offshore

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Related to Off-Shore Banking: Universal Banking, International banking

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 ?
Robinson said the huge profits to be made in off-shore banking are enough to convince bankers to look the other way when potentially illegally-obtained cash is deposited in their banks.
The move to formalise the market represents a shift in government policy, which had until recently been favouring the development of off-shore banking.
Occupied by the Germans during World War II, it now thrives on off-shore banking.
Much of the cash ends up in the British dependencies in the Caribbean where off-shore banking has become second only to tourism as an international earner.
This new research attempts to incorporate not only traditional statistics, such as bank loans, but also the estimated "credit equivalent" amounts of the many new off-balance-sheet activities, estimates of certain off-shore banking operations, and other adjustments to the data that attempt to account for the effects of technological change and globalization.
While the comparatively high level of financial dollarization and heavy state participation in the banking system persist as credit challenges, Costa Rica's improved financial supervision and the elimination of the off-shore banking system have reduced banking sector's vulnerabilities.
The bank has the strength and the diversity of resources to offer its customers a range of financial solutions; such as Corporate Banking, Personal Banking, Islamic Banking, Investment Banking, Off-shore Banking, Development Banking, International and Treasury operations and Trade Financing services, through its widely spread network of 618 branches covering all parts of the country.
It will operate as a financial free zone, offering full off-shore banking and wealth management services.
Investment houses in Bahrain's off-shore banking sector have been trying to recapitalise themselves.
An off-shore banking veteran with 15 years experience and a long time CEO of Jyske Bank's Switzerland operations, Mose brings the needed experience and expertise to take the bank to the next stage in its continued growth.
The Latest on UBS and Off-Shore Banking," will occur on Friday, Oct.
Investments will be made throughout the Off-Shore Banking Unit (OBU).