Offshore IBC stands for offshore international business company
. This means that the company is allowed to function in the country provided it does not carry out any of its business within the territorial boundaries of the country. Some of the places that allow the registration of such Offshore IBCs are Antigua, Anguilla, the British Virgin Islands, the Bahamas, Gibraltar, Nevis and Seychelles.
The main factor that attracts people to such Offshore IBCs is the fact that they are not subject to taxes in the host country. Most of these companies have their functions outside the jurisdiction of the country within which they are located. This means that the functions of the company will not have any effect on the economy of the country.
An Offshore IBC also grants its owners a significant degree of confidentiality and security. Such corporations are not compelled to divulge any information about their shareholders.
Another advantageous feature of these corporations is that they are allowed to issue shares in the bearer form. This means that there need not be any names that are used in the shares and other related documentation. This further adds to the confidentiality of the business.
Over the past few years the number of businesses opting for the Offshore IBC format for their companies has been witnessing a gradual rise. This means that the trend is slowly shifting from a company that is bound by the traditional kinds of regulations and restrictions to a more liberal format of business that involves less regulations and interference from the government.