The heart of the practice is domestic and international business transactions and disputes.
The International Business Company is a product of special
legislation in many jurisdictions such as Seychelles, Belize,
Panama, Bahamas and the British Virgin Islands (BVI), to name a
few. IBC entities are characterized by the following:
•
No taxation on foreign earned income.
•
Limited liability of its members.
•
Exemption from local taxes and stamp duty.
•
Privacy and confidentiality.
•
Simple company formation.
•
Limited or no ongoing filing requirements.
•
Inability to trade within the country in which it is domiciled.
The IBC is popular for holding offshore investments,
international real estate and as a personal services company for
expatriates working abroad. Most of the time these companies do
not qualify as a tax resident for the purpose of accessing
double taxation avoidance treaties.
Quick Facts
Don't
be penny wise, pound
foolish. Have your
contracts
reviewed/drafted by an
HLA attorney.
Business transactions
are a delicate balance
of nurturing the deal
while protecting the
client's interests.
