| International Business CompaniesAn IBC is a | | | | allows you to retain 100% control of your IBC's |
| corporation that is incorporated (formed) in a zero | | | | assets. When an attorney hires a private |
| tax or low tax jurisdiction and is typically | | | | investigator to locate assets, it is extremely |
| authorized to do business anywhere in the world | | | | unlikely that they will be discovered. Keep in mind, |
| except its home country (i.e., an IBC formed in St | | | | in the offshore jurisdictions we typically utilize, |
| Vincent and the Grenadines may do business | | | | there is no social security number or social |
| anywhere in the world except St. Vincent and the | | | | insurance number required in order to open an |
| Grenadines). Just as with U.S. corporations, the | | | | IBC bank account. It is a crime for a banker to |
| same person may act as the shareholder, | | | | reveal your association with a bank account to an |
| director, officer of the company. As long as the | | | | individual outside of the bank. Your ownership of |
| Company has only one shareholder, one person | | | | an IBC is not recorded in any public record.There |
| may act for the company. If the Company has | | | | are countries with IBC laws that take privacy |
| more than one shareholder then a minimum of | | | | very seriously. The asset protection provisions in |
| two directors is needed.An IBC (also known as | | | | some countries are extremely strong. Many of |
| "International Business Company" or "International | | | | these countries are island nations that have |
| Business Corporation") is a legal entity, usually a | | | | become financially strong by offering a |
| Corporation or Limited Liability Company, formed | | | | safe-haven in which to store one's money.One of |
| outside of one's country of residence.The | | | | the strongest IBC asset protection laws found in |
| definition of international is, "Of, relating to, or | | | | on the Island of St Vincent. St Vincent is located |
| involving two or more nations." (In this instance, | | | | in the Caribbean Sea and is about a 35 mins. flight |
| you live in one nation and your IBC is created in | | | | East of Barbados.The St Vincent and the |
| another.)A business is, of course is, "A commercial | | | | Grenadines IBC laws offer substantial privacy of |
| enterprise or establishment."A company is "A | | | | ownership. The St Vincent and the Grenadines |
| business enterprise; a firm."Alternatively, a | | | | Limited Liability Company (LLC) law provides an |
| corporation is "A body that is granted a charter | | | | additional barrier. There are provisions in St |
| recognizing it as a separate legal entity having its | | | | Vincent and the Grenadines LLC law to protect |
| own rights, privileges, and liabilities distinct from | | | | LLC assets from being seized in a lawsuit if the |
| those of its members."So, when you create an | | | | registered office of the bank holding the assets is |
| IBC you are creating an entity that has been | | | | registered in Switzerland. Corporations have |
| granted a charter by a foreign government to | | | | stockholders. LLC's Registered in St Vincent and |
| conduct a commercial enterprise. You have | | | | the Grenadines with the Swiss Trust Bank are |
| created a legal foreign "person" who you control. | | | | effectively judgment proof.St Vincent and the |
| You can open a bank account in the name of | | | | Grenadines IBC law makes it extremely difficult to |
| your IBC in a foreign country. Your international | | | | establish who a director or principal of a company |
| business company can receive income. Your | | | | is since the Swiss Trust Bank has to abide by the |
| international business corporation can operate a | | | | Swiss Banking code and deny the existence of |
| business. There are a number of countries in the | | | | the company, its directors and who its customers |
| world that have greater financial privacy laws than | | | | are. Therefore, assets such as offshore bank |
| the US, Canada, UK, Australia, China and other | | | | accounts can be protected from judgment |
| lawsuit-prone or high-tax, jurisdictions.With the | | | | creditors in two ways:1. Privacy because St |
| advent of the Internet, a business location is really | | | | Vincent and the Grenadines IBC law protects the |
| not nearly as significant as it has been traditionally. | | | | owner of the LLC from being revealed.2. Asset |
| The location may now be no more digital data | | | | protection, because St Vincent and the |
| that can be accessed from an Internet server | | | | Grenadines IBC law protects the assets within the |
| located anywhere in the world.Therefore, creating | | | | LLC from being associated with a member of the |
| an IBC allows one to operate a business or hold | | | | LLC.Therefore, the bank account for your St |
| existing funds securely and privately, off of the | | | | Vincent and the Grenadines LLC can be protected |
| "radar screen" of your legal enemies.We have all | | | | from being taken away from you in the event of |
| heard the stories of attorneys who have their | | | | a personal lawsuit. Many people use IBCs to |
| own full-time private investigators. They are hired | | | | operate businesses such as online pharmacies, |
| by many law firms to track down assets of | | | | Internet gaming sites, etc., protect assets from |
| people who have lost legal battles. They are also | | | | lawsuits and provide for tax-free revenue for |
| hired to uncover the assets of potential legal | | | | residents of countries that do not tax worldwide |
| targets. It is said that if they know your name | | | | income.The St. Vincent and the Grenadines IBC is |
| and a little bit about you, they can find every | | | | a vehicle of choice for persons seeking a flexible |
| account in the United States on which you are | | | | and modern corporate vehicle through which to |
| the signatory. They can even find your bank | | | | do business. The IBC is exempt from any |
| balances down to the penny.I have seen this | | | | corporate, income, withholding, capital gains or |
| happen and I have to say, the speed in which the | | | | other taxes on income or assets for 25 years.Do |
| investigator can find assets even amazed | | | | you want to know more about Certificates of |
| me.Attorneys use this information to decide | | | | Deposit and Offshore Company Formation? You |
| whether or not to accept a case. If assets | | | | need to call Swiss Trust Bank Now on |
| cannot be located, it would be likely an attorney | | | | 001-784-458-2400 |
| would not accept the case - especially on a | | | | for a more informal discussion.The Author of this |
| contingent-fee basis.This is where the International | | | | article David Morgan is manager of the Swiss |
| Business Company comes in. The IBC allows you | | | | Trust Bank Group and has over 20 yrs |
| to hold assets out of your name in a safe, secure | | | | experience in the banking and financial world. |
| financial centre. At the same time, the IBC also | | | | |