
The Swiss government will begin to phase out bearer shares on 1 November in a bid to curb tax avoidance by bearer shareholders. Under the new rules companies no longer issue bearer shares—equity in a company that is owned by whoever holds a physical stock certificate—unless they are a listed company or they structure the share through an intermediary. Existing bearer shares will be automatically converted into registered shares after an 18-month transitional period. The Act sets out a...
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