gratitude regarding a great performance of the conference noting it’s highly informative and practical value and expressed expectations for the next year conference.