Privatisation via Prozorro: a key feature of participating in the auction

Prozorro is a unique online platform that brings together all the information on assets put up for sale at auction. It is a project where you can purchase property, cars, state-owned enterprises, paintings and many other assets at favourable prices. One of the most attractive aspects of the project is Prozorro’s small-scale privatisation.

Small-scale privatisation involves the sale of state-owned and municipal enterprises, real estate, vehicles and even securities across the country at market prices. It should be noted that the value of assets being sold through small-scale privatisation must not exceed 250 million hryvnias. Today, a huge number of participants use this platform for fair and transparent bidding, and small-scale privatisation of assets via Prozorro auctions has brought millions of hryvnias into the state treasury.

Need we remind you that thousands of entrepreneurs and businesspeople have been able to realise their dreams by purchasing abandoned, dilapidated state property at Prozorro auctions, sometimes even at the starting price.

Terms and conditions for participating in Prozorro

To become a participant in an open small-scale privatisation auction, you must register on the online platform, the official representative of the Prozorro platform, which conducts the auctions. Participation in auctions open to the public is available to all interested legal entities and individuals. The system operates according to the principles of transparency.

Payment of the guarantee deposit on Prozorro

The second step to participating in the auction is the payment of the guarantee deposit. This amounts to ten per cent of the initial value of the lot being sold at the auction.

The property privatisation authority, in turn, also registers on the electronic platform accredited by the state-owned enterprise ‘Prozorro’, drawing up and signing a contract in accordance with the Law of Ukraine ‘On the Privatisation of State and Municipal Property’. Thus, there is absolutely no element of corruption in the Prozorro system.

The auction takes place if more than one person has registered on the online platform and submitted an application to participate for a single lot. If there is no competition, the participant has every right and opportunity to purchase the lot at the minimum market price.

If you require legal advice on any matters relating to the privatisation of state and municipal enterprises, or on the correct procedure for formalising and conducting transactions on the Prozorro platform, we are always happy to assist you.

Call +38 096 554-54-25 for a free consultation!