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 ?
Chris Till, CEO of Standard Bank Isle of Man, said, 'We are delighted to have been recognised for our offshore account services in such a competitive environment and through such a rigorous judging process.
I hope we won't find out you have an offshore account in the Bahamas," Ms Le Pen said.
HM Treasury and HM Revenue & Customs reported on Monday that British chancellor of the exchequer George Osborne has launched a new campaign which targets taxpayers with money hidden in offshore accounts.
During the discussion, Redknapp also denied claims by his former Portsmouth chairman Milan Mandaric that money sent to the manager's offshore accounts were investments outside football.
Moreover they will be able to access their offshore accounts through personal internet banking facility, where all accounts will be viewed under One View' hence allowing customers to seamlessly transfer funds between offshore and onshore accounts.
Tax experts in the West Midlands estimate that approximately 13,000 people registered with HM Revenue and Customs' scheme to disclose undeclared funds in offshore accounts.
The pair claimed housing benefit when they had more than pounds 330,000 in offshore accounts.
Individuals that find themselves needing to make disclosures might include family members who receive an inheritance in an offshore account with no explanation of where the funds came from, and businessmen who have diverted business profits offshore, deliberately to avoid tax.
MIAMI: A judge yesterday postponed the opening of a trial in a lawsuit seeking to force Swiss financial giant UBS to reveal the identities of thousands of US clients with offshore accounts.
Offshore Account ran well for a long way before fading into 15th place of the 17 finishers as Swan's first runner in the Aintree showpiece on Saturday.
Said goon and his band of not-so-merry men take Jack, his wife (Virginia Madsen, hopefully getting paid well) and two children hostage, demanding that Jack hack into his bank's computer system and transfer millions into an offshore account.
may deposit unreported wages, gambling winnings or investment income in an offshore account titled in their own name or in a corporation's name.