Offshore Financial Center

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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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DMS Offshore Investment Services (DMS) is the world's largest fund governance firm with over 200 professionals serving all major offshore financial centers and currently representing leading investment funds with assets under management exceeding $330 billion.
She argues that international confiscation standards are inherently irreconcilable with the strong banking confidentiality that serves as the main economic pillar of offshore financial centers and that the significant of these offshore centers as financial hotspots undermine the effectiveness of confiscation on a global level.
The report indicates that offshore financial centers have recently been under attack, but have shown 'remarkable' resilience.
Summary: TEHRAN (FNA)- The Russian government will not aid businesses that have lost money in Cyprus, First Deputy Prime Minister Igor Shuvalov said, underscoring Moscow's resolve to clamp down on the flight of capital to offshore financial centers.
A good portion of these revenues accrue in offshore financial centers, where roughly a third of Middle East and African wealth is booked.
The LUBRINCO Group has performed investigation services and consultation services in North & South America, Africa, the Middle East, Central and Eastern Europe, Central and Southern Asia as well as the Caribbean and other Offshore Financial Centers.
Well-established offshore financial centers or tax-haven banking systems, especially jurisdictions where such banks and accounts can be readily established with minimal background investigations.
2009), is a comprehensive global guide to tax havens, offshore financial centers, and tax-advantaged strategies.
A few sources used terms such as offshore financial centers or financial privacy jurisdictions to refer to jurisdictions with similar characteristics.
11, 2001, terror catastrophe, offshore financial centers have come under increasing scrutiny from other governments and groups for their perceived roles as tax havens or even money-laundering centers.
At the same time, offshore financial centers are coming under increasing pressure from US and EU governments to harmonize disclosure regulations and tax legislation.
One of the best known groups was that on offshore financial centers.

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