Offshore Bank Accounts

Why is it so that IBC does not have a bank account at registration?

This is because no paid-up capital is required to register an IBC. Therefore the IBC does not need to open and fund a bank account before registration. This is completely different than in many countries of continental Europe, where new companies are required to demonstrate that they have big paid-up capitals (in their temporary accounts), before they even get registered. Not so for an IBC. Bank account opening is optional, and it can be done at any time after registration.