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 ?
The off-shore banks are Arab Banking Corp (ABC, Baa3 review for downgrade; D+/Ba1 review for downgrade), Gulf International Bank (GIB, A3 review for downgrade; D+/Ba1 review for downgrade), Investcorp Bank (Ba2 negative; D/Ba2 negative), and United Gulf Bank (UGB, Ba1 negative; D-/Ba3 negative), according to the report.
The ruling class in Pakistan make their fortunes by secretly siphoning off money to off-shore banks accounts and purchasing properties abroad.
The purpose of an IFC is to attract off-shore banks to locate in Alaska.