One IBC Shares Two of Customers’ Commonly Asked Questions About International Business Companies
The following article offers the answers to two often asked questions by customers: 1) What are Advantages of International Business Companies? and 2) Are there Any Disadvantages to working with International Business Companies?
According to One IBC, doing international business is more economical for businesses. Furthermore, when co-operating with One IBC, the company makes sure that you are satisfied with the location of your international business corporation so that it does not interfere with your business objectives and does not leave you concerned about the region's political or economic stability.
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There are quite a few misconceptions about international business companies. So much so that many businesses that could greatly benefit from them never consider them an option because you don't know enough about them. Perhaps the answers to these questions about international business companies, commonly asked by One IBC customers, can help you decide if your company might benefit from establishing one.
Mr. Le Hung Anh - CEO of One IBC Group
What are the Benefits of International Business Companies?
There are quite a few important benefits for having an international business company for your business.
- They are legal entities that enjoy tax-exempt status.
- Their liabilities are limited, which provides incredible lawsuit protection.
- International business businesses provide financial anonymity allowing you to protect your privacy.
- They provide asset protection for businesses seeking to spread assets into different regions.
- International business companies must jump through far fewer financial and record-keeping hoops than onshore companies.
International business companies create excellent overseas financial centers. Depending on where your international business company is located, they can also provide an incredible amount of privacy for your business needs.
One final, and important, benefit to consider with international business companies is the fact that these companies facilitate trade and business arrangements with businesses from other countries more easily. International business companies exist in locations that provide more flexibility when it comes to business laws, allowing businesses greater latitude and discretion. Not to mention simplified paperwork and accounting. Most importantly, it makes doing business more affordable for companies.
Are there Any Drawbacks with International Business Companies?
If there is a drawback, there is only a major one to contend with. This drawback is that you cannot conduct business in the territory where the international business company is incorporated. If you were to conduct business within that territory, your business would become an onshore business and lose the benefits operating as an international business company provides.
One word of caution that all businesses need to heed when it comes to international business companies is that the safe harbour they provide only exists if the money stays in these international business companies and territories. Once you distribute the assets or income these businesses generate, those proceeds are subject to taxation in the legal jurisdiction where the person receiving the proceeds resides.
One other concern with international business companies is the stability of the region or territory where your company is incorporated. One IBC will work with you to ensure you are comfortable with the choice of your international business company's location so that it doesn't interfere with your plans to conduct business and it doesn't leave you worried about the political or economic stability of the region.
If you have questions or are ready to take the plunge and incorporate an international business company of your own, be sure to contact One IBC to assist you with all aspects of incorporating, and managing your business.
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