Inheritance of shares on "C" accounts: the question remains open
Can a heir (an "unfriendly" person) inherit in a type "C" depo account converted shares of Russian companies held by a testator (an "unfriendly" shareholder) at a type "C" depo account This is an important question for many shareholders from the EU and other "unfriendly" countries.
The answer so far is negative: the type "C" depo account regime does not provide such transfers between type “C” depot accounts. According to our information, this problem is currently under study at the Bank of Russia, as the issue is obviously relevant for a significant number of "unfriendly" shareholders. We will keep an eye on developments.
The information provided in this message is for general guidance only and does not constitute legal or financial advice. MAGENTA Legal accepts no liability for any actions (or inactions) based on the information provided. Please consult with your legal and/or financial advisor.
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