IBC vs LLC companies

[AndrewT]

I keep reading about these two types of companies so can anyone shortly explain what they are or what are their advantages compared to each other.

 

[JohnLocke]

IBC is a most used term for offshore companies that can't do business locally and LLC's is a suffix for a US company type.

 

[healthfitness]

Yes, Admin is correct... An IBC a term that means International Business Company, and this is a generic term to describe companies established overseas, and not domestically. An LLC is a US corporate structure that means Limited Liability Company. The best way to look at an LLC is like a combination of a Partnership and a Corporation.

 

[EliVonC]

Can I assume you saw these two options in St Vincent and The Grenadines? If you need to incorporate just for offshore banking purposes, the form of the company doesn't really matter. LLC is usually less expensive in terms of incorporation, but has more expensive annual fees than an IBC. For both you can always add the nominees to protect your privacy.


The difference is in the official company documents (IBC has Shares Certificate and Memorandum and Articles, LLC has Membership and Operating Agreement/By-Laws accordingly) and the officers (IBC has Shareholders and Directors, LLC has Members and Managers).


Regarding the suffixes: IBC can have Ltd, Limited, Inc, Corp etc, LLC can only have LLC.

 

[plotoffshore]

Thank you for asking and to answer. I won't ask such question because I though it was stupid. I'm happy someone did...

 

[TomEthi]

IBC is a most used term for offshore companies that can't do business locally and LLC's is a suffix for a US company type.

Thanks for clearing that up! I was confused when I heard the term IBC till now, actually.

 

[drillbill]

Do you incorporated a offshore company or did you gave up finally?

 

[averagejoe]

This guy is not here any longer :noevil:

 

[DeMajor]

I read that a Seychelles company can have a "suffix" like LLC, LTD IBC and say 100 more why does it matter what your company suffix is at all?

 

[ImKing]

It does not matter at all, some just want it to be a Ltd or LLC or AG if germany so it's better recognized.