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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
authorities said that in schemes involving millions of dollars in off-shore accounts Mathewson used fake invoices to allow U.S.
He said this decision has been taken after creditable proof has come forth of the involvement of the Sharif family in opening and handling off-shore accounts and managing businesses abroad without paying any taxes and not showing where the income came from for opening and running these businesses.
We would also recover the looted money which was illegally transferred out of Pakistan and has been kept in off-shore accounts," he said.
The prosecutor general discovered that East Line had been using hundreds of off-shore accounts based in places like the Isle of Man to bypass Russian taxes and government scrutiny, which infuriated Medvedev, who said that East Line was hiding "the real owners and those making the management decisions at the airport."
I WONDER why that renowned expert on off-shore accounts and hedge funds - David Mills - did not register the alleged gift he received from Berlusconi as a legitimate loan.
It was reported yesterday that Sir Christopher's solicitors have filed a complaint with the Metropolitan Police alleging that the former employee stole documents concerning the serial entrepreneur's private finances, trust funds and off-shore accounts.
The former Minister for Justice was there as daughter, embattled Mayo TD Beverly, was inside FF rooms in Leinster House trying to convince her party not to remove her from their ranks after RTE exposed her for encouraging others to break the law by investing their money in off-shore accounts.
They're computer savvy, they have board meetings to discuss their off-shore accounts and upwardly-mobile vampire Deacon Frost (Stephen Dorff) runs bloodbath raves as he prepares for the vampire apocalypse, which I have to admit is pretty cool.
The submarine experience is unquestionably the ultimate adventure on an island that seems to live by its off-shore activities - and I'm not just talking about the off-shore accounts here.
Lahore -- It does not seem any outcome of any enquiry into the Panama Leaks as people and facilitators, who have benefited from these off-shore accounts, are in every department of the country.
The report revealed that some ten trillion dollars that has been stashed in off-shore accounts is owned by only 92,000 people, or 0.001 percent of the world's population.
government is stepping up prosecutions of wealthy individuals dodging taxes through off-shore accounts, with new cases expected to be made public "every couple of weeks," a top government attorney said on Saturday.