A significant amount of attention has recently been given to the new bearer share regime in the British Virgin Islands, which comes into effect as at the end of this year. In summary, the most significant aspect of the new regime is that bearer shares which are not deposited with an authorised custodian as at December 31, 2009 will be "disabled" and, until they are so deposited or are otherwise exchanged for registered shares, will lose all of their rights, including the right to vote, the right to receive dividends and the right to share in the assets of a company on a liquidation. In many respects, this change is less significant than it may seem. For example, bearer shares issued in companies incorporated since January 1, 2005 (and companies incorporated prior to this date which have already taken certain corporate action) are already required to be deposited with a custodian. But the introduction of the new regime has created numerous practical issues (which have received little publicity
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