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.