International Business Company
An international business company is an offshore company also known as a tax exempt company. International business companies can be incorporated in a number of offshore jurisdictions around the world. Some of the best offshore jurisdictions for the formation of international business companies are Dominica, Bahamas, Belize, Anguilla, Nevis, St Kitts, British Virgin Islands, Seychelles, Cyprus, Cayman Islands and other offshore jurisdictions.
An International business company is able to conduct its business operations in any country in the world. Offshore company legislation prohibits offshore companies from doing business in the offshore jurisdiction of registration but there are few exceptions such as Panama which allows offshore companies to carry out business within the country. International business companies can be created for many purposes which includes business purposes for trade and other business operations and for holding assets. International business corporations can own assets such as real estate properties, art, capital, jewelry, bonds and stock. Once assets have been placed in the care of an international business company they become the property of that company.
International business companies have the advantage of benefiting from tax exemptions in the offshore jurisdictions. Form the day of incorporation all offshore corporations in tax haven receive tax exemptions. For this reason many people choose to form international business companies to reduce on their tax liabilities. International business companies legislation in the offshore tax haven provide for tax exemptions on all incomes which is gained outside of the offshore jurisdiction of incorporation. Offshore companies pay no income tax, corporate tax, withholding tax, capital gains tax and other forms of local taxation. A registration fee and an annual license renewal fees must be paid by the offshore business company.
Offshore business formation in some offshore tax haven can be completed in just one working day whilst in others the process can take u to two (2) working weeks to complete. Clients wishing to incorporate an international business company have no real need to travel to the offshore jurisdiction of choice as there are registered agents of offshore service providers whose role is to incorporate offshore companies. In most offshore tax havens the offshore companies must be registered by a registered agent. The registered completes International business company incorporation and communicated the necessary documents with the company shareholders.
Offshore IBCs have very flexibly structures which makes company maintenance very easy. International business corporations can be formed using one shareholder and one director who can be the same individual. Some offshore jurisdictions allow for the use of corporate shareholder and directors. Company secretaries can also be appointed for offshore companies.
International business corporations benefit from privacy clauses within international business companies act. In the first instant the name of the offshore company shareholders and directors are not filed as public records in offshore jurisdictions such as Dominica, Anguilla, British Virgin islands and many others. In jurisdictions which make these information public records the persons incorporating the international business companies have the option of using nominee shareholders and nominee directors. All information in offshore companies remain private and cannot be made available to a third party or any other person by the registered agent or persons working at the Registrar of Companies without first obtaining the permission of the beneficial owner of the International Business Company. in order for offshore company information to be given out a Court Order must be handed down and information is only given out in cases where the offshore IBC is being investigated for criminal activies such as money laundering, terrorist activities etc.
International Business corporations make excellent trading companies which are easily incorporated in many locations around the world.