There are a great many benefits to be found when considering the incorporation of a company  offshore.

An offshore company or non-resident company, is a company that does not conduct a large portion of its business in the the country it is incorporated in.

If you have looked into offshore banking, you have undoubtedly come up on the term International Business Company , or IBC. An offshore IBC is an offshore company that has been set up under the laws of a particular country as a company that is normally exempt from local taxes and isn't permitted to engage in any business practices in the country in which it has been incorporated with the exception of Panama.