Creating an IBC, or International Business Corporation, is as easy as making a trip to your local bank and setting up your own corporate business account. You do not need to go to the country in which you wish to form the account.
The advantage of an IBC is its portability factor. For instance, an IBC that is formed in Panama can open a bank account in Switzerland, the United States and just about any other country. The bank opening the IBC account will require you to produce the incorporation documents, a corporate resolution by the directors authorizing the opening of the account, and will need to know who the appointed person will be for the account signatory. When the signatory is decided upon for the account, the bank will then require the proper identification papers for the signatory. Its very similar to what transpires during the opening of a domestic bank account. The point being made is that an IBC account can be opened anywhere in the world to operate tax-free and privately.
When approaching a well-established IBC account formation agent to set up the particulars of the IBC account, you should ensure that all the necessary steps and inclusions are clearly stated. You can buy many offshore IBC companies from a wide array of providers that will set up your IBC account in the country of your choice. They should ensure that all laws local to the countries of choice are followed to the letter. Such things as setting the papers with the local Registrar's office is pertinent in order to have your corporation properly registered.
There are many different IBC tax-free havens available to anyone wishing to keep their money and profits, rather than giving these taxes to the United States government, or any other government entity with heavy business and corporate tax structures. Some of the countries with favorable tax laws include: Panama, Belize, The Cayman Islands, The Cook Islands and Gibraltar. Each country invokes personal privacy and confidentiality with any financial matters.
Setting up your IBC account can be very simple, but requires the papers to be filed properly in the tax-free haven of your choice. You must provide the appropriate corporate name registration, allowing for complete asset protection and financial privacy.