offshore

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Related to Off-Shore Banks: Swiss banks

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 ?
The report rated three domestic banks and four off-shore banks in Bahrain.
The ruling class in Pakistan make their fortunes by secretly siphoning off money to off-shore banks accounts and purchasing properties abroad.
The purpose of an IFC is to attract off-shore banks to locate in Alaska.
Certus Corporate Service provides introductions to off-shore banks they represent and are the official agent of most.
New Delhi, Dec 8 (ANI): Bharatiya Janata Party (BJP) lawmakers will submit a declaration on Friday in both houses of the Parliament stating that they do not possess any illegal property or bank accounts in off-shore banks, said senior party leader S.