offshore


Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, 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 ?
Second, if cost savings are what motivate the offshore contracts, organizations are less likely to spend the time and effort to conduct a thorough validation and testing of the code when a finished product is developed.
RGA Technology Partners has outsourced some application development of noncore components and client-system integration of its software product, Automated Underwriting and Risk Analysis, to an offshore Indian firm.
2003-11, to participate in the Offshore Voluntary Compliance Initiative, a taxpayer must send a written request by April 15, 2003, if by U.
Ferranti lists four elements as necessary for a successful offshore engagement:
Offshore is home to nearly a third of all hedge funds, such as Longterm Capital Management, which was licensed in the Caymans, where U.
residents from offshore offices were available, but data were not collected regularly.
World offshore drilling spend has increased in recent years, particularly during the period of 2004 to 2008.
To date, few offshore BPO firms in any country promote customer satisfaction in their presentations.
The east coast of England is a key area for offshore wind projects with approximately 6.
Teekay Offshore Partners' common units trade on the New York Stock Exchange under the symbol "TOO".
World's leading avionics software engineering service providers join forces to offer industry-leading experience with offshore rates