What is the difference between an IBC, foundation or trust?
For banking purposes, there is very little difference. All entities come with everything you need to open bank accounts. However, there is some difference in use. Generally, IBC is used for profit ventures involving business activity such as securities trading, banking, international trade, ownership of assets etc. IBC is considered to be the most common and popular solution. Foundations are generally used for non-profit activities such as charities, receiving or giving donations, grants, etc., but can also be used for holding purposes such as holding ownership of corporations or any other type of asset. Most of our clients use Foundations to hold ownership of their corporations for additional confidentiality and asset protection. Trusts are generally used for holding purposes such as owning corporations, or holding assets such as real estate.
Companies/Corporations are used for profit-making ventures involving business activities such as banking, international trade, securities trading, ownership of assets, etc. Foundations are generally used for non-profit activities such as charities, receiving or giving donations, grants, etc., but can also be used for holding purposes such as holding ownership of Companies/Corporations or any other types of asset. Foundations may hold ownership of corporations for additional confidentiality and asset protection. Trusts are generally used for holding purposes such as owning Companies/Corporations, or holding assets such as real estate.
