IBCs are commonly used as vehicles for the trading of Forex/Options/Share/Futures.
In practical terms how it can work is:
- For maximum privacy the IBC is usually set up with a Professional “Nominee” Director/Shareholder resident in a nil tax jurisdiction
- The owner/client is appointed as Financial Consultant (eg Forex Trading Manager)
- The IBC director completes the Brokerage account application/s
- As part of his/her brief the client is given the authority to trade certain markets or accounts on behalf of the company reporting to the Director
- A Bank and/or Trading account is opened with the owner (eg as Consultant/Trading Manager) nominated as the signatory
- The IBC starts trading with all trades organized by or authorized by the beneficial company owner client who, like a bank employed trader, retains day-to-day control (subject to the Directors overview) of company funds earmarked for trading.
NOTE: We are not in the business of providing legal advice. If you require further information and/or advice as to the law governing such matters you will need to obtain such advice from a licensed Attorney at Law in the country of proposed incorporation. If you require further information or legal advice please contact us as we can assist you to obtain such advice via our network of international legal contacts.
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