offshore

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offshore

a term used to describe vehicles or institutions based in, or regulated by, the laws of a jurisdiction that either has no tax or low tax for non-locals and that specializes in providing services of a financial or legal nature to persons and businesses ‘onshore’, that is to say, in high-tax jurisdictions. While many such jurisdictions are based on islands, which has brought about the terminology in a literal sense, the littoral location of the investment is irrelevant.
References in periodicals archive ?
A Free Trade Agreement (FTA) with the US was signed in 2011, resulting in a flood of off-shore accounts from all over the world.
Spencer will want a minimum of pounds 150,000 a year with probably something like a pounds 50,000 lump sum paid into an off-shore account as well.
I naturally blamed my agent for carelessly forgetting to put it into the off-shore account in the first place.
He said that the members of parliament should also submit certificate of no off-shore account with Election Commission of Pakistan besides legislation about conflict of interest.
On Wednesday the loyalist told the finance committee a "success fee" linked to the Nama sale was paid into a dormant bank account in Belfast and from there to an off-shore account.
But there were allegations of sleaze when he gave the Tories pounds 1million from an off-shore account.
Fitch was not formally notified of the next steps to be taken by the province; but the public comments by provincial officers increase the possibility of an upcoming restructuring, or interference in the mechanism that provides for the collection hydrocarbon royalty payments in an Argentinean collection account that are then transferred to an off-shore account.
On Wednesday Mr Bryson told the finance committee a "success fee" linked to the Nama sale was paid into a dormant Danske Bank account in Belfast's Donegall Square West branch and from there transferred to an off-shore account.
A Lloyds Bank employee traced the funds to an off-shore account in Guernsey created by Whaley.
An off-shore account is the most likely destination.
The high-profile loyalist blogger and flag protester told the finance committee at Parliament Buildings in Belfast the fee was to be paid into an off-shore account.
Shah was allegedly trying to extort millions from film magnate Harvey Weinstein and even threatened to kill his family on failure to deposit the amount in an off-shore account.