International Management Trust Services

International Business Companies (IBCs) - Introduction

Asset protection can be easily and comfortably established and enjoyed for generations to come, or a complete nightmare if not structured properly.

There are three basic structures that can be employed, based on the specific needs and requirements; IBC's, trusts and private foundations.

Here we discuss the IBC; please also see trusts and private foundations.

International Business Companies (IBCs)

  • Taxed on income on a sliding scale, from a maximum of 2.5% to a minimum of 1%
  • Taxes paid in a foreign country may be credited against tax payable in Barbados, provided that the credit does not reduce the tax payable in Barbados to less than 1% of taxable income
  • Profits exempt from tax if the company's shares are all owned by an Offshore Trust, the company is managed by an international financial institution and its activities are restricted to buying, selling, holding or managing securities
  • Tax concessions for specially qualified non-residents whose services are required for the business
  • Equipment and machinery necessary for the conduct of business can be imported free of customs duty, consumption tax and stamp duties
  • May keep books and records in a foreign currency
May apply for a guarantee that benefits and exemptions will be valid for 15 years.

An International Business Company, or IBC, is a statutory limited liability company, created and domiciled, in a jurisdiction where tax concessions are available to non-residents. ALL INFORMATION PERTAINING TO THE BENEFICIAL OWNER AND DIRECTORS IS CONFIDENTIAL AND CAN ONLY BE ACCESSED BY THE REGISTERED AGENT.

The IBC can provide a corporate shield through which an individual, group, trust, or existing corporation can run a business, make investments and hold assets in a protected environment while the beneficial owner maintains complete anonymity.

An IBC, as a statutory body with a life of its own, has the ability to enter into contracts or function as an international trading company, possibly incurring little or no tax liability, depending on the legal residence and citizenship of the beneficial owner. Being domiciled offshore, the IBC is only subject to the laws and regulations of the jurisdiction in which it is registered, and because it has non-resident status, it will have access to investment or business opportunities that may not be readily available in the owner's country of residence.

Offshore companies can be conduits for international trading import/export, consulting, international investment and the holding of property, copyrights, patents or royalties, in an asset protection oriented jurisdiction.

IMT as a licensed incorporating agent can provide a corporate director, which can sign on behalf of the IBC for any transaction or contract allowable in the country of registration.