What is an International Business Corporation
Article by Global Reserve and Finance Limited
An international business corporation or company, (IBC) is an offshore company formed under the laws of some jurisdictions as a tax-free company that is forbidden from engaging in business within a jurisdiction in which it is not incorporated. An IBC, commonly known as an offshore corporation is a separate legal entity, similar to a domestic incorporated company and is created under the authority of a statute.
Characteristics of an IBC vary by jurisdiction, but will usually include:
Exemption from local corporate taxation and stamp duty, providing the company does not engage in local business
Preservation of the beneficial owner of the company's confidentiality.
Wide corporate powers to engage in different businesses and activities
Abrogation or restriction of requirements to demonstrate corporate benefit
The ability to issue shares in either registered or bearer form
An abrogation of any requirements to appoint local directors or officers
Provision for a local registered agent
IBCs are offshore companies that are most commonly used for offshore banking in the conduct of international trade and investment activities, by professionals, and for asset protection. Offshore companies may be involved in buying and selling goods and services. Holding bank accounts and operating businesses. IBCs are also commonly used for the ownership of real property and land; for ownership of intellectual property, licensing and franchising; and personal service by individuals working overseas and offshore e-business, among other things.
An IBC can hold assets in a secure financial center. At the same time, an IBC allows the owner to retain total control of their assets. An IBC's assets are extremely private.
The advantage of any corporation is the limited liability factor. The advantage of an IBC is its portability factor. The advantage of IBC's in recommended jurisdictions such as Panama is the anonymity factor. The point is, that an IBC account can be opened anywhere in the world, operating privately and tax-free.
For more information about setting up International Business Corporation please visit http://www.globalreserve.co.nz where you will find an interactive application form.
About Global Reserve and Finance
Global Reserve and Finance Ltd. is headquartered and incorporated under the laws of New Zealand. The company offers CD's, savings accounts, commercial lending, estate planning, and access to a hedge fund and trading platforms (PPP). To learn more about GRF visit their website http://www.globalreserve.co.nz
The business entity formation process is the first and often most important step in establishing a foundation for this investment. Why leave the formation of your business entity to a faceless company on the other side of the country?
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