The country that has never had restricted shares that could only be owned by citizens is the United States Of America.
There is no citizenship requirement for owning stocks of American companies.
U.S. investment securities are governed by U.S. law. But there are no specific provisions that restricted individuals who are non-citizens of the U.S. from investing or withdrawing in the U.S. stock market.
Countries like China, North Korea and many other country have had a long history of restricted trade in shares or stock market. They allow only their citizens to participate.
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