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Offshore Financial Center
(redirected from Offshore financial centers)

   Also found in: Wikipedia 0.01 sec.
Offshore Financial Center
1. 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.

2. A country known for having a tax and legal system well-suited for offshore financial centers. A prominent example is the Bahamas.


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2009), is a comprehensive global guide to tax havens, offshore financial centers, and tax-advantaged strategies.
There will be increased skepticism and call for reform of the regulatory frameworks governing offshore financial centers, for example, the CAYMAN ISLANDS, both of which contribute to the general industry climate looking dim indeed.
Offshore financial centers which have thrived under a veil of bank secrecy will have to embrace transparency to survive a global crackdown on tax cheats that is menacing the private banking sector in Switzerland and beyond, reports Reuters (Feb.
 
 
 
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