For transfers due to inheritance (succession) as a result of the death of an investor, the following procedure in brief is followed:
1. Notification of investor death
Any of the heirs or the custodian:
- shall immediately notify the death of the investor, sending the CSD the relevant application (ΑΙΤ033) along with the death certificate;
- immediately transfer the portfolio to the deceased investor's Special Account.
2. Provision of information on the portfolio of deceased
This service is provided following the submission of an Application for the Provision of Information in the case of Inheritance (ΑΙΤ025) to the CSD and of the necessary supporting documents, according to the relevant instructions (ΚΑΑ502).
The application should be submitted either in person by the heir of the deceased investor, or by mail with the provision that the application carries a certification of the authenticity of his/her signature
- Until 30/04/2016: The service is provided free of charge.
- From 03/05/2016: The service is provided for a fee (Decision 1, BoD ATHEXCSD / Article 36): € 0.05 per printed page (plus VAT) should be paid by the applicant, with a minimum charge of 5 € (plus VAT). If the above information services are provided on optical media (cd), the minimum charge applies in all cases (plus VAT).
3. Certificate for the closing price of the deceased investor's portfolio on the date prior to the date of death
The certificate is provided upon submission to the CSD of an Application for a Certificate of Closing Price (ΑΙΤ049) and is used by the heir to file inheritance tax return to the relevant tax office.
- 1 -10 issuers: EUR 3
- 11 -20 issuers: EUR 5
- 21 and above issuers: EUR 10
- For a large number of issuers is provided: the Daily Price Bulletin at EUR 3
4. Legalization of Heirs
The legalization of heirs may alternatively be performed by:
- The CSD upon submission of an Application for the Transfer of Securities due to Succession (ΑΙΤ026) according to the procedure described in the relevant instructions (ΚΑΑ503),
- the Operators of the deceased,
- the Issuing Companies.
- If the legalization is performed by the CSD, the heirs can receive the relevant certificate upon submission of the relevant application (ΑΙΤ034).
- Fee: see the respective instructions (ΚΑΑ504).
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