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 ?
Between 2000 and 2004, Jersey has maintained its position as the dominant offshore banking hub in the British Isles, however Guernsey has seen good growth and favourable market conditions have significantly boosted the Isle of Man's position
Advantages and disadvantages of four competing offshore regasification technologies: Gravity-Based Systems, Platforms, Floating Storage Regas Units, and Regasification Vessels
Any activities outside of that, you should consider partnering up with a company with an offshore presence or establish your own," says Kennedy.
Brittain-Catlin has certainly chosen a fascinating and important topic, and Offshore contains a lot of remarkable stories of mischief, and, sometimes, even intrepidness.
But while the increase in offshore outsourcing endeavors will continue in the foreseeable future, we caution organizations to be aware of the security issues involved in these dealings.
Ebix's creation of its own offshore operation is an approach somewhat different from most insurers' outsourcing of services and processes with India-based firms.
Currently, the Service is investigating several thousand offshore accounts, and has referred a large number of these to its Criminal Investigation Division.
The Bush Administration's view, as articulated by Treasury Secretary Paul O'Neill, is that American CEOs are moving offshore because American tax rates harm their competitiveness against foreign rivals.
Couple these numbers with the ongoing shortage of IT talent in the US and an expected application development boom post-Y2K, and the burning question today isn't if offshore IT vendors will positively impact the bottom line, but what they can offer an IT organization beyond less expensive code.
Cyprus and Liechtenstein are both offshore secrecy havens.
Until March 1993, the data collected by the Federal Reserve covered only the assets and liabilities directly on the books of the branches and agencies of foreign banks located in the United States; transactions on the books of the offshore branches were not covered.