Offshore Financial Center
(redirected from Off-Shore Financial Center)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.
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