International Business Company
An International Business Company (IBC) or offshore company is a specific form of offshore company which is licensed in specific jurisdictions across the world to engage in international business activities or investments. The international business companies can be registered in the following offshore tax havens or jurisdictions: Hong Kong, British Virgin Islands, Dominica, Anguilla, Bahamas, Seychelles, Mauritius, Singapore, Belize, Panama and so forth.
There are many advantages depending on the jurisdiction to won an IBC. IBCs benefit from tax exemption where these companies establish, as long as its income is not derived from local sources. In addition, IBCs enjoy the asset protection policies which make part of offshore company legislation in many of the world's offshore tax havens.
International business companies enjoy freedom from corporate tax, stamp duty and income tax in almost all jurisdictions whilst the onshore companies have to pay the tax on annual profits. IBCs only take responsibilities to pay a registration fee and an annual licence renewal fee.
The international business company structures and administration arrangements are very flexible as the shareholder and director of the company can be the same person. In some cases, only one shareholder and one director in the same company is required to affect incorporation. Additionally, an international business company can be incorporated using nominee shareholders and directors.
The owner of international business companies can be well protected, including the privacy and secrecy in the offshore jurisdictions, including the names of the shareholders, directors and other people involved.The legislation in many offshore jurisdictions stipulates leaking information concerning international business companies to third parties is a criminal offense for those persons, except being given out in a court order in some instances.