I introduce and defend the semantic notion of counterfactual identity, distinguishing it from the metaphysical notion of transworld identity. After showing that Lewis's counterpart theory misconstrues counterfactual identity facts, I outline and motivate a ‘Leibnizian counterpart theory’ where the notion of counterfactual identity is adequately modelled. Finally, I show that counterfactual identity can be characterized without relying on some implausible features of Lewis's theory of conditionals