An International Business Company (IBC) is generally a legal entity set up in certain countries for assets protection, international trades and investments, and many other reasons. An IBC, formed outside of one’s country of residence is for a person who wishes to hold assets or a bank account in the name of IBC. Basically, when you set up an IBC or an offshore company you set up an entity which has been granted a charter by the foreign government to conduct commercial enterprise.
There are a number of countries that have strict IBC laws and provide 100 percent confidentiality and privacy. In few countries or jurisdictions, the asset protection provision is extremely strong and many of them are island nations that have grown to be financially strong by offering a safe place to store one’s money. Likewise, if you are willing to incorporate an IBC in an independent offshore jurisdiction then Panama and Belize jurisdictions can be the best choices for you. Becoming a popular offshore jurisdiction, Belize IBC provides the highest level of privacy, quick incorporation, and inexpensive annual fees. Similarly, the Panama corporation commonly known as Panama Offshore IBC is on top of the list of favorable offshore jurisdictions.
Why set up a Panama IBC: Panama jurisdiction offers some major advantages such as – no requirement of minimum paid up capital, any individual and legal entity can become a shareholder, no foreign exchange control, complete privacy and confidentiality, and many other. You also have a freedom to name the IBC in any language but must include a legal ending such as Corporation, Inc, etc.
Why set up a Belize IBC: Among a number of new jurisdictions the Belize jurisdiction has appeared to be one of the best jurisdictions in the last decades. Belize is a good alternative to Panama jurisdiction as it provides all the benefits of Panama IBC at much lower costs. This has attracted more and more people who look for cheaper options while incorporating an offshore company.
Along with these, there are also a proper set of rules and guidelines related to other aspects such as office address and agents, directors and officers, shareholders, etc. which you can easily access and understand, which helps you in the proper functioning of your IBC.
Now, as you see there are a number of benefits to owning an IBC, you can easily set up it to protect your assets and identity while conducting your business internationally by choosing any jurisdiction according to your business needs or specifications. Every jurisdiction has its own laws and advantages and it is up to you- which jurisdiction you choose.