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 ?
Our in-depth analysis of 9 Offshore banks provides the benchmark for Best Practice
It has said it will upgrade all offshore banks to wholesale bank status over time, but plans to grant some 20 wholesale banking licenses over the next two years.
Offshore banks catering to crooks can live with Summers's mild reform proposals.
The central bank of Taiwan has said that offshore banks will begin to take yuan deposits.
The Practical Offshore Guide 2010 includes special sections for US and European Union citizens, explains information exchange in detail, and proffers practical advice on choosing, opening and operating an offshore bank account.
Offshore banks have representative offices in the UAE, such as HSBC, Lloyds TSB, Barclays and Standard Bank.
Thus, offshore banks operating in the autonomous islands of the Union of the Comoros without prior authorization from the Finance Minister contravene the May 3, 1980 legislation.
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.
The move is expected to bring back about USD2bn per day from offshore banks.
Using offshore banks for privacy and tax avoidance will not work.