The International Register of Losses is expanding its functionality for businesses. Find out when and how you can apply for damages through the Diia platform and receive compensation for your losses

Comprehensive legal support for the relocation of your business abroad

ORDER

In early fall, businessmen from Ukraine will be able to apply for compensation for war damage through the International Register of Damage Caused by russia's Aggression Against Ukraine. According to Markiyan Kliuchkovskyi, the registry's executive director, in an interview with Delo.ua, the new functionality of the registry will be expanded for business based on 12 main categories covering losses of infrastructure and property of legal entities. After that, in late fall, 19 more categories will be added, including those related to business.

Expanded functionality and new categories of applications

In early fall, the registry will open for business, including 12 categories of applications related to infrastructure and property of legal entities. These categories are designed to help entrepreneurs compensate for losses associated with the destruction of assets, loss of control over them due to temporary occupation, as well as the costs of evacuation and relocation of business. According to Kliuchkovsky, applications in these categories will be available in late fall.

At the same time, Kliuchkovsky emphasized the importance of dividing the categories into those related to infrastructure and business-related. The first categories focus on the reconstruction of destroyed facilities, while the second set of applications concerns business losses, lost income, and the valuation of property that could generate income in the future. This separation will allow the compensation commission to process applications more efficiently and facilitate faster compensation.

Visit Ukraine on social media: Telegram | YouTube | Instagram | Facebook | Twitter | TikTok

Who will be able to apply?

Another innovation will be the possibility of engaging representatives to submit applications to the register. This will allow legal entities, as well as individuals, to entrust a lawyer or other authorized representative with the filing of an application. This tool will be implemented in the coming months, which will facilitate the process for those who do not have sufficient technical expertise to submit an application on their own.

The procedure for submitting applications to the Business Loss Register

Legal entities will be able to apply for damages through the Diia platform. This process will be innovative, because, unlike individuals, businesses do not have constant interaction with Diia. The application procedure will require a detailed description of the asset, damage, and economic losses suffered by the business.

Application requirements

Applications to the registry must meet three main criteria:

1. The damage must have been caused after February 24, 2022.

2. The losses must relate to the territory of Ukraine within its internationally recognized borders.

3. The losses must be caused by the unlawful actions of the russian federation in Ukraine or against Ukraine.

Kliuchkovsky noted that the assessment of losses will be carried out at the pre-war value of the property, taking into account the market and book value. Work has already begun on the creation of an international compensation commission, which will include representatives of dozens of countries. The Commission will be responsible for making decisions on compensation, which will be reviewed by experts, lawyers, economists and financiers.

We remind you! You can now submit a claim for compensation to the International Register of Losses through the Diia app. For detailed instructions on how to do this and what you need to do, see here.

Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.

We recommend purchasing it for a safe and comfortable trip to Ukraine: 

Visit Ukraine Insurance – safe travel in Ukraine (insurance covering military risks);

Visit Ukraine Legal advice – comprehensive legal support on entry to Ukraine;
Visit Ukraine Tickets – bus and train tickets to/from Ukraine;

Visit Ukraine Tours – the largest online database of tours to Ukraine for every taste;

Visit Ukraine Hotels – hotels for a comfortable stay in Ukraine;

Visit Ukraine Merch – patriotic clothing and accessories with worldwide delivery.

© 2018-2024, Visit Ukraine. Use, copying or reprinting of materials on this site is permitted only with a link (hyperlink for online publications) to Visit Ukraine.

All rights reserved.