Offshore IBC

An offshore IBC incorporated in the British Virgin Islands has many of the same characteristics of any company incorporated in any jurisdiction, but at the same time encompasses many advantages and benefits, ranging from less regulation, more flexibility and minimal taxation.

What is the purpose of an offshore International Business Company?
An offshore International Business Company incorporated in the BVI serves the primary purposes of any company incorporated in any jurisdiction, namely creating a legally separate entity, limiting liability to the share capital of the company, enabling the company to be operated by its director(s) and owned by its shareholder(s).

Are there different types of offshore IBCs?
There are versions of IBC's available in jurisdictions other than the BVI, such as the Bahamas, but the IBC incorporated in the BVI is by far the most significant among the jurisdictions. Every IBC incorporated in the BVI is formed under the BVI International Business Companies Act, 1984 as amended, and is basically the same. However, an IBC can then be structured in many different ways to achieve the specific legitimate requirements of the client.

Offshore IBCs - what do they cost?
The total incorporation costs of a standard IBC incorporated in the BVI is in the region of US$1,000, plus additional fees for providing assistance in the structuring of the company, if required by the client. The annual cost of providing registered office and registered agent, including the BVI Government licence fee, for a standard IBC is in the region of US$700.
A standard IBC has an authorised share capital of US$50,000. Authorised share capital in excess of US$50,000, if required by the client, attracts an additional Government registration cost of US$700, at incorporation and on each subsequent annual renewal. There is no specified maximum permitted authorised share capital.

Is setting up an offshore IBC a complex undertaking?
Once a client has established their requirement for an offshore IBC, setting it up with Caribbean Corporate Services Limited is relatively straightforward, as set out in our website.

Can I get an offshore IBC off the shelf?
Yes, shelf companies are available form Caribbean Corporate Services Limited. Contact us for a listing of companies currently available.