The privatization of Kosovo's socially owned property and enterprises differs significantly from privatization programs undertaken in other countries, especially in Eastern and South-Eastern Europe when they transitioned from communism to democracy and free market systems. What is unique about Kosovo's privatization program is that it was designed and implemented under the authority of the United Nations at a time when Kosovo was directly administered by the United Nations. It is perhaps so far the only privatization program that was initiated and implemented by the United Nations under Chapter VII of the United Nations Charter. Various other international organizations, such as the European Union, played a significant role in this process as part of their responsibilities in the administration of Kosovo. An obvious question is what the United Nations would have to do with privatization in the context of territorial administration under Chapter VII of the United Nations Charter and if the United Nation's authority to administer Kosovo would include the authority to privatize property, the legal nature of which was unclear even when it was developed in former Yugoslavia. The discussion of these and other legal questions and controversies which are related to the privatization process in Kosovo are the main subject of this article, with a focus on the role of the United Nations and the European Union in this process.