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What is small privatization ProZorro?

Small-scale privatization is the selling of state and municipal real estate, the cost of which does not exceed $9 million. The sale of assets is carried out through the ProZorro system, or rather, through the trading internet resources accredited in the system, which allow everyone to take part in open auctions and buy the property of interest.

Previously, small privatization auctions were held offline, which led to many problems. For example, it was not profitable for the organizers to advertise the upcoming auctions, since the lucrative lots could be sold to their friends for a low price, because there was no competition at all. The launched bureaucratic system made it impossible for everyone to take part in the auction.

Now, small-scale privatization in Ukraine is one of the most successful areas of the ProZorro system.

What is selling at small privatization auctions?

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The main sellers of property in the small-scale privatization procedure are the State Property Fund of Ukraine and local authorities.

The list of property that can be bought at auctions for small privatization:

  • residential real estate (apartments, houses);
  • commercial real estate (shops, administrative and office buildings, hotels, camps);
  • non-residential real estate (garages, warehouses, workshops, cellars);
  • objects of social and cultural purpose (cinemas, libraries);
  • land;
  • cars (cars, trucks);
  • industrial equipment (tractors, combines, excavators, machine tools);
  • working and stopped factories;
  • shares of concern.

How to buy privatization objects?

In general, the procedure for corporate privatization auctions through ProZorro is practically no different from those that we have seen in the movies. It’s simple. The organizer puts up a lot through an accredited trading platform, announces the date of the auction, registers everyone and raffles it between buyers.

If the lot wasn’t sold or there was no buyer for it, the system announces a second auction, but with an initial cost 50% lower than the previous one. If the lot is not sold for the second time, the third auction begins. This method makes it possible to buy the property of interest practically for the lowest price.

Small privatization of state property consultation

If you have any questions about small-scale privatization and the operation of ProZorro trading platforms, please contact Invest.ua for a quality consultation. The company also provides consulting support throughout the entire cycle of the bidding procedure – from registration to the completion of privatization.

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