WHAT IS AN OFFSHORE CORPORATION (IBC)?

A corporation is an entity recognized by law as a separate "person" with limited liability. It is similar to a domestic  incorporated company, created under the authority of a statute. The primary difference is the allowance in certain "Havens" of a tax-exempt status, in order to attract new business to their otherwise remote location. A Company is a separate legal "person" for tax reporting purposes. A corporation has the option to sell shares, the right to sue and be sued, and has perpetual existence.