This paper discusses the emergence of international advisory councils (IACs) at universities around the world and introduces the concept of internationalization of governance. Global trends in the field of higher education, such as the quest to create world-class universities and advance in global rankings, the rise of new public management, and internationalization have primed universities to create adjacent governing structures in the form of IACs. Primarily composed by international members, external to the university, IACs are positioned to offer advice on the strategic direction of the institution and its main challenges. In order to better understand this new phenomenon, we interviewed 20 members of different IACs and 6 representatives of universities hosting such structures. This paper presents the thematic analysis conducted on these interviews, answering questions about the composition, structures, modes of operation and effectiveness of IACs, as well as the motivations of members joining IACs and the driving rationales of host institutions. In addition, this paper advances a typology of IACs where three types of IACs are identified: transformative, prestige-oriented and symbolic.