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 ?
Although the money was placed in the off-shore accounts, clients could get access to the cash without ever paying tax on it.
We would also recover the looted money which was illegally transferred out of Pakistan and has been kept in off-shore accounts," he said.
Google has parked its billions in off-shore accounts and, along with other corporate giants, is lobbying hard for a tax holiday to bring the money back into the United States at deeply discounted rates," wrote Simpson.
Macedonian banks do not reveal how much money pours from Macedonia to off-shore accounts in countries that are described as tax havens.
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.
So while hard-up families and pensioners scrape together enough cash to keep the taxman off their backs, the country's richest fat-cats continue to rape our tax system with their off-shore accounts.
At the time, Sir Christopher's solicitors filed an official complaint with the Metropolitan Police alleging that the former employee stole private documents concerning the serial entrepreneur's finances, trust funds and off-shore accounts.
MILLIONS of euro stashed in illegal off-shore accounts have been uncovered by Revenue agents, figures reveal.
Tighter controls have been imposed on Ireland's financial sector following a string of scandals from the mid-1990s onwards, including revelations top banks colluded in widespread tax evasion via the use of bogus off-shore accounts.
off-shore accounts when investment opportunities arose.
Police don't know where the rest of the money is but suspect Restorick may have stashed it in off-shore accounts.
authorities said that in schemes involving millions of dollars in off-shore accounts Mathewson used fake invoices to allow U.