FAQ

 

What is an IBC?

An IBC is the abbreviation for International Business Corporation.  An IBC is essentially a corporation in an offshore jurisdiction, often a tax haven, which offers complete privacy and maximum asset protection.

Why do I need an IBC?

This is a very basic question that we often receive.  There are a number of reasons why someone would need an IBC, but some of the basic reasons are as follows:

  • Your banking affairs are no longer confidential and secure.
  • Governments hold the right to demand information from banks with regard to all your personal information. Your best solution is an IBC.
  • You will have the ability to conduct your business in complete confidence.

What can I do with an IBC?

With an IBC you are able to:

  • Own and manage an offshore business portfolio.
  • Conduct offshore banking with secrecy.
  • Own offshore properties.
  • Trade stocks and other assets.
  • Lease equipment and property.
  • Hold intellectual property.
  • Secretly possess assets
  • Assists with retirement planning.

What is a Nominee Director?

A Nominee Director is the appointed person whom will act as director on your behalf. The Nominee Director is simply the face of the company in the respective jurisdiction.  The purpose of the nominee director is to add confidentiality and security as your name will not appear as director of the company thus protecting you from liability of sorts.

Do I have to be rich to possess an offshore account?

Not at all. The purpose of offshore accounts is to provide asset protection.  It can be for anyone with a net worth and is in fact the safest way to preserve your wealth whether you consider yourself rich or not. Until now, the only reason you have not been involved in the process is because you lacked the information of the industry, not capital.

Will I have to travel to set up an offshore account?

Fortunately, we have established contacts worldwide saving our clients the hassle of having to fly to offshore jurisdictions to open up accounts.  There are some jurisdictions that do require you to open the account in person, but most of our jurisdictions don’t require this.

Will I be able to access my account online?

Yes. Most of our offshore jurisdictions do offer internet access to our clients.  You will be able to access your account much how you would access your domestic accounts.  Once you have an account you will have access to either telephone, online, or banking instructions via fax at your disposal. We will attempt to tailor a solution the will fit your individual needs.

Will I have complete control over my offshore account?

Absolutely.  Our responsibility is to provide you with maximum asset protection and complete liberty.  You will have complete control over your account at all times.  Once the account is established you only signatories that you have selected will have access to the account.

Isn’t offshore banking complicated?

That’s why we’re here.  We make a process that may seem a little ambiguous that much easier for our clients.  If done correctly, creating an offshore account can be as simple as opening up a domestic account from home.

How do you select your offshore jurisdictions?

There are a few criteria that we take into account:

  • Must be an English speaking jurisdiction.
  • Must be politically stable.
  • There should be no currency control with regard to funds being wired in and out of the country.
  • Must have legislation guaranteeing complete confidentiality and laws enforcing penalties for any disclosure of information to third parties.

How can I access my offshore account?

You will be able to do any of the following with your offshore account:

  • You may wire funds directly from your offshore account to your domestic account.
  • Once the offshore account has been opened you may receive a debit card that will allow you to make transactions internationally.
  • The IBC is treated as a separate legal entity which allows you to borrow money from the corporation.  Moreover, it will also allow you to receive loans from the IBC.
  • Any and all assets may be purchased through the IBC as opposed to you as an individual.  This will maximize your privacy and confidentiality.

Disclaimer: We are not tax advisers and are not qualified or prepared to give legal or taxation advice.  We recommend that clients obtain advice from a qualified professional prior to the purchase of an offshore company or bank account.