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 annual value of mergers and acquisitions of overseas companies by Japanese firms logged a record-high 8.
In many cases overseas companies have been paying no corporate tax at all for several years," he said.
The major lines of business for overseas companies were wholesales and retail, import and export, business services such as legal, accounting and advertising, finance and banking, manufacturing and transport and related services.
Proposals to deliver the worlds first register of overseas companies and other legal entities that own property in the UK have been published as part of the governments drive to build a fair economy.
Demallistre said there were now 70 overseas companies with investments of more than US$20 billion.
1 -- (BNA) The Kingdom of Bahrain is scheduled to host next April the International Marine Sports Show with participation of a large number of GCC, Arab and overseas companies.
A good example is car and commercial vehicle building, which has been controlled by overseas companies for many years and, as a result, has been a great success.
And on November 21, Stimutran is looking to arrange meetings with overseas companies at the Automotive Congress being held in Stuttgart.
It remains to be seen whether overseas companies can avail themselves of SQC.
based businesses purchasing raw materials and parts from overseas suppliers, and provides loans to overseas companies that purchase products from U.
PROFITS taken by overseas companies and insurance claims from Hurricane Katrina sent the UK's current account deficit to a record high yesterday.
Whittard, which has 125 outlets in the UK, added that interest from overseas companies in taking over the tea and coffee specialist had waned in the wake of the July attacks.

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