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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005

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.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The taxman confirmed that last October Collins had used a false name and a foreign address to hide EUR30,000 for 18 years in an off-shore account.
SC bench observed the FBR had been unable to discover individuals who had stashed their money in off-shore accounts in global tax havens as pointed out in the Panama Papers.
How many Americans living and doing businesses in the US have off-shore accounts elsewhere naming their American banks as affiliate banks only.
Around $13 million of the Queen's personal estate was invested in off-shore accounts in the Cayman Islands and Bermuda.
Summary: Islamabad [Pakistan], Nov 6 (ANI): A new expose has again created a political furor in Pakistan after former Prime Minister Shaukat Aziz's name figured in the huge leak of documents, which disclosed how a number of politicians, among others, allegedly invested vast sums of money in off-shore accounts.
The 51-year-old Mendes represents Cristiano Ronaldo, Jose Mourinho, Radamel Falcao and a host of other top earning stars, many of whom are being investigated in Spain over allegations they hid earnings from image rights in off-shore accounts. A spokesman for Mendes's firm Gestifute said, adding the company had already been subject to a series of similar inspections that had passed off without incident.
Investments that used to be considered safe havens, such as off-shore accounts or even luxury properties, are no longer considered a sure thing by many advisors and clients.
Their arrival comes a day after Prime Minister Nawaz Sharif reached in London for what his office said is \'medical treatment\', at a time when he is under fire from opposition parties for his family\'s off-shore accounts exposed by the Panama Papers.
He said this decision has been taken after creditable proof has come forth of the involvement of the Sharif family in opening and handling off-shore accounts and managing businesses abroad without paying any taxes and not showing where the income came from for opening and running these businesses.
THE Panama Papers, those millions of documents leaked to the world's Press, reveal how many of the world's well off, from David Cameron's late father to political leaders, have had off-shore accounts into which they pumped cash to legally avoid paying tax.
The candidates need to showcase their plans on repatriating the nearly $1 trillion businesses have in off-shore accounts to avoid tax instead of pulling the rug from under charities and their abilities to deliver services.
It's mostly used to target big-time fraudsters who are hiding businesses or off-shore accounts, plus it relies on public data (but can demand that companies hand over data if a tax case depends on it).