Global Registered Shares (GRS): Unlocking Seamless International Investing in 2025

Global Registered Shares (GRS) are rapidly emerging as a game-changer for Australians keen to access international markets. In a world where cross-border investing is booming, GRS are transforming how investors and companies connect across continents—eliminating unnecessary barriers, simplifying ownership, and boosting transparency.

What Are Global Registered Shares (GRS)?

Traditionally, investors who wanted to buy shares in companies listed overseas had to navigate through complex structures—think American Depositary Receipts (ADRs), Chess Depositary Interests (CDIs), or multiple local listings. Global Registered Shares break this mould. A GRS is a single share that’s registered and traded simultaneously on multiple stock exchanges, typically across various countries, but recorded in a unified global share register.

For example, a multinational like Siemens AG can issue GRS, allowing an Australian investor to buy and own the same share as a counterpart in Germany or the US, with all transactions tracked centrally. This structure removes the fragmentation and inconsistencies that arise from having separate local share classes and registers.

Why GRS Matter for Australians in 2025

The Australian investor landscape is evolving fast. The ASX’s connectivity with global exchanges is at an all-time high, and more Australians are seeking exposure to international equities. Here’s why GRS are especially relevant in 2025:

• Simplicity & Transparency: GRS eliminates confusion around voting rights, dividends, and corporate actions—every investor, regardless of location, holds the same rights and obligations.

• Lower Costs: With a unified share structure, investors avoid the hidden fees and currency conversion costs often attached to ADRs or CDIs.

• Regulatory Alignment: Recent updates to Australia’s foreign investment framework and the ASX’s 2025 compliance protocols have made it easier for brokers to support GRS transactions, reducing administrative friction.

• Liquidity Boost: By pooling global trading volumes into a single share class, GRS can increase liquidity, tighten spreads, and help investors achieve fairer pricing.

For instance, in January 2025, the ASX piloted a new settlement service in partnership with European clearing houses, making GRS transactions smoother and faster for Australian investors.

Real-World Examples and Market Trends

While GRS are still relatively rare compared to ADRs or dual listings, their adoption is accelerating. Companies like Siemens AG and UBS Group have been pioneers, and more global firms are following suit in 2025, attracted by the streamlined administration and investor appeal. For Australians, this means greater access to blue-chip shares without the paperwork maze.

Key 2025 trends include:

• Broker Integration: Leading online trading platforms, such as CommSec and SelfWealth, have expanded GRS support, making it as easy to buy a GRS as it is to purchase ASX-listed shares.

• Tax Clarity: The ATO has issued new guidance on the taxation of GRS dividends and capital gains, aligning with existing rules for direct international share ownership, reducing ambiguity for investors at tax time.

• Corporate Governance: GRS holders participate directly in shareholder meetings, with voting mechanisms harmonised across jurisdictions—no more proxy headaches or split entitlements.

As an example, a Sydney-based investor in 2025 can now participate in a European tech company’s AGM via their GRS holdings, casting votes in real time and receiving dividends in AUD, all through a local broker.

Challenges and Considerations

While GRS bring clear benefits, there are still practical considerations for Australians:

• Limited Issuers: Not all global companies offer GRS, so choices remain narrower than for ADRs or traditional international investing.

• Exchange Rate Risks: Although GRS reduce some currency friction, underlying asset values are still exposed to FX movements, especially for companies reporting in USD or EUR.

• Brokerage Support: Not every Australian broker is GRS-ready. It’s important to check platform capabilities and fee schedules before trading.

That said, with regulatory and technological momentum building in 2025, the GRS market is expected to expand, giving Australians more options and control over their international portfolios.

Conclusion

Global Registered Shares are ushering in a new era for cross-border investing, offering simplicity, transparency, and cost savings for Australians. As financial markets globalise and regulatory frameworks catch up, GRS stand out as a smart, efficient way to access the world’s best companies. Keep an eye on this trend—your next international investment might just be a GRS.