An IBC or International Business Company is a type of offshore company, usually registered in a in an international financial centre (like; Belize, BVI, Hong Kong),  regulated by specific favorable legislation.  Some of the main benefits include tax exemptions, dispensation from having to submit annual accounts and the simplicity of registration.
An IBC can be registered without any physical expenditure of money (nominal capital).  And the names of owners or shareholders do not appear in the public records or in the main documents of incorporation, such as the certificate of incorporation and the memorandum and articles of association.

The International Business Company is a type of corporation targeted to non-residents and is therefore prohibited from engaging in economic activities within the own territory of the tax haven in which it is registered. This means it cannot carry on business with local companies or citizens nor buy real estate in the country. The possibilities of investing in the jurisdiction of incorporation are also restricted.

However, there are exceptions to this rule. For example, an International Business Company is allowed to open and maintain bank accounts or hire certain services necessary for its administration locally, such as legal assistance, virtual offices, consulting or accounting services. Needless to say, the IBC can do all the above activities without any restriction in the rest of the world.