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 ?
Having invested in the development of a portfolio of technologies that have the potential to transform the economics of off-shore wind energy projects and proven these both in the lab and in test installations in operating wind farms, it is exciting that we are now bringing these to the benefit of commercial projects, commented Professor Jonathan Wheals, chief engineer, Ricardo Innovations.
The off-shore casinos provide many perks for the big-time, out-station patrons.
In that, according to the Department of Commerce of Sri Lanka (DoCSL), the Government of Belarus has removed Sri Lanka from the list of its off-shore countries with effect from 26 November 2014.
"Teesside has always been the vanguard of technological change, and this is why I was so pleased that it was chosen as a location for EDF's first UK off-shore windfarm."
He pointed out that money from other off-shore countries may also be expected.
A sum of a[sup.1]1 crore and a[sup.1]1.2 crore were paid by off-shore and on-shore casinos respectively as liquor licence fee, according to the figures.
"Those two fields are Saudi Arabian off-shore fields, as set forth in the agreement concluded between the Kingdom of Saudi Arabia and the Islamic Republic of Iran in 1968, in which the line demarcating the border between the two countries' off-shore fields is delineated," Al-Mouallimi stressed in his letter.
NORDIC BUSINESS REPORT-September 26, 2012-Alfa Laval awarded SEK50m off-shore marine order in Vietnam(C)2012 M2 COMMUNICATIONS http://www.m2.com
Kazakhstan is among the top 20 countries for super-wealthy tax dodgers, with an estimated $138 billion in individual assets, or more than four times the country's estimated state revenue in 2012, deposited in off-shore accounts.
In November 2011 the Obama administration began lifting the moratorium on off-shore drilling that had been imposed in the wake of the Deepwater Horizon disaster.
Russia will consider shifting the tax burden for high cost off-shore oil drilling from taxes on revenues to taxes on profits to encourage development of the Arctic, deputy Finance Minister Sergei Shatalov said.
Norwell, MA, August 24, 2011 --(PR.com)-- To-Increase, a provider of Microsoft Dynamics solutions for Industrial Equipment Manufacturers (IEM), comments on a recent article describing Industrial Equipment Manufacturing processes as too complicated to off-shore in the new blog post, "Can ERP Integration & IEM Technology Keep Manufacturing In the US?"