Monday, 24 December 2012

What are the uses of an offshore company(IBC)

offshore company uses:-

Understanding what is an offshore license from my previous article, offshore company uses:-
As most other companies, an offshore company may enter into contracts, open bank accounts, purchase and sell various products and services, own property. A typical offshore entity, also known as an international business company (or an offshore IBC) does not pay taxes in its home jurisdiction. At the same time, it must also operate outside of the country of incorporation. A typical IBC is effectively a corporation with a limited liability. This liability is limited only by company’s shares. Shares are owned by one or more shareholders while the company is managed by director(s).

Offshore incorporation can be carried out in a number of jurisdictions, including UAE,BVI, Belize, Seychelles, Anguilla, Panama, Nevis etc. The main decision criteria are price, reputation of the jurisdiction and time to incorporate. For instance, an offshore BVI company is the most popular among offshore entities, highly regarded by incorporators and business owners alike. An alternative would be a Seychelles company, which is the most reasonably priced among popular offshore jurisdictions. Belize IBC is a practical balance between price, reputation and proximity to fairly developed banking system of Belize.

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1 comment:

  1. There are many benefits of offshore company formation in Dubai for any businesses. Thanks for sharing this useful information. Keep sharing..
    business set up in dubai


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