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 ?
He does all this while giving the rich tax refunds and allowing them to hide their wealth in off-shore bank accounts.
citizens to evade taxes by way of off-shore bank accounts.
The reality is that Cameron is part of the institutionalised public school establishment that has its future paid for by daddy and subsidised by off-shore bank accounts.
Telecoms tycoon Denis O'Brien insisted he did not pass money through off-shore bank accounts to Michael Lowry, Ireland's former communications minister who was found to have interfered with the granting of the licence 16 years ago.
Despite being cleared of any wrong doing it begs the question: how many more of our law-makers are non-doms - not paying British taxes - and how many of our MPs are having their salaries redirected into companies and off-shore bank accounts?
There were no off-shore bank accounts or anything like that.
An exotic element in the sales pitch, such as the involvement of an off-shore bank, top-secret technology, or inside information from Wall Street titans
A number of different types of frauds are currently being targeted by evolving legislation, including so-called 'carousel fraud' and off-shore bank accounts.
He used a series of fiendishly complicated charts, with arrows pointing in all directions, showing how investors' money could be deposited in an off-shore bank account before being transferred to a limited liability partnership, then repatriated into a special purpose vehicle and a 100% tax break accessed before selling the rights at a profit, thereby creating a positive cash flow for the investor and a multitude of middle men.
In return, Wolf gets a sizeable deposit in an off-shore bank account .
A major breakthrough was made in December, when Senior Superintendents Maurice Piggott and Wellington Virgil visited England, where they secured vital documents from a major off-shore bank which played a key role in the investigations.
So it's our job to find the off-shore bank account, the condo in Vail in the girlfriend's name, the Mercedes, the children's trust and all the straw corporations, and extract that from the bad guys and give it back to the good guys.