WHAT IS AN INTERNATIONAL BUSINESS COMPANY (IBC)?
An IBC is a company established in a offshore tax haven country or jurisdiction which is usually restricted from carrying on business with persons resident in that tax haven jurisdiction, and cannot invest in real property situated in the jurisdiction, other than holding a lease of property for use as an office. An IBC cannot carry on any banking, trust, insurance or reinsurance business, or provide a registered office for other companies (to engage in the business of offshore banks, trusts and insurance, there are other legal entities that are used). An IBC can invest in stocks and bonds, trade oil, gas, commodities, and any other general business not restricted by the jurisdiction. An IBC is not taxed in the jurisdiction. Usually, there is a very small flat yearly fee that is paid to the jurisdiction to be allowed to operate the IBC. An IBC can open bank accounts, retain local professional services, prepare and keep its books and records, hold directors’ and shareholders’ meetings in
