Current offshore country list.

Since the list of offshore countries is reaching its completion, I have decided to list the current offshore locations and then to add the countries that I am going to be adding in the future. The current list:

• United Kingdom
• Cyprus
• Gibraltar

International business company

International business company (IBC) is a specific company type that is used for the sole purpose of offshore incorporation. The IBC are based on the International Business Companies Act, that took place in 1984. An IBC is formed under the laws of a specific jurisdiction and does not engage in any kind of business in the place of incorporation. The specific charistics of each individual jurisdiction may vary but as long as they all fall under the companies act they qualify as an IBC.

Brunei

Brunei or officially know the Nation of Brunei, the Abode of Peace is located on the north coast of island Borneo. A sovereign state that gained independence in 1971 from the UK. Most of its economy is built on the export of crude oil and natural gas in the Liquefied form. They also are a large exporter of honey and honey related products, fishes and fish products, fruits and rice.The official language of Brunei is Malay, although English and Chinese are also used. The official currency is Brunei dollar.

Facts about companies in Brunei and their incorporation

The registration fee for incorporation in Brunei is 500$, for any size of a IBC share capital.

International business company

International business company is a type of an offshore company that is formed under a law of a specific jurisdiction as a company that is not allowed to engage in business in the country of incorporation and is untaxed.

IBC usually are recognized for:

• Complete local tax evasion, as long as it's not engaged in business in the country of incorporation, the annual reports may still have to be filled and the yearly agents and registration fees may still have to be paid.
• Confidentiality -  preserving the company owners personal data.
• Wide range of business  - The scope of the range may depend on the country in witch the company is incorporated.

Most know for and usually incorporated IBC are in these countries:

• Barbados
• Anguilla 
• Bahamas
• Belize 
• Brunei
• Dominica 
• Marshall Islands
• Seychelles
• Saint Vincent

Only on couple of these countries I have information in my blog. So there are a couple of upcoming articles needed to be written about the new countries in the previously mentioned list.