Baker McKenzie and Integrites have contributed to the completion of the European Commission questionnaire regarding Ukraine's application for European Union membership. Baker McKenzie contributed to the completion of Parts I and II of the questionnaire. Integrites worked pro bono to contribute to the submission of the Ukrainian Government’s response.
According to the CEE Legal Matters CEE By The Numbers report, between 2019 and 2021, Ukraine saw a large decrease in the number of ranked law firms and lawyers at ranked firms. While in 2019 the number of Ukrainian law firms ranked by Chambers & Partners and Legal 500 was 95, in 2021 the same number decreased to 69. Similarly, the number of ranked-firm lawyers decreased from 1,579 in 2019 to 1,338 in 2021. The decreasing trend is particularly visible in comparison to other CEE countries.
Relatively high inflation and lowering deposit interest rates became characteristic for Ukraine in recent years, thus heating investors’ demand for yields. Savings have been growing continuously, boosting the segments with a higher risk appetite and propelling the development of new investment opportunities. At the same time, the domestic financial sector is undercapitalized and has few financial instruments to offer. The market, therefore, attracts the attention of various non-resident providers of financial services – from the most diversified investment banking groups to single product enthusiasts, who are asked by Ukrainian corporations and high-net-worth individuals to offer a service or specifically target potential customers.
The owner’s rights are guaranteed by the Constitution. However, a person can still be restricted or stripped of enjoying its title to the property if so provided by the statutory law passed by Verkhovna Rada. Mandatory transfer of property for the needs of defence or other public emergencies is called requisition and such transfer must be subject to prior and fair compensation, except “where extraordinary circumstances require otherwise”.