offshore

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Offshore

Describing an institution, especially a bank, that exists in a foreign country. Colloquially, the term refers to institutions that exist in known tax havens. Individuals and companies use offshore accounts to avoid or evade taxes in their home countries. As a result, some emerging financial centers have objected to being called "offshore," asking for parity with the developed financial world.

offshore

Of or relating to a financial organization whose headquarters lies outside the United States. Although offshore institutions must abide by U.S. regulations for operations carried on within the U.S., other activities generally escape domestic regulation.
References in periodicals archive ?
We would also recover the looted money which was illegally transferred out of Pakistan and has been kept in off-shore accounts," he said.
The prosecutor general discovered that East Line had been using hundreds of off-shore accounts based in places like the Isle of Man to bypass Russian taxes and government scrutiny, which infuriated Medvedev, who said that East Line was hiding "the real owners and those making the management decisions at the airport.
The off-shore accounts of 'super' agents like Pini Zahavi, who pocketed pounds 3m from Yakubu's transfer to Middlesbrough, will swell so much those tax-havens will sink.
The former Minister for Justice was there as daughter, embattled Mayo TD Beverly, was inside FF rooms in Leinster House trying to convince her party not to remove her from their ranks after RTE exposed her for encouraging others to break the law by investing their money in off-shore accounts.
They're computer savvy, they have board meetings to discuss their off-shore accounts and upwardly-mobile vampire Deacon Frost (Stephen Dorff) runs bloodbath raves as he prepares for the vampire apocalypse, which I have to admit is pretty cool.
The submarine experience is unquestionably the ultimate adventure on an island that seems to live by its off-shore activities - and I'm not just talking about the off-shore accounts here.
Lahore -- It does not seem any outcome of any enquiry into the Panama Leaks as people and facilitators, who have benefited from these off-shore accounts, are in every department of the country.
The report revealed that some ten trillion dollars that has been stashed in off-shore accounts is owned by only 92,000 people, or 0.
government is stepping up prosecutions of wealthy individuals dodging taxes through off-shore accounts, with new cases expected to be made public "every couple of weeks," a top government attorney said on Saturday.
I WONDER why that renowned expert on off-shore accounts and hedge funds - David Mills - did not register the alleged gift he received from Berlusconi as a legitimate loan.
It was confirmed that CAB recently seized more than pounds 100,000 from him and officers believe he had what they described as "substantial" off-shore accounts and assets abroad.
Cops are sure that the bulk of his ill-gotten wealth is lying in secret off-shore accounts and have been given an extra month to trace it.