A processor includes a set of registers, each individually addressable using a corresponding register identification, and plural virtual registers, each individually addressable using a corresponding virtual register identification. The processor transfers values between the set of registers and the plural virtual registers under control of a transfer operation. The processor can include a virtual register cache configured to store multiple sets of virtual register values, such that each of the multiple sets of virtual register values corresponds to a different context. Each of the plural virtual registers can include a valid bit that is reset on a context switch and set when a value is loaded from the virtual register cache. The processor can include a virtual register translation look-aside buffer for tracking the location of each set of virtual register values associated with each context.