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 ?
Major Points covered in Table of Content s for Offshore Vessels and Cables Market - Market Size, Competitive Landscape and Key Country Analysis to 2020 research report include :
Meanwhile, we are left to wonder what on earth to do about offshore banking havens, assuming we're planning on hanging on to capitalism for the time being.
As more software code gets written by offshore development companies, the lack of supervision of how exactly the code is written could be a concern.
Nearly all offshore providers have little understanding of how to sell and build relationships with CFOs in North America and Europe.
Several of the top offshore firms now employ 24/7 development environments, allowing stateside programmers to create specifications during the day that their offshore partners code while they sleep.
Raul Salinas, the brother of Mexico's former president, used offshore shell companies to hide the movement of more than $100 million in drug payoffs through a private investment company named Trocca, according to the October 30,1998, General Accounting Office report "Private Banking: Raul Salinas, Citibank, and Alleged Money Laundering.
residents from offices outside the United States, including offices licensed in offshore banking centers.
The Greater Gabbard offshore wind farm project will make a significant contribution to reducing CO2 emission by almost 1.
The UK government has set a target for 15 percent of the country's total primary energy to be generated from renewable sources by 2020 and as offshore wind power currently contributes around 3 percent of the country's total energy generation, GlobalData expects to see more investment into the in the coming years.
Among the services considered by the report, offshore contract drilling holds the biggest share with 78% of the total revenue in 2012.
The report analyzes offshore installed capacity, power generation, average wind turbine sizes, average installation prices and annual investment by turbine and foundations, both globally and for seven key countries.