Going Offshore in Nevis: IBC or LLC?

Determining whether to form a Nevis IBC or Nevis LLC begins with an understanding of the entity for which it will be formed. In Nevis, IBCs operate under a well-established single-shareholder, single-director structure, making them ideal for international trade and entities with many investors. In contrast, offshore Nevis LLCs allow their members to structure their Entity’s management and ownership as they see fit within an operating agreement. For example, the Nevis LLC is often the preferred offshore vehicle for private asset holding and wealth management. In this article, we compare the IBC and LLC and outline the simple process for forming each in Nevis.

Both the IBC and LLC can be used to create new business entities and there are a number of functions that can be filled by either. It is critical to understand the primary attributes of the IBC and LLC as well as the functions that both can fulfill when determining the best new business entity for your specific situation. These attributes include issues of ownership protection, the amount of management involvement by others that is desired, the amount of flexibility that is needed to operate and foreign recognition.

Our new guide sets out the main differences between IBCs and LLCs. We have set out a number of scenarios where an IBC may be more suitable than an LLC and vice versa. In addition, we have set out reasons to form an IBC instead of an LLC and reasons to form an LLC instead of an IBC. We also compare the structure of IBCs and LLCs and the asset protection offered by both forms. We also compare the process of formation for both entities as well as the costs and government fees involved. 

Key Takeaways

• The main types of business entities used in Nevis are the International Business Company (IBC) and the Limited Liability Company (LLC).
• The typical corporate structure of an International Business Company (IBC) is that of a corporation with shareholders holding shares in the corporation and a Board of Directors that governs the corporation’s activities and follows standard corporate governance practices.
• In contrast, a Nevis LLC may be member-managed or managed by one or more managers appointed by the members.
• Why Form an IBC? An IBC is generally suitable for international trade. Additionally, the corporate structure of the IBC makes it an ideal investment holding vehicle for a group of shareholders. Shareholders can be involved in the corporation to whatever degree they choose.
• Similar requirements apply to a Nevis LLC formation and a Nevis IBC formation: both require a licensed registered agent, identity verification and due diligence checks, and filing of the corporation/limited liability company documents. However, documentation and internal corporate governance documents differ between the two structures.
• Our clients typically choose LLCs for asset protection, private investment holding, family wealth planning, and similar objectives.
• For both the IBC and the LLC structure, a licensed registered agent and a registered office in Nevis are required.
• While tax considerations should not be the sole deciding factor in choosing between an IBC and an LLC, a more informed decision would be made by considering the nature of the business to be conducted, the structure of ownership, the management of the entity, the degree of asset protection desired, and the AML/KYC/beneficial ownership requirements of the country of principal residence of the owner(s).
• Note: IBCs and LLCs alike are subject to Nevis’ Anti-Money Laundering/Know Your Customer (AML/KYC) and Beneficial Ownership regulations. 

Exploring the Options to Register an Offshore Company in Nevis 

You can register 2 types of offshore companies in Nevis: an International Business Company (IBC) and a Limited Liability Company (LLC). 

Additionally, you can register 3 types of trusts in Nevis: protective trust, charitable trust, and purpose trust, along with multiform foundations. 

What business structures are most popular with entrepreneurs who register offshore companies in Nevis? The number of offshore companies registered in Nevis in 2022 was as follows (according to the Financial Services Regulatory Commission, Nevis, March 2023):

• IBCs – 1826
• LLCs – 729
• Trusts – 106
• Foundations – 12.

As you can see, IBCs outnumber LLCs and other types of Nevis business structures. When choosing among different types of trusts, foundations, or IBC/LLC offshore companies to register in Nevis, it’s crucial to consider your specific needs and objectives. To ensure you make an informed decision and address all relevant concerns, we offer free one-on-one consultations and customized professional services.

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Nevis IBC Formation: The Advantages of Registering an Offshore Company in Nevis

First things first, let’s briefly examine what Nevis IBC actually is.

What is a Nevis IBC?

The Nevis IBC represents an internationally recognized corporate structure governed by the Nevis Business Corporation Ordinance, which was revised in 2017. They are most often utilized for:

• Businesses operating internationally and conducting global business operations
• Parent Companies/Holding Companies
• Investments from one country to another
• Structuring a corporation

Nevis IBCs allow businesses to operate as non-resident international businesses. Meaning, the taxing authority of the Nevis IBC will be based upon the country where the owner resides, NOT NEVIS.

Why Choose a Nevis IBC?

A Nevis International Business Company, or Nevis IBC, is a type of corporation formed under the laws of the island of Nevis. These corporations are formed under the Nevis Business Corporation Act (2017) and are structurally and functionally well-suited to cross-border trade and commerce.

A Nevis IBC can be set up as a holding company, an investment vehicle, or even to facilitate trade and commerce across countries. Therefore, owners can hold shares, and directors can manage the company when forming a Nevis IBC.

• A Nevis IBC can be 100% owned and managed by individuals or entities from all over the world, including through the use of nominee(s).
• Privacy: The beneficial owners of an international business company can maintain strict confidentiality regarding their identity and other personal information through the IBC’s registered agent.
• A Nevis IBC can be 100% owned and managed by foreign individuals and/or corporations worldwide. All directors and managers can be foreign, including the use of nominee directors and/or managers to maintain the anonymity of the true beneficial owner(s). All financial information regarding an IBC is strictly confidential and is maintained by the registered agent and/or the company itself. The registered agent maintains the confidentiality of beneficial ownership in strict compliance with the governing body.
• Incorporation flexibility: A Nevis IBC can be merged with a foreign corporation, or an IBC incorporated in Nevis can be transferred to or from Nevis. All shares of an IBC can be issued in any currency. Double taxation treaties entered into by the government of Nevis also apply to an IBC where applicable.

For more information on forming a Nevis International Business Company or the cost of forming an IBC in Nevis, please see our articles on IBC incorporation and the legitimate formation of an IBC.  

When Should You Choose a Nevis IBC?

The International Business Company (IBC) is generally more suitable for forming a corporation in Nevis than the LLC because the IBC is recognized as an international business entity worldwide, whereas the LLC is considered to be a purely domestic entity in the United States.

Think about Nevis IBC formation if:

• You are conducting international trade or have other global business activities.
• You prefer ownership to be represented through shares.
• You anticipate having multiple shareholders or investors.
• For an investment or holding company conducting ongoing commerce and business, a formal corporate structure with shares and directors makes the Nevis IBC the preferred incorporation solution.
• For an investment or holding company that is conducting ongoing business operations in commerce as a corporation, the Nevis IBC is the best choice for establishing a formal, standard corporate structure with shares held by shareholders and managed by directors.
• The IBC’s share structure allows you to issue different classes of stock and implement more formal corporate governance practices. 

An IBC is established as a corporation and therefore suits a company where the share(s) held by the owner(s) or external investor(s) represent their full interests in the company. The Nevis IBC is an International Business Company (established by the Financial Services Regulatory Commission (FSRC) of the State of Nevis) and has several salient features including: 1) Articles of Incorporation for an IBC can be amended at any time as the company sees fit; 2) An IBC can merge with and/or consolidate with other corporations; and 3) An IBC can be re-domiciled to another country or territory and then re-domiciled back to Nevis at a later date. 

Nevis LLC Formation: What to Appreciate When You Register an Offshore Company in Nevis

Now, moving on to the second popular option – Nevis LLC. Let’s dive a little bit deeper into its nuances.

What is a Nevis LLC?

The Nevis LLC (Nevis Limited Liability Company) is incorporated under the Nevis Limited Liability Company Ordinance (2017 revised) on the idyllic Caribbean Island of Nevis. The LLC is set up differently than the more common International Business Corporation (IBC) which is formed by articles of incorporation and follows the typical corporate structure. The LLC is set up by a private operating agreement, known as a Members Agreement.

It is commonly employed for:

• Asset protection strategies
• Family wealth management
• Private investment holding companies
• Confidential ownership arrangements 

Why Choose a Nevis LLC?

A Nevis LLC is an ideal entity for single-asset protection and for building a comprehensive private wealth structure. Additionally, an LLC can be a great vehicle to hold other entities. Because members manage an LLC, the terms and conditions can be set forth in a private members’ operating agreement. For an offshore LLC in Nevis, the operating agreement is critical, as it dictates management allocation and member distributions, among other things.

Key advantages of establishing a Nevis LLC include:

• The Nevis LLC offers members no personal liability. This means members’ assets will be protected from claims by the creditors of the LLC as long as the members have strictly adhered to Nevis law as it applies to LLCs formed in Nevis.
• Flexible Management. The Nevis LLC is an unincorporated entity and thus is not subject to the vast majority of Nevis corporate laws. Members of a Nevis LLC organize and conduct business as they desire within the parameters of the LLC as established by the operating agreement of the LLC.
• An LLC can be managed by its members or by managers. When drafting an operating agreement for an entity holding assets, it is also important to determine whether the owners can select an alternative manager to handle the LLC’s day-to-day affairs. The operating agreement should clearly outline who is responsible for making the LLC’s significant decisions, as well as how those decisions will be made and how distributions will be managed.
• Easy to Set Up and Run: As an LLC is considered an unincorporated entity it has fewer formalities than a corporation and there is no minimum capital requirement to form the entity. It can be set up with cash and/or non-cash contributions by its founders. One founder can be the manager of the company.
• Pass-through taxation: Pass-through taxation is not automatically established by the formation of a Nevis LLC and its members. The entity’s and the LLC’s tax filing requirements must be reviewed by a qualified professional. In addition, the tax requirements of each member’s country of residence must be reviewed to ensure compliance with all tax requirements.

Benefits to Forming an LLC in Nevis over simple Asset Protection. The owner(s) of an LLC are not personally responsible for any debt, obligation or action of the LLC. Another major benefit is there is no tax on capital gains earned from foreign investments. With these and other benefits to forming an LLC in Nevis, it has become a very popular jurisdiction in which to form a holding company or other entity to hold and manage your overseas investments and conduct business on an international level in a safe and cost effective manner. 

Nevis IBC vs LLC: Detailed Comparison 

For more information on International Business Companies (IBCs) and Limited Liability Companies (LLCs) please visit the website of the Financial Services Regulatory Commission (FSRC). On this website the FSRC explains that IBCs are corporations with shareholders. As a corporation, the IBC is managed by a Board of Directors and Officers of the company who are appointed by the shareholders. LLCs on the other hand are set up as a partnership and the members can choose to manage the company or have one or more managers to manage the business on their behalf. 

The Main Differences Between a Nevis IBC and LLC

International Business Companies (IBCs) and Limited Liability Companies (LLCs) are two of the most common corporate entities. IBCs and LLCs differ significantly in ownership and management.

• This means that an IBC can be 100% owned by one or more individuals via 100% fully paid and registered shares. An LLC, by contrast, is 100% owned by one or more members, with all outstanding membership interests held by those members.
• Management: The IBC is a corporation managed and controlled by the company’s Board of Directors. The officers the Board appoints conduct all of the IBC’s business. In contrast, a Nevis LLC can be member-managed or manager-managed, as the members determine.
• An LLC is generally governed by the terms of an operating agreement that outlines the internal governance of a company, how to capitalise the company, how to distribute capital amongst members, how to account for losses incurred by the company, and the rights of members.
• To facilitate the initial capitalization of an International Business Company (IBC), it is common to issue fully paid and registered shares to new investors. In contrast, a Nevis LLC does not issue membership interests to foreign investors in order to commence trading activities immediately after incorporation.
• For foreign investment and cross-border trading and business, both the International Business Company (IBC) and the LLC are often considered suitable legal entities. Because of their private nature, LLCs are often used as mere asset-holding entities. However, the LLC is often used as a holding company for other existing corporations.

Nevis IBC vs LLC: Which Structure Fits Your Situation?

Both entities have their strengths and weaknesses. That is why you would choose a specific entity to reach your objectives instead of trying to determine which one is better.

Choose a Nevis IBC if:

• A client is establishing an investment or holding company (a Type 1 entity) to manage assets worldwide for the client’s benefit in most jurisdictions worldwide.
• This type of entity (a SWET holder of assets for the client) is typically formed by clients who are establishing an investment or holding company (a Type 1 entity) to manage assets for the client’s benefit in most jurisdictions worldwide.
• You anticipate collaborating with multiple shareholders or investors.
• You prefer ownership represented through shares.
• A Nevis IBC is widely recognized among businesses.
• Typically, an IBC is used to set up a holding or investment company and thus functions similarly to a regular corporation (e.g., a corporation). 

Consider a Nevis LLC if:

• Your primary objective in structuring is asset protection.
• You are managing private investments or assets.
• Our objective is to create a suitable structure to protect our client’s assets by setting up an entity to hold his/her private investments and/or other assets.
• An LLC can be organized as either a member-managed or manager-managed entity to best suit the client’s objectives.
• LLCs can be set up as member-managed or manager-managed entities, whereas IBCs (i.e., traditional corporations) are always holders of Type 1 assets in client holding structures for private investments and/or assets.
• For LLCs, the organizational structure and level of formal corporate governance required to maintain the entity differ from those of an IBC (corporation) and typically do not require forming a Board of Directors. 

Nevis IBC vs LLC: Practical Use Cases

These are general structuring considerations rather than legal rules requiring a particular entity for a particular activity. Both structures can be used for a broad range of lawful purposes.

Can You Use a Nevis IBC and LLC Together?

An International Business Company (IBC) can be incorporated concurrently with a Limited Liability Company (LLC). This LLC can be established as a holding company for the IBC, allowing the company to be structured in different forms to support further investment, etc.

While additional structures (entities) may add complexity and expense, most configurations can function effectively with minimal additional organization.

Specializing in the establishment and the subsequent management of a variety of companies, our team is able to establish a company that best suits our client’s needs, outlining the relevant structure in respect of the Shareholder(s), the location of assets, and the appropriate geographical area in which said company will operate and be registered to conduct business. Our corporate structures are tax-compliant and meet all relevant reporting requirements in each country where the respective entity will carry out business activities. 

Nevis LLC Formation Process and Nevis IBC Formation Process

To establish and incorporate an International Business Company (IBC) or an Offshore Limited Liability Company (LLC) in Nevis, you need to select a registered agent approved by the Government of Nevis. The process to form an IBC or an LLC in Nevis is generally similar, depending on several factors, including the service provider(s) you choose and the number of shareholders a company will have.

1. Form an Offshore Business Structure: Many offshore companies are set up as Offshore International Business Companies (IBCs) and are used for offshore trading, forming holding companies, and other investment structures. Others are set up as offshore limited liability companies (LLCs). Offshore LLCs are established in offshore jurisdictions to protect owners’ assets, support private offshore wealth planning, and form other offshore business structures. 
2. Choose the name: Nevis has certain restrictions on the use of words and phrases in company names. These restrictions generally apply to financial institutions. Where a client wishes to form a company with a restricted word or phrase in the company name, a license may be granted to form such a corporation. We can check if a proposed company name is available prior to your completion of all documentation, which we will then file with the Registry on your behalf.
3. Provide KYC Documentation: The following documents are required to form a corporation in Nevis: a copy of a current valid passport plus current residential proof (dated within the last 3 months), a letter confirming the source of funds or wealth, and details of the intended business activities. Where beneficial shareholders or members are going to be appointed, then additional KYC documentation will also be required.
4. Once the Articles of Incorporation (for IBCs) or the Articles of Organization (for LLCs) for your offshore entity have been completed, we will then file these documents with the Registry of Companies, which is the main government office of the Government of Nevis at the registered office of your corporation.
5. As the new agent for the newly formed corporation, within a few days of incorporation, offshore corporations incorporated in Nevis receive formal documentation from the registered agent that formed the corporation for them of their new status as a corporation. This documentation consists of a Certificate of Incorporation/Formation for the offshore corporation, plus a copy of the Articles of Organization (also referred to as the Articles of Incorporation) for the new offshore corporation. In addition, a copy of the Register of Members/Shareholders for the newly incorporated offshore corporation may be required and therefore supplied by the registered agent. Furthermore, minutes of all meetings held by and on behalf of the corporation and/or all resolutions required to be passed by the corporation and/or its shareholders and/or directors of the corporation under Nevis laws will also be required and supplied by the registered agent.
6. Offshore companies incorporated in Nevis do not disclose financial information such as annual reports in a public filing. However, corporations incorporated offshore, such as in Nevis, are required to maintain all financial records and other documents as a local corporation would, and such information must be supplied to the relevant authorities within a time frame established by law. Nevis offshore corporations must also comply with all anti-money laundering/know-your-customer legislation as well as notify the Registry of Companies of any change in beneficial ownership of any corporation incorporated in Nevis.

Even if financial information such as annual accounts is not published in the country where an offshore company is incorporated (e.g., BVI, Cayman), an offshore corporation that has been dissolved or removed from a register must keep its accounts and other documents for several years after dissolution or removal from the register. The relevant documents must be made available to any authority within a time frame set by said authority.

Nevis IBC vs LLC: Advantages and Limitations

Both IBCs and LLCs offer many advantages. The framework combines extremely favorable local legislation with great confidentiality and a solid legal framework. However, it is important to understand the main differences between the two structures to determine whether either is suitable. 

Advantages of a Nevis IBC

Many types of businesses use Nevis IBCs as their standard corporate entity.

• Nevis IBCs typically conduct foreign trade, holdings, and other investments.
• Nevis has comprehensive laws relating to Nevis IBCs that govern how such corporations carry on business and interact with shareholders and directors.
• In addition, double taxation can be avoided through the many tax advantages provided by double taxation treaties with other countries.
• Equity can be issued to facilitate company growth and to attract new investors to the company whose objectives are aligned with the share capital of the company.
• Businesses worldwide operate under the structure of a Nevis IBC. 

Potential limitations of a Nevis IBC:

• More formalized corporate governance procedures may be required.
• Some aspects of the IBC’s structure are less flexible than an LLC under Nevis IBC law.
• The asset protection afforded by an IBC is generally less flexible than the equivalent afforded by an LLC. 

Advantages of a Nevis LLC

The Nevis LLC is a very effective vehicle for private wealth planning structures. The asset-protection advantages of a Nevis LLC make it one of the most robust, if not the most robust, structures available under Nevis law for this type of protection. 

• LLCs are among the most effective asset protection entities available today under Nevis law.
• Unlike corporations, LLCs are managed by members under an operating agreement, which gives members flexibility to define the LLC’s management structure and enter into mutual agreements among themselves.
• A few individuals typically manage the company, as detailed in the company’s operating agreement and other agreements between members.
• This flexibility can be especially important for private investment structures, family wealth planning, and holding companies, etc.
• Members can structure management of a Nevis LLC as they choose in their operating agreement. In general, a Nevis LLC’s management consists of a few people responsible for overseeing the company’s activities and ensuring it operates in accordance with the terms and conditions of the Operating Agreement and agreements between members.  

Potential limitations of a Nevis LLC

• Unless specifically designed to raise capital, it is generally not recommended to use a Nevis LLC to raise outside funds for a new venture.
• No double tax treaty relief would be available for an LLC when structured as a corporation (i.e., an IBC).
• Less informed foreign investors or business partners (such as partners or shareholders in a corporation) may view the LLC structure unfavorably unless they are familiar with how it works.

Whether you choose to conduct international business in the structured format of a well-established corporation such as a Nevis IBC or whether you choose to go with a flexible contract-based structure such as a Nevis LLC will depend on the particular circumstances and goals of that individual. 

Nevis Company Incorporation Requirements

When incorporating a company in Nevis, whether it is to be an IBC (International Business Company) or a Nevis LLC (Limited Liability Company), there are essential requirements that need to be met.

Nevis IBC Incorporation Requirements:

• Minimum of 1 shareholder
• Minimum of 1 director (for private IBC)
• A registered agent in Nevis is required
• No minimum share capital requirement 

Nevis LLC Incorporation Requirements:

• Minimum 1 member
• Operating agreement recommended
• Registered agent required
• Flexible capital contributions (cash or non-cash)

Both structures require:

• Registered agent in Nevis
• Maintenance of internal records
• Compliance with AML/KYC standards

Which is Better: Nevis IBC or LLC?

Whether a Nevis IBC or a Nevis LLC suits your needs depends on several factors, which we outline below. Our preferred offshore solution will depend on the intended use of the company and the preferred management structure of our client(s).

Offshore corporations like the Nevis IBC are usually best for businesses set up as corporations to facilitate international trade and other cross-border business activities. They suit companies with many shareholders or investors, where a conventional shareholder-and-director structure is preferred. The Nevis IBC is an excellent offshore corporation for share-based ownership and for complex corporate structures with partners worldwide.

• International trade and cross-border business activities
• Companies with multiple shareholders or investors
• Conventional structures of shareholders and directors
• Ownership models based on shares
• Corporate frameworks involving international partners

While a Nevis IBC is often recommended to our customers, a Nevis LLC is more suitable for private investors who want more flexibility in their offshore investment vehicle’s membership and management. Offshore LLCs are often used for asset protection, private investment holding, family wealth planning, flexible internal management, member-managed structures, or structures managed by appointed managers.

• Asset protection
• Private investment holding
• Family wealth planning
• Flexible internal management
• Member-based ownership
• Structures managed directly by members or appointed managers

In summary, IBCs are the typical offshore vehicle for cross-border business transactions, whereas LLCs are more typical for private investment holding, wealth planning, and asset protection structures. The LLC can be set up as a member-managed or manager-managed entity as preferred by the owner.

Ultimately, the choice between a Nevis IBC and a Nevis LLC will be determined by your intentions for the company and your preferences regarding management, asset protection, and flexibility. 

Legal Framework for Offshore Companies in Nevis

Nevis International Business Companies (IBCs) and Limited Liability Companies (LLCs) are created under the Nevis Business Corporation Ordinance, the Nevis Revised Businesses Act, and the Nevis Limited Liability Company Ordinance, respectively. All offshore corporations formed under the Nevis corporations laws must be administered by a registered agent licensed by the Government of Nevis. As with all offshore corporations worldwide, IBCs and LLCs are subject to the Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. However, the anonymity of the ultimate owner or of the controllers of a Nevis corporation is absolutely protected, and Nevis is in full compliance with all current international transparency legislation as required by the OECD and FATF.

Taxation Rules in Nevis

However, Nevis tax laws generally do not apply to the earnings of a non-resident IBC or LLC. The tax laws of Nevis will, however, apply differently to an IBC or LLC that is owned by a non-resident individual or a non-resident corporation than to an IBC or LLC owned by a resident of Nevis. In addition to an understanding of the taxation laws of Nevis with respect to offshore corporations and LLCs, it is also necessary to understand the taxation laws of the foreign country in which the owner(s) of an offshore corporation or LLC reside. The foreign country may have Certain Foreign Corporation (CFC) rules that apply to an IBC or LLC owned by a citizen or tax resident of that country. In this regard, it would be wise to seek the advice of a tax expert in the foreign country in question prior to the formation of an offshore corporation or LLC.

Nevis also recognises a number of conventions intended to prevent double taxation and benefit exchange between Nevis and other countries. There are currently 6 Double Tax Treaties (DTTs) and 21 Tax Information Exchange Agreements (TIEAs) in force with Aruba, Australia, Belgium, Canada, Curaçao, Denmark, the Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, Liechtenstein, Netherlands, New Zealand, Norway, Portugal, Saint Maarten, Sweden and the United Kingdom. 

Common Mistakes When Choosing a Nevis Structure

Many people, including clients and advisors, misunderstand the advantages of offshore entities and the differences between an International Business Company (“IBC”) and a Limited Liability Company (“LLC”) in Nevis offshore structures. Most problems with the structure of offshore entities available in Nevis stem from misunderstandings by clients and their advisors, not from the Nevis jurisdiction itself.

• Using the “tax savings” of a Nevis structure to make the decision between an IBC and an LLC for your client.
• Failure to identify and comply with home country reporting requirements of the holder of a Nevis offshore structure, including tax residency requirements under CFC rules and reporting of foreign income.
• Many people believe that an offshore company can be established completely anonymously. However, under anti-money laundering/anti-terror financing laws worldwide, all offshore corporations must have a registered agent in the offshore jurisdiction where the company was incorporated. The corporation itself can be established anonymously, but the registered agent will maintain a record of all individuals involved with the corporation.
• Many common errors in selecting offshore structures and entities arise from misconceptions about the intended purposes of different forms of offshore corporations, such as incorrectly choosing an IBC over an LLC for asset protection and greater management flexibility for members or managers.
• Another mistake is starting the Nevis LLC formation process before deciding who will manage the company and what the operating agreement should cover.
• Failure to maintain a minimum number of corporate documents and other corporate records; failure to update and maintain accurate information regarding the beneficial owners of a structure; and failure to provide a timely and accurate response to any request for information regarding the structure from any government or other entity worldwide. 

Conclusion

Based on the points raised above, we would recommend Nevis as one of the offshore jurisdictions. Both the IBC and LLC structures will help clients achieve their objectives, whether legal, tax, or business-related.

Important factors to consider when choosing between structures include the benefits each structure offers and how they compare. Such factors include the nature of the business the new structure will conduct, the level of current asset protection the client already has in place, the degree of flexibility required within the corporate structure, and the various methods of trading the client intends to use. In addition, several key issues must be considered regarding compliance with legislation in other jurisdictions worldwide. Both the IBC and LLC are extremely flexible and can be set up to achieve the client’s long-term objectives.