Financial

Offshore Financial Center

Also found in: Wikipedia.
(redirected from Offshore financial centre)

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Mentioned in
References in periodicals archive
It is being built across 523 hectares and aims to be the first world class offshore financial centre in North Africa.
US universities plan investment in Tunis
Launched in 2008, the GFH project is being built across 523 hectares and aims to be the first world class offshore financial centre in North Africa.
US universities seal GFH Tunis project deal
The Sultanate enjoys growing trade relations with Malta, which is a strategically located offshore financial centre with world-class facilities in ports, logistics and education.
Bank Muscat leads successful business delegation to Malta
Switzerland has more that USD2tn in assets in management, making it the world's largest offshore financial centre. Lately, however it has been under tremendous pressure from the European Union and the United States to end banking secrecy and reveal information of accountholders who are evading taxes by banking in the country.
-Banking secrecy to end by 2016, Swiss bankers believe
Chancellor Angela Merkel stuck to the hard line Berlin has been pushing for weeks, telling lawmakers that while she wanted to keep Cyprus in the euro zone, the country must first recognise it had no future as an offshore financial centre for wealthy Russians and Britons.
Russia rebuffs Cyprus
The Economist speculated that this was a political decision by the Cyprus government to "spread the pain," rather than risk its position as an offshore financial centre for Russian money.
'The writing was on the wall'
Construction work on Tunisia's first offshore financial centre has been tendered and is expected to start in January 2013, according to
Bahrain's Gulf Finance House confirm Tunis Financial Harbour build to start in January
Switzerland, the world's largest offshore financial centre, which holds more than $2 trillion worth of global wealth, has always been considered perfect for wealthy clients who value discretion.
Wealthy giving Switzerland a miss to head for Dubai
Police were called to a disturbance at a flat in St Helier, the capital of the offshore financial centre, at about 3 pm.
Six stabbed to death in UK, accused arrested
Bahrain Gulf Finance House (GFH), the Bahrain-based Islamic investment bank, and the Tunisian government yesterday launched North Africa's first offshore financial centre as part of Tunis Financial Harbour, a $3 billion (Dh11.01 billion) mixed use waterfront development which will provide the physical infrastructure for the planned offshore financial centre.
North African offshore centre launched
Work is continuing on the $3 billion Tunis Financial Harbour, North Africa's first offshore financial centre, which is being developed by Bahrain's Gulf Finance House.
Investors favour Tunisia: with one of the world's best-performing stock markets, Tunisia is set to launch North Africa's first offshore financial centre--and that is just the beginning
Copyright © 2003-2025 Farlex, Inc Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.