offshore

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Related to Off-Shore Banks: Swiss banks

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 ?
Larger denomination institutional deposits and short-term interbank deposits from foreign banks are likely to be less stable than retail deposits, so smaller domestic and off-shore banks reliant on these sources are likely to be more exposed to liquidity pressures and higher funding costs.
Larger denomination institutional deposits and short-term interbank deposits from foreign banks will be less stable than retail deposits, so smaller domestic and off-shore banks reliant on these sources are likely to be more exposed to liquidity pressures and higher funding costs, according to the report.
Its off-shore banks attract many businesses and individuals because of the favourable rates of tax.
Ben Mohammed is linked with fundraising for Al Qaeda through off-shore banks in the former Yugoslavia and in the Isle of Man.