Foreign property: inscribed and registered securities: usual location
You must remember that for Inheritance Tax all assets are taxed where they are sited, this includes shares unless they are excluded property (IHTM04151).
For the purposes of Inheritance Tax an inscribed and registered security (a shareholding in a Company, for example) is located at the place where the title of ownership must be registered - see Att Gen v Higgins  2H and N 339.
It makes no difference that the business of the company is totally administered outside the country in which the register is kept: see Baelz v Public Trustee  Ch 863.
The situs of shares can be affected by various factors such as
- whether a branch register is kept (IHTM27122),
- the effectiveness of the register itself (IHTM27123)
- overseas branch registers of UK companies (IHTM27124)
- duplicate or multiple registers of non UK companies (IHTM27125)
- Canadian Companies: transfer agencies (IHTM27127)
- Canadian Companies: branch registers of British Colombian and Newfoundland Companies (IHTM27128)