offshore

(redirected from Offshoring)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia, Wikipedia.

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 ?
While offshoring is beginning to ravage information technology firms and other white-collar outposts, one niche that has long been a stable source of income for BE 100s firms is still safe: government contracting.
But often ignored is a growing countertrend: a rising backlash against offshoring is influencing companies to steer a large number of jobs back to domestic shores.
At the same time, he finds it "amusing" how many state legislators are realizing that if they pass such legislation, it'll cost them significant amounts of money, since many are offshoring state services.
He represents a group that has arguably taken the hardest hit in recent job losses, yet Harris Miller takes issue with the general media's "gloom-and-doom" scenario of offshoring.
Concerns about offshoring are shifting from external factors, such as political backlash, to internal factors, such as loss of managerial control and the impact on operating efficiency.
The obstacle to offshoring is more often inside a company than outside it.
Puranam is studying project management capabilities in offshoring services.
Suresh Gupta, Head of Sourcing at Capco, added: "Despite the myths and media headlines surrounding offshoring, the leading financial services organizations are already far along the path of implementing sophisticated Global Sourcing Models.
The report "Offshoring Legal services to India" provides an overview of legal services offshoring and an indepth analysis of the Indian vendor scenario along with profiles of major industry players.
It examines the key drivers and inhibitors impacting the growth of outsourcing and offshoring in the insurance vertical.
Outsourcing/ Offshoring Drivers & Inhibitors 3.