An International Business Company, or IBC, is commonly used as a specific vehicle to channel investments, or to trade, with inexistent or very limited tax impact.
Mostly located in offshore centers with low or inexistent access to the register of directors and shareholders an IBC is publicly decried as a tool for malpractices and criminal activities.
Despite a bad public reputation, an International Business Company is still part of many concepts for assets and privacy protection
The bank acceptance is clearly an issue as after years of intensive usage by banks the same are rejecting bank account openings or terminating existing accounts because of the AML controls over tax evasion and the important time to be focused on the compliance process.
Using an International Business Company for a structuration should be then assessed with the support of specialists understanding the selected bank risk appetite, as we are.
Nominee services and Compliance team
The use of nominee services for an International Business Company located in a jurisdiction not offering public access to the register of directors and shareholders is becoming a major issue with the banks, not only it’s difficult to justify an additional layer of privacy but also this put the compliance team under pressure.
Within Asia-Pacific we recommend Seychelles and Samoa, Mauritius being also an option
Panama, Belize, Cayman and BVI companies etc… are often more difficult in term of bank acceptance with major financial institutions except by their private banking departments.
Using a privacy and confidentiality layer shouldn’t be regarded only as a tool to evade; in many countries wealth should be discreet as the risks of being victims of criminals are important.
Contact us to define the best IBC for your needs, tell us about your goals.