Terminologia Offshore Comercial

Inbound. Coming into the U.S.; onshore; such as funds being paid to a U.S. person from an offshore entity.

Incomplete gift. Where the settlor has reserved the right to add or delete beneficiaries to the trust, it is construed as an incomplete gift.

Independent trustee. A trustee who is independent of the settlor. Independence is generally defined as not being related to the settlor by blood, through marriage, by adoption or in an employer/employee relationship.

INTERFIPOL. International Fiscal Police. The tax crime counterpart to INTERPOL.

International business company (IBC). A corporation formed (incorporated) under a "Company Act" of a tax haven, but not authorized to do business within that country of incorporation; intended to be used for global operations. Owned by member(s)/shareholder(s). Has the usual corporate attributes.

International financial and banking centre (IFC). A country identified as being a tax haven.

International trust. A Cook Islands term for a special type of an Asset Protection Trust (APT). Governed by the laws of the Cook Islands.

INTERPOL. International Criminal Police Organization. The net-work of multinational law enforcement authorities established to exchange information regarding money laundering and other criminal activities. More than 125 member nations.