Bearing down on bearer shares

Paraguay recently became one of the last countries in the Americas to pass a law eliminating bearer shares. Néstor Loizaga, managing partner of Ferrere (Paraguay), explains what the legislation means for the country

Bearing down on bearer shares Néstor Loizaga

Bearer shares represent the equity held by a person in a company that is kept physically as a paper certificate, but does not identify its legal owner or require any formal procedure for its transfer. The anonymity the instrument gives its owners has made it an attractive tool for money laundering and tax evasion as well as terrorism and arms smuggling worldwide.

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