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The function of a corporation charter is to establish the basic elements for an incorporated business enterprise. For example, a corporation charter sets forth the activities the corporation intends to engage in once established.
An international business company or international business corporation (IBC) is an offshore company formed under the laws of some jurisdictions as a tax neutral company which is usually limited in terms of the activities it may conduct in, but not necessarily from, the jurisdiction in which it is incorporated.owever, under pressure from the Organisation for Economic Co-operation and Development (OECD) and the Financial Action Task Force on Money Laundering (FATF), most offshore jurisdictions have removed or are removing the ring fencing of IBCs from local taxation.