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.
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
"Over half of the participants in our survey say offshoring has resulted in no change in the number of domestic jobs in most functions," said Arie Lewin, Fuqua professor of strategy and international business.
"Over half of the participants in our survey say offshoring has resulted in no change in the number of domestic jobs in most functions," relates Arie Lewin, professor of strategy and international business.
Much has been written about the management of and the decision to adopt IT outsourcing and offshoring (i.e., Lacity & Willcocks, 1996; Wang, 2002).
This column is based primarily on a Deloitte Consulting LLP study entitled Business Process Offshoring in the Mortgage Industry: A Tale of Two Opportunities, which discusses business process offshoring in the mortgage industry.
According to the latest Global Financial Services Offshoring Report by accountants Deloitte, the UK is benefiting by up to pounds 1.5 billion.
"Government should incentivize and incubate job development and stop penalizing US companies through oppressive taxes and regulations, while providing tax breaks that reward offshoring.
Analysts of the offshoring phenomenon have expressed a range of views about the likely impacts of offshoring on four broad areas.
Despite the offshoring threat, 2005 is shaping up to be a banner year for Mark Wilson, chief executive of Ryla Teleservices Inc., a telephone-service outfit based stateside in suburban Atlanta.
Fred Shapss, CPA, partner at Rosen, Seymour, Shapss, Martin (RSSM) & Co., New York, says his firm has found tax offshoring helps relieve busy season overload.
Though no one source can pinpoint the exact number of jobs lost to offshoring, it is estimated that roughly 300,000 to 995,000 jobs have been lost in the U.S.
economy, argues McKinsey Global Institute's April 2004 publication Exploding the Myths About Offshoring. Diana Farrell, director of McKinsey Global Institute, the economics think tank of the consulting firm McKinsey & Co., explains offshoring as part of a bigger process of global industry restructuring--or companies becoming global entities, so their customer base is no longer primarily "national with a little bit of export on the side."
"Offshore outsourcing" (or offshoring) is the fashionable term for the recent uptick in service jobs contracted to firms in India, China, and other developing nations.