Benefits of an International Business Corporation
The IBC is the most versatile offshore business entity providing great flexibility to its owners, even more than typically found in corporations from states like Nevada, Wyoming and Delaware.
This type of company can be characterized in general with only minor exceptions from one tax haven to another. In the case of the three principal tax havens where Barber Financial Advisors, establishes IBC’s and offshore business operations for clients, Belize, Nevis and Panama are the preferred tax havens specifically for this purpose, and in this order of preference. Refer to “The T-8 Tax Havens” on this web site for further benefits of these three tax havens. Although Panama does not offer an IBC, their offshore corporation offers similar outstanding advantages.
Benefits of an IBC:
- No exchange controls
- No corporate income or other taxes
- Bearer shares are optional; in Belize and Nevis they are subject to being held by an approved custodian; in Panama, there are no restrictions (share certificate(s) are simply delivered to the new owner)
- Only one director or shareholder required; may be the same person
- Swift change of officers, directors and shareholders without special consent
- A managing director may be appointed to handle day-to-day business
- In Belize and Nevis, shares with par value maybe denominated in any currency
- In Belize and Nevis, a director may be a corporation, minimizing personal liability (a Panama corporation would be ideal to serve this purpose)
- Shareholders and directors may give unanimous consent, without a meeting, through use of a proxy
- No local directors or shareholders required
- Telephonic board meetings acceptable
- Re-domicile with ease, in or out of the tax haven
- Conduct any kind of legal business (some activities, such as banking, will require a license)
- No par value shares are optional
- Limited personal liability
- Attractive to foreign investors
- Useful in offshore estate and family planning
- Easy transfer of ownership; no permission required
- Centralized management
- Greater benefits to corporate owners than their onshore counterparts receive
- Maximum privacy for business activities
- Utilize for personal benefits, privacy and tax reduction purposes
- Transfer corporate tax liability to a no-tax jurisdiction and avoid business taxes altogether
- Excellent asset protection benefits; bullet-proof yourself
- Shareholders are not public record
- Directors in Belize and Nevis are not public record (use nominees in Panama)
- Nominee directors and shareholders are available (at extra cost); provides another layer of privacy; continue to act on behalf of the corporation as an attorney-in-fact with an unlimited (do virtually anything legal on behalf of the corporation) or limited power-of-attorney granted to you by the board of directors
- Shares may be paid up in cash or through the transfer of other assets or for other consideration
- Minimum paid in and issued capital may be one share which is fully paid
- There is no requirement for any financial statement, accounts or records to be kept, but corporate records may be maintained anywhere in the world
- Government regulations and fees are minimal
- No limitations on nationality, citizenship or residency of directors and shareholders
- It must operate only outside the tax haven of incorporation, with non- residents or non-local corporations, with the exception of engaging local banking, financial and other professional services for the corporation, and other business support services, such as secretarial services, holding corporate meetings, and maintaining an office to create a local presence and communication base from which to do business outside of the tax haven.
- E-commerce offshore business supported
- Offshore business activities encouraged and their tax haven status guarded
- Go global! Perfect corporate vehicles for conducting business and making investments anywhere in the world
- More
Incorporation is easy and fast in Belize, Nevis and Panama when you engage the services and experience of Barber Financial Advisors Start today by calling us at 604-657-8689, or emailing us at info@barberfinancialadvisors.com.
Time friendly tax havens! Belize is +2 hour EST; Nevis is +4 EST; and Panama is +3 hours EST. Good for Americans and Canadians conducting offshore business.