I. IN GENERAL
An International Business Company, or IBC as it is commonly known, as an entity created and designed for the main purpose of providing a vehicle for persons or a group of persons to utilise in order to carry out any legal purpose or activity such as:
- Investment vehicle to handle investments offshore;
- Open an international bank account;
- Transact foreign exchange business without exchange controls or restrictions;
- Guarantee a liability or obligation of any person and to secure any of its obligations by mortgage, pledge, or other liability of any of its assets;
- Protect the assets of the company for the benefit of the company, its creditors, its members, and of any person with a direct or indirect interest in the company;