VERBA LEGAL obtained a Euroclear license to unlock assets for a Russian individual investor without a European passport or residency permit. This was one of the initial instances in which the Belgian regulator issued such a permit.

This marks the sixth time our team has successfully obtained a license to unlock the assets of a private investor. Lawyers recently succeeded in executing the first of the obtained licenses, resulting in the applicant's acquisition of securities in their European account.

The possibility for an individual without a European residence permit to secure a license is undoubtedly a positive indicator. All of our trustees previously held European residence permits, and there was concern that the applicant might receive a less favorable treatment. However, as it turned out, a properly prepared application dossier is paramount.

It is also imperative not to halt at the application submission, but to continuously monitor market news about incoming rejections to be able to promptly revise the submission and provide additional clarifications to the Belgian regulator,” believes Tatiana Neveeva, Senior Partner at VERBA Legal.

The project team included Senior Partners Tatiana Neveeva and Alexander Panov, Counsel Marat Samarsky, Paralegal Yulia Koroleva, and Junior Lawyer Evgeny Gasparyan.