International Business Companies
International business companies also known as offshore companies can be incorporated in many countries known as offshore jurisdictions around the world. Offshore companies are also called IBCs for short. International Business Companies can be incorporated in the following offshore jurisdictions: Dominica, Panama, Belize, Anguilla, Seychelles, British Virgin Islands, and Hong Kong, Singapore, Cyprus, Mauritius and many other countries in the world.
Once the legislation is in place in a jurisdiction for registering an international business company then this company can be successfully incorporated. International business company registration is easily carried out and in some offshore jurisdiction this process takes no more than one working day for completion. In most offshore jurisdictions just one (1) shareholders and one company director is needed for the incorporation of an international business company and the same individual can play the role of shareholder and director.
For international business company formation many offshore jurisdictions makes it mandatory for the person wishing to register the company to employ a registered agent, who is a local person or company who have been licensed and authorized by the government to provide offshore services. The registered agent will prepare all the registration documents on behalf of the international business company and file those with the Registrar of Companies. The documents needed for International Business Company registration are: Memorandum of Association and Articles of Association.
International business companies are regarded as tax free companies. Once Offshore Corporation incorporated in an offshore jurisdiction and carrying out no kind of business operations there then offshore companies will pay no taxes in the offshore jurisdiction of incorporation. Offshore companies pay no income tax, corporate taxes, withholding tax, and other form of taxation. International business companies are solely responsible for paying an annual renewal fee. Many offshore jurisdictions do not allow offshore companies to do business with residents of the jurisdiction or do business within the jurisdiction but there are offshore jurisdictions such as Panama which allows international business companies to do business in and out of the jurisdiction. No taxes are charged on incomes gained outside of these jurisdictions but international business companies are entitled to pay taxes on incomes earned from doing business within the jurisdiction.
International business corporations are guaranteed tax exemptions from the day of incorporation in many offshore tax havens and this is just one of the benefits of International business company formation. Offshore companies provide asset protection since assets placed in these companies are protected by legislation in the offshore jurisdictions. International business companies can do business anywhere in the world and they can also be set up just for keeping assets. Offshore companies can be used for acquiring other assets whether it is real estate properties or other companies and these companies can set up offshore bank accounts at offshore banks which are scattered around the world.
One of the many advantages which an offshore corporation has over an onshore company is that the offshore company is not obligated to file annual financial reports and audits to the tax authority in most offshore jurisdictions. This information remains private to the company and can be held anywhere in the world. International Business companies are also not obligated to keep annual general meetings of shareholders, if any meeting is held this can be kept at any time and location convenient to the parties involved. International business companies provide secrecy for the owners and other persons who are involved in these companies. The names of the shareholders and directors of offshore companies and other company information are not made part of public records in most offshore jurisdictions.
International business companies are ideal business companies to be used as trading companies around the world. International business companies have gained a very good reputation over the years as good business companies.