What are the Benefits of Setting Up an IBC?

An International Business Corporation (more commonly known as “IBC”), as the name implies, is a company that you form at an offshore jurisdiction under the chosen jurisdiction’s laws. With your new offshore company’s formation, you can break the restrictive chains of onshore bureaucracy and benefit from a host of lenient tax norms.

But that’s not all there is to IBC. Let’s take a look at some other benefits of setting up your business overseas:

Offshore banking: You can have offshore bank accounts in the name of your IBC in complete privacy under tax-free jurisdictions such as Panama. The good part is that due to the privacy and confidentiality law, no one but you can get a whiff of the existence of the bank accounts.

Asset protection: You can use an IBC to shield your assets from litigations (malpractice suits as well as product liability) against you or your business.

Property: Using an IBC, you can buy and keep real estate, precious metals, and shares of any offshore company.

Retirement benefits: Using an IBC, you can protect your assets for retirement. All you have to do is pass your assets into an IBC so that no tax is applicable.

Loans: You can take out a loan from your offshore company to finance your onshore company.

Investments: With an IBC, you can invest in international markets, bonds, and commodities. You can also do stock trades using your IBC brokerage account.

Intellectual property: You can now protect your intellectual property through an IBC due to a reduction in reporting and regulatory compliance.

Well, there you have it! These were some of the benefits that come with offshore IBC formations.

If you are interested in taking your business offshore and get the business flexibility you always dreamed of, get in touch with Liberty Enterprises, Inc. today. In as little as two days, they can help you take advantage of some of the most incredible offshore jurisdictions and enjoy complete confidentiality in your corporate affairs.

How To Start Your Sports Betting Business & Make A Killing?

 

Running your sportsbook is an alluring prospect. Statistics mention that it’s a market worth over $3 million. More than $150 billion is wagered in the United States alone. So here’s a quick overview of the possibilities you can profit from and make a killing.

Your Options

You may have the following options if you’d want to run a sports betting operation:

·        Open land-based sportsbook

·        Become a bookie

·        Open online sportsbook in a licensed market

·        Use Price Per Head services

·        Launch online sportsbook in offshore markets

The land-based betting option is legal, gets you more customers, and is reputable. But it confines your business area, attracts no online bets, and requires tons of background work.

Becoming an (illegal) bookie demands smaller startup costs, needs less management and can recruit customers with even word of mouth. However, it’s illegal, you cannot collect losses, plus it’s a felony in a lot of countries.

Having an online sportsbook merchant account comes with a lot of room for growth, is licensed, and has mainstream advertising options. You may think it’s expensive to get yourself onto the online platform, but partnering with the right service provider may help you significantly.

Opening an offshore sportsbook entails slight licensing requirements, serves several states, and avoids multiple regulations. You may ideally have to deal with prosecution or being in a gray area in several countries. Again, these challenges can be averted when you contract with a qualified service provider who also arranges transactional facilities such as high-risk credit card processing.

Price Per Head operations is an easy way to start offshore on a smaller scale. But you can’t customize all the aspects of your processes.

Making Big Profits

Whatever options you choose, these tips may further come in handy:

·        Gain financial and management know-how

·        Get going with your social media marketing techniques

·        Gain financial and management know-how

·        Consider line shading for extra profits

·        Offer reduced vigorish and get more business

·        With a PPH business, retain tighter groups

·        Balance action on both sides

·        Set bet limitations

·        Use loyalty benefits to maintain the user-base

·        Hire legal representatives to ward off any mistakes

Takeaway

There’s no clear path to get started in sportsbook – a lot of work goes behind making it big. Also, it’s no get-rich-quick plan. If you have a passion for the industry and the business, you have stronger chances to get to the top.

The Why and How of Setting Up an IBC

 

Offshore companies, also known as International Business Corporations (“IBCs”), are growing increasingly popular among individuals and businesses alike.

But why?       

One of the primary reasons behind the growing popularity of IBCs is tax savings. The populace from high tax countries (e.g., the U.S.) often consider offshore IBC formations in tax-friendly jurisdictions (e.g., Panama) to reduce their tax liabilities.

Other reasons include:

●      An offshore business formation offers legal asset protection by making your assets more confidential and private.

●      Offshore jurisdiction imposes much lesser fees than onshore jurisdictions.

●      It is possible to establish an offshore company without disclosing the information of the nominee manager or director. This ensures maximum confidentiality and anonymity of business corporations and affairs.

Establishing an offshore presence for your business can be a very beneficial prospect, to say the least. However, there are a few details that you need to consider before taking your business overseas:

●      Firstly, you need to select an offshore jurisdiction that allows you to legally conduct business operations. Research the local laws and regulations of the offshore jurisdiction you are considering carefully. For example, many offshore jurisdictions will not allow online casinos to operate without a gaming license, whereas some do not have this requirement.

●      Next, the privacy and confidentiality of the jurisdiction need to be taken into account. Does the jurisdiction allow bearer shares and nominee directors? Does the jurisdiction have any treaties with other countries to share information?

●      Once your company has been established, an offshore bank account must be set-up. The bank must be fully insured, have had a background check, and offer a high level of service with Internet, telephone and fax banking.

●      Reliable offshore merchant processing must also be put in place, allowing you to accept payments from your customers by credit card and settle to the privacy of your offshore IBC company bank account.

These are just a few of the many aspects you will need to consider in regards to your quest for a stable offshore banking solution.

Is offshore banking illegal?

Although offshore banks are often treated with suspicion, they are perfectly legal. They are simply bank accounts set up in any country that is not your country of citizenship. They are not too different from a domestic bank account.

Using offshore banking to avoid paying taxes you legally owe or for illegal activities? That is, of course, illegal, but not because offshore banking sits in some gray area of the law. An offshore account is just a tool, and these two things are illegal anyway. Think of it this way: breaking a car window using a screwdriver is illegal. But that does not make the screwdriver illegal, does it? It is the same with offshore banks. They are tools that, like anything else, can be used for both good and bad.

So, if offshore bank accounts are more or less the same as domestic bank accounts, why would someone go through the trouble of setting one up?

Great question! The answer lies in the many benefits an offshore bank account can provide.

For one, it offers enhanced account privacy. You must declare your income in your country, but that does not mean that everyone needs to know where it came from. As long as you earned that income legally, it is nobody’s business to know exactly how you earned it… right? Of course, you will have to reveal your income sources during an audit, but as long as you are doing nothing illegal, that is nothing to be worried about.

Secondly, offshore bank accounts protect your assets from lawsuits. This is a big one! In today’s society, where there is always that lingering threat of being sued and losing everything, an offshore bank account can help you protect what you have worked so hard to build.

Lastly, offshore bank accounts are an excellent option for businesses that require a high-risk credit card processing account or need to accept payments in the local currency. 

Not only is offshore banking legal, it often makes more sense than domestic banking! However, before you consider setting up an offshore bank account, ensure you learn everything about the jurisdiction you are opening the account in.