‘IBC’  is an abbreviation for ‘International Business Company’, and both terms are often used interchangeably with ‘offshore companies’. Such companies are registered in zero-or low-tax jurisdictions and enjoy exemption from local taxes. They are most often used for investments and international trade. International Business Companies enjoy the same rights offshore as other common offshore company forms such as LLCs and can engage in various business and investment activities around the world. No restrictions or excessive rules apply to it but for one exception: an IBC cannot engage in commercial activities in the jurisdiction of its incorporation to be entitled to low or no tax locally.