Questions & Answers

Financial company “FINBUD” (EDRPOU code — 35000135), registered on March 15, 2007 in the city of Kyiv as a Limited Liability Company.

The company operates under License of the National Commission for State Regulation of Financial Services Markets of Ukraine series AE No. 199724 to carry out activities to attract funds from property management founders to finance construction.

A Forward Contract (FC) is a special civil contract under which the seller (in this case, the construction customer) undertakes to transfer the basic asset to the buyer within a specified period, and the buyer undertakes to accept the basic asset and pay the price, specified by such a Contract, for it.  

In this case, the basic asset is the property rights to future real estate.

Peculiarities and procedure for using forward contracts are stipulated by the Law of Ukraine “On Securities and Stock Market”, the Tax Code of Ukraine and the Regulations on Requirements for Standard (model) form of Derivatives, approved by the Resolution of the Cabinet of Ministers of Ukraine dated April 19, 1999, No. 632.

It is the owner of the original Forward Contract who receives all the basic asset buyer’s rights and obligations - property rights to the residential or non-residential premises the buyer chose. The advantage of a Forward Contract is that no person other than the contract holder can acquire the contract basic asset. This eliminates the possibility of double sale of real estate.

An Asset Management Company (AMC) is a legal entity that professionally manage the Collective Investment Schemes (CIS) assets under License issued by the National Commission on Securities and Stock Market and cannot combine these activities with other types of professional activities in the securities market.

The AMC manages the CIS assets for a fee, which amount is set in accordance with the regulations of the fund. AMC can simultaneously manage the assets of several CISs. The AMC's activities are strictly regulated and limited by law and controlled by the National Commission on Securities and Stock Market.

The Asset Management Company core functions:

• Corporate Investment Funds creation;
• issue, placement and repurchase of CIS securities;
• attraction of agents who place / repurchase CIS securities among investors;
• management of the CIS assets: after the receipt of funds to the CIS account, the AMC directs them to acquire assets to form the structure of the CIS portfolio, which is described in the Investment Declaration;
• analysis of the securities, real estate and other markets, which interest is part of CIS assets;
• search for new objects for investment;
• regular revaluation of assets, execution of contracts for the purchase and sale of assets, preparation of reports to state regulatory authorities;
• providing for the current CIS activities.

According to the Civil Code of Ukraine, the cost of housing can be set in the equivalent foreign currency (usually the US dollar) amount. When paying in instalments pegged to the dollar, the cost per square meter in c.u. remains unchanged.

RIEL Real Estate Corporation’s apartments and non-residential premises are sold either with a notarized Presale Contract (the customers enter into the Principal Sales/Purchase Agreement only after the commissioning of the building); or with the Participation in the Construction Financing Fund Agreement; or with a notarized Forward Contract Purchase/Sale Agreement.

When constructing a new building, we are guided by all the requirements of construction and regulatory norms that have been introduced in Ukraine and bear liability in line with the legislation in force.

Yes, it is possible to pay in instalments before the building is commissioned, as long as the payments are equal. The minimum down payment is from 10% of the cost of the apartment.

Payments are made in accordance with the exchange rate indicated on our website (at the bottom). 

The price depends on many factors, including the class of housing, the location of the house and apartment (in particular, the floor, planning, view from the window).