International Business Company’s ("IBC’s") are companies incorporated in the British Virgin Islands ("BVI") under the International Business Companies Act, 1984, but whose business is to be conducted outside the BVI, and which may not do business with any person resident in the BVI.
International Business Companies Act, 1984
IBC’s are a very popular and widely used offshore vehicle because of their administrative ease, flexibility, taxation exempt status and the fact that they are widely accepted and understood by the international financial community. IBC’s may not own real property in the BVI, other than the lease of an office, and may not carry on banking or trust business (unless licensed under the Banks and Trust Companies Act, 1990) or insurance or re-insurance business (unless licensed in the BVI to carry on that business). Otherwise, they may engage in any activity that is not illegal under the laws of the BVI subject to any restrictions in their Memorandum of
