Inheritance of shares of the SkyWay group of companies

28 October 2015 1052

Comments from notary of Vitebsk notary district Natalia Gogol:

"The majority of shareholders of the SkyWay group of companies are people of quite a solid age. Therefore, information on the inheritance of shares is relevant. This issue regularly occurs on all conferences and meetings.

Inheritance of shares of the SkyWay group of companies

The shares of the SkyWay project are a hereditary property, like a house, an apartment, a car, stocks, for example, "Gazprom", cash deposits, etc.

In all countries, with few exceptions, a probate is a notary.

The relatives, interested in receiving the inheritance, should address the notary at the place of residence of the deceased within the period of six months from the date of death and file a statement of acceptance of inheritance. By submitting an application, the heir claims all the property that he knows and knows nothing about. That is, even if stocks of shares are not specifically listed in the statement, they will still be inherited. Even several years after the filing of the application, you can come to the notary office and ask them to issue a certificate of inheritance.

There are two kinds of inheritance: by law and by will.

If the testator made no will on inheritance, by law, heirs of the first stage are called for inheritance: spouse, children and parents of the deceased, who divide the inheritance between them in equal shares. If there is a will, only those who are specified in it will inherits, other heirs lose their inheritance.

This is the most basic rule of probate. Further details on the procedure of probate can be obtained on the website of the notary Natalia Gogol: http://istoriionasledstve.ru. (in Russian)

Now specifically about formalizing SkyWay shares.

We are all shareholders of Euroasian Rail Skyway Systems Holding Ltd, no matter through whichever company we acquired the shares.

Therefore, in the Declaration of acceptance of the inheritance the heir should specify that the inheritance of the property are the shares of the company Euroasian Rail Skyway Systems Holding Ltd.

The notary will require documentary evidence of this fact. Documentary evidence is an extract from the register of shareholders. Please note that the extract should be as of the date of the shareholder’s death.  Therefore, even if the shareholder previously has taken care of obtaining an extract from the register about his ownership of shares, this statement will still not work – you will need to get a new one.

You need to visit the legal Department of the SkyWay group of companies and figure out how to get an extract from the register of shareholders for registration of inheritance.

To provide evidence of the ownership of the property to the deceased is the prerogative of the heirs. The notary does not know what Euroasian Rail Skyway Systems Holding Ltd is, who maintains the register of shareholders of the company and how to get an extract from this register.

After a six-month period, the notary will issue a certificate of inheritance rights for shares of Euroasian Rail Skyway Systems Holding Ltd.

With this document, you should contact the SkyWay company where the heirs, specified in the certificate, will be entered in the register of shareholders instead of the deceased".

You can ask a question on the website of the notary Natalia Gogol: http://istoriionasledstve.ru (in Russian)

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Ulyana Orlova

Correspondent of information services for international group of companies SkyWay

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