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 ?
The huge potential, especially for the off-shore market, is poised to attract increasing investments.
The CBI survey found the main reason to off-shore is to cut costs, followed by improving the speed and quality of services.
GTESS will show how their technology eliminates PHI so that clients can enjoy the low costs associated with off-shore processing, but with the reassurance that PII is processed securely on-shore.
GREEN MOVE: Ireland's first off-shore wind farm may be built off Co Wicklow
A job tribunal ruled that the firm failed to investigate Regan Dow's claims after she was effectively banned from working off-shore and her line manager asked her out on a date.
It is the perfect combination for European businesses looking for off-shore solutions for a variety of business processes and functions," says Penny Streeter.
The inquiry involves possible tax evasion by Brazilian clubs through money being paid into off-shore companies.
Faced with ongoing pressure from off-shore manufacturers, guitar companies have been forced to import their guitars to meet consumer needs for affordability, leaving no electric guitars that are "Built in America" for sale to consumers for under $500 - until now.
The combined Source/Fuel-x entity would also provide Source Petroleum with a portfolio of on-shore and off-shore oil and gas assets with current oil production of approximately 300 bbl/d, near-term development and a large world-class gas asset nearing commercialization.
OTCBB:CPPT), an energy and natural resource exploration technology company, has delivered its second stage STeP analysis of an off-shore African oil and gas drilling prospect.
Solutions([R])' global delivery model is a distinctive blend of resources consisting of on-site, off-site, on-shore, near-shore and off-shore processes that maximize the positive aspects of each component.