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.

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 ?

Companies are now shifting from cost-driven offshoring to a multidimensional value proposition in creating a global footprint."

As companies expand offshoring activities by increasing scale or by offshoring more diverse and complex functions, most firms see a decline in the overall efficiency.

Offshoring driven by skills shortage not cost cutting

residential mortgage market represents an incredible opportunity for the effective utilization of business process offshoring. The Outlook for the Real Estate Finance Industry report, prepared by the Council to Shape Change--an independent group of mortgage industry leaders, of which this author was a member--concluded that the mortgage market's correction would result in real estate financial processes being broken down into smaller components that can be isolated, optimized, automated and outsourced.

Is it time to consider business process offshoring?

Matt Perkins, financial services partner at Deloitte in Birmingham, said: "Offshoring is maturing at a rapid pace but, in future, the best offshoring strategies will not, and cannot, be based on labour arbitrage alone.

Companies save cash by transferring jobs abroad; FINANCIAL SERVICES

Economic factors and the growth of technology have contributed to the offshoring explosion in the U.S.

Squeeze play: is America's offshoring movement hurting black businesses? Many are applying innovative strategies to buck the trend

But some say partners who manage and monitor the outsource process may find the value of their time makes offshoring more expensive than doing the job in-house.

Outsourcing, offshoring, nearshoring: what to do? Whether you outsource locally or globally, you're still responsible for client privacy

For many workers, offshoring seems like a new face to an old enemy.

High-speed outsourcing: jobs, workers and rights in the age of capital flight

So, today's offshoring represents maintaining and continuously improving upon that effectiveness and efficiency for profitability." Organizations, he says, are going to a global delivery model.

Offshoring: and the winner is ... contrary to the recent spate of negative media coverage and political attacks against offshoring, a growing body of credible sources are speaking out about the upside for the U.S.--for both jobs and the economy

Entitled The Cusp of a Revolution: How offshoring will transform the financial services industry, the Deloitte report tells CEOs that they had better get their companies aboard the offshore express before they miss out completely on this "transformational" opportunity and are left in the dust.

Trading away jobs and Liberty: though billed as a boon to the U.S., the General Agreement on Trade in Services will, in reality, wreak havoc on our economy, sovereignty, and way of life. (Cover Story: Business)

"Offshoring is creating significant operating cost advantages that leading lenders will use to competitively differentiate themselves in price, service and profitability," the study noted.

U.S. mortgage lenders lead financial services industry in offshoring

The basic cause of the problem isn't offshoring, it isn't productivity, but it's the transition that is powering both...

Assessing the future of work: Dick Samson, a researcher and thinker about the changing demographics of the workplace, talks about automation's long-term threat to employment and what steps could be taken now to address it