WHAT IS AN OFFSHORE CORPORATION?
An offshore corporation is better known as an International Business Corporation, or IBC. It is a statutory limited liability company, created and domiciled in a jurisdiction where tax concessions are available to non-residents of that jurisdiction. The IBC can be formed with one shareholder, one director, bearer or registered shares, and shareholder’s meetings can be held anywhere in the world, even by phone or proxy. In the case of a bearer share company, there is no public registration of the shareholders. This is privacy at its best. The IBC can provide a corporate shield through which an individual, group, or existing corporation can run a business, make investments and hold assets in a protected environment whilst the beneficial owner maintains complete anonymity. An IBC, with a life of its own, has the ability to enter into contracts or function as an international trading company incurring little or no tax liability. Offshore companies are a conduit for international trading, i
An “OFFSHORE CORPORATION” is a separate legal entity recognized by law as a separate person with limited of liabilities, similar to a domestic incorporated company, created under the authority of a statute. The primary difference is the allowance in certain “Havens” of a tax-exempt status, in order to attract new business to their otherwise remote location.
