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 ?
The Fed proposal requires the largest overseas banks to set up an intermediate holding company in the United States that will be subject to the same capital, leverage and other requirements as U.
It could be good news for the company if it was an overseas bank that looked to come in as the structure of the company for the most part could then be retained.
Overseas banks consequently have better capital, higher ratings, and a more significant market presence.
Construction and permanent financing for the project is being provided by a combination of domestic an overseas banks and financial institutions.
This was, in the main, due to the unreasonable delays that occurred with the underwriters of an investor group with connections to overseas banks.
New overseas banks establishing in the country will also have to be locally incorporated.
British banking regulators are swooping on the London offices of ailing Cyprus banks in an attempt to protect their financial systems from the negative impacts of overseas banks.
NCS currently has approximately 10,000 subscribers, and has developed several projects including establishing a network, which enables Banks in Ghana to communicate financial transactions to their corresponding overseas banks in real time.
The central bank of India has made an announcement to make revelation on the new set of laws intended for allowing overseas banks to spread out their visibility in the country.
Acquisitions in China financed by overseas banks have increased by 20 percent to USD100.

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