Offshore companies simply have different names in different places. The most popular name is IBC – International Business Company. Other names You may come along are non-resident companies, exempt companies, special license companies, international companies or, simply, business companies. In Belize, the predominant type of offshore corporation is the IBC (International Business Company). Regardless of the name, all those entities are corporate bodies or, in legal-speak, “legal persons”, with their tax benefits enshrined in the actual laws of their country of registration. Sometimes, as in case with the recently renamed BVI Business Company, the name popularly known will not exactly be the name You would find in the law. The most popular name for an offshore company is the IBC – the International Business Company.
