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 ?
Key segments of the global Offshore Lubricants Market are also profiled in detail to understand the granular detail of the global Offshore Lubricants Market.
The Haliade-X 12 MW is a multi-million-dollar investment that will contribute to reducing the cost of offshore wind energy by making it more competitive.
"As part of our modern Industrial Strategy we're putting the finishing touches to our Offshore Wind Sector Deal to create the right business conditions to export this type of expertise around the world to ensure this sector goes from strength to strength."
Mr Ho Chi Bao, Director for Precision Engineering, Marine and Offshore and Engineering Services, Enterprise Singapore, said, 'As renewables form an increasing part of the energy mix in Asia, Singapore companies such as POSH can leverage their expertise in operating offshore vessels and project logistics to contribute to wind energy developments.
Meanwhile, the standard on-grid tariff has been fixed since June 2014 at CNY0.85/kwh for offshore wind power and CNY0.75/kwh for farms in intertidal zones.
Subject to the CySEC granting its application, transocean will send a notification to all former Songa Offshore shareholders whose addresses are known and whose shares will be acquired by way of the compulsory acquisition.
Of the other Avenfield House properties, flat 20 and 21 are owned by the Hung Yip Development Limited, an offshore company incorporated in the British Virgin Islands while flat 9 and 10 are owned by the Mellen Management Limited, incorporated in Panama.
How does starting an offshore business really work?
In recent years, however, many governments have become increasingly aware of the tax revenue lost to offshore investing, and has created more defined and restrictive laws that close tax loopholes.
With the Sultanate's offshore industry rapidly growing, Offshore Development Oman 2014 will play an important role in the expanding market and provides a conference dedicated to the advancement of the offshore industry, whilst addressing technological challenges associated with safely, and cost effectively developing oil and gas resources.
Muscat: Oman should focus more on the development of its offshore industry and at the same time pay more attention to diversifying the economy, said a senior Omani official.
Jupiter, FL, February 05, 2014 --(PR.com)-- Offshore Staffing, a leading staffing agency, are pleased to announce the launch of their new website and the expansion of their unique and flexible services.