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 ?
United Overseas Bank and BCC Corporate NV join several other financial institutions in India, Italy, China, Australia, Japan, France, United Kingdom, Scandinavia and Chile as partners in BMO's global commercial card network.
Northern Rock maybe small in global terms, but in terms of the UK mortgage market it has a big share and it could be a great way for an overseas bank to have a UK presence.
Because it is almost essential for the day-to-day management of the property, anyone who makes this type of investment will also probably have an overseas bank account.
The RBI further said a KYC certification on the end client should also be taken by the bank in India as a one- time document from the overseas bank.
United Overseas Bank Ltd Singapore, which owns controlling shares in PT Bank UOB Buana Tbk and PT Bank UOB Indonesia, plans merger for the two Indonesian-based banks before the end of 2010 as required by Bank Indonesia's regulation, which does not allow an investors to have controlling stake in two or more banks.
LONDON, October 9 /PRNewswire-FirstCall/ -- Indian Overseas Bank in Singapore has selected integrated core banking solution, Misys Midas Plus, to introduce new products and client services to support business expansion, deliver new levels of customer satisfaction and improve operational performance while enabling market leading international standards in accounting and regulatory compliance & controls.
LONDON, October 9 /PRNewswire/ -- Indian Overseas Bank in Singapore has selected integrated core banking solution, Misys Midas Plus, to introduce new products and client services to support business expansion, deliver new levels of customer satisfaction and improve operational performance while enabling market leading international standards in accounting and regulatory compliance & controls.
She retired in 1984 from California Overseas Bank as the assistant vice president of loans.
Some regional banks will assist in export letters of credit but only to maintain a relationship with an overseas bank in order to be in the more lucrative import letter-of-credit and import financing business.
Global Banking News-July 21, 2015--United Overseas Bank and Temasek to offer debt financing
Governmentowned Indian Overseas Bank announced a sharp decline of 86.
He said Medco has set aside US$ 350 million to acquire Novus and for which it will use a loan from United Overseas Bank of Singapore.

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