offshore

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Related to Off-Shore Banking: Universal Banking, International banking

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 ?
Remember, both have small populations, Norway is awash with surplus oil and Switzerland has a large off-shore banking facility, as well as trading agreements with the EU.
It may be known for its off-shore banking or the annual TT bike festival.
influence' in the region." "China is pursuing a maritime strategy in the Caribbean to gain access and control over port facilities, free trade zone infrastructure, fisheries, oil and minerals, and off-shore banking platforms," stated the official, pointing to Beijing's control--through commercial surrogates--of the Panama Canal's anchor ports.
After a paper chase across the shady world of off-shore banking, pounds 30million in numbered accounts has turned up.
The country's issuer rating for foreign currency debt and bonds and its foreign currency country ceiling are A3, its issuer rating for domestic bonds and debt is A3, and its off-shore banking sector country ceilings for foreign currency bonds and bank deposits are Aaa.
The Bahamas are noted now as a haven for tourism, such would tempt a new Columbus to leave his home and sail the seas to view the excellent coral reefs and wildlife; as a centre of off-shore banking as to induce a contemporary "Black-beard" to open an account rather than trust to a buried chest in the sand; for the casino-gambling of which James Bond, himself, would approve; and, in spire of its proximity and association with the USA, for its British constitutional ties, including the regular changing of the guard at Government House, as would befit a former King of England.
The ports of registration, emblazoned in gilded lettering on every stern, shout a litany of off-shore banking - Jersey, Bahamas, Cayman Islands.
Access to off-shore banking and London's financial markets, also cited by France as a source for terrorist cash, were particularly important.
Pelis Thottathil addresses the off-shore banking system that has developed around the Eurodollar.