Articles
The Why and How of Setting Up an IBC
by Confidential Banking #1 Merchant Processing ServicesOffshore companies,
also known as International Business Corporations (“IBCs”), are growing
increasingly popular among individuals and businesses alike.
But why?
One of the primary
reasons behind the growing popularity of IBCs is tax savings. The populace from
high tax countries (e.g., the U.S.) often consider offshore IBC formations in tax-friendly
jurisdictions (e.g., Panama) to reduce their tax liabilities.
Other reasons include:
● An offshore business
formation offers legal asset protection by making your assets more confidential
and private.
● Offshore jurisdiction
imposes much lesser fees than onshore jurisdictions.
●
It is possible to establish an offshore company without
disclosing the information of the nominee manager or director. This ensures
maximum confidentiality and anonymity of business corporations and affairs.
Establishing an
offshore presence for your business can be a very beneficial prospect, to say
the least. However, there are a few details that you need to consider before
taking your business overseas:
● Firstly, you need to
select an offshore jurisdiction that allows you to legally conduct business
operations. Research the local laws and regulations of the offshore
jurisdiction you are considering carefully. For example, many offshore
jurisdictions will not allow online casinos to operate without a gaming
license, whereas some do not have this requirement.
● Next, the privacy and
confidentiality of the jurisdiction need to be taken into account. Does the
jurisdiction allow bearer shares and nominee directors? Does the jurisdiction
have any treaties with other countries to share information?
●
Once your company has been established, an offshore bank account must be set-up. The
bank must be fully insured, have had a background check, and offer a high level
of service with Internet, telephone and fax banking.
●
Reliable offshore merchant processing must also be put in place,
allowing you to accept payments from your customers by credit card and settle
to the privacy of your offshore IBC company bank account.
These are just a few of
the many aspects you will need to consider in regards to your quest for a
stable offshore banking solution.
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About Confidential Banking 
#1 Merchant Processing Services
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Created on Dec 10th 2020 07:23. Viewed 199 times.
