Why is this normal:
A traditional offshore jurisdiction with a long history of nominee services. Bearer shares (now restricted) were its hallmark.

Peculiarities:
– Nominee directors and bearer shares (in immobilized form)
– Used for ship ownership, real estate holdings
– Good asset protection and confidentiality
– Territorial taxation system

Regulation:
Following the Panama Papers scandal, transparency requirements have been strengthened and a register of beneficial owners has been introduced, but the jurisdiction remains popular.