offshore

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offshore

based or operating abroad in places where the tax system is more advantageous than that of the home country

offshore

[′ȯf¦shȯr]
(geology)
The comparatively flat zone of variable width extending from the outer margin of the shoreface to the edge of the continental shelf.
References in periodicals archive ?
The MAS earlier renamed ''restricted banks'' as ''wholesale banks'' to simplify its licensing system to a two-tier regime of full banks and wholesale banks from its three-tier regime of full, restricted and offshore banks.
But the legitimate reasons for offshore banks provide a useful cover.
The proprietary Offshore Banks Survey of more than 40 players, covers the needs and decision triggers of offshore clients.
The central bank of Taiwan has said that offshore banks will begin to take yuan deposits.
Most offshore banks will offer accounts in the major currencies and the currencies most used by expatriates," Ashley notes.
A similar agency existed before the fraud scheme, but only monitored offshore banks.
The Offshore Banking Act, 1996, governs activities of Belize's offshore banks.
It also provides services to foreign banking institutions that do not have a presence in the United States, offshore banks and offshore trust companies.
In the case of Russia's ruble collapse, offshore banks may very well be the end point for a lot of high-level Russian graft and embezzlement.
Using offshore banks for privacy and tax avoidance will not work.
FIBG was reportedly the first offshore bank to be licensed and begin operations here and Creft was the chief regulator for offshore banks.