An international business corporation is an entity formed under the laws of a tax haven. This is an offshore company not permitted to do business within the country in which it is incorporated. These kinds of companies enjoy banking and corporate secrecy, little or no taxation, and minimal filing and requirements.
Countries that allow the formation of international business corporations include Antigua, the British Virgin Islands, the Bahamas, Gibraltar, Seychelles, Panama, Turks & Caicos, etc.