Offshore

Offshore has two principle meanings:

1. Physical - in the sea away from the shore; not on the shoreline but out to sea.
2. Financial - a relative term generally applied to low tax jurisdictions on "off-shore" islands - hence the association with the physical meaning. Many of these islands encourage the formation of letterbox companies, which are used to conceal the beneficiary owner for various purposes (hiding and laundering narcodollars or the proceeds from other illicit activities, parking funds in rapidly depreciating currencies, hiding assets in divorce proceedings etc.)

Note: Not all offshore centres are in a physical respect offshore as the term would suggest, e.g. Dublin, Delaware (USA) or Switzerland.

Further details can be found here:

• Offshoring - relates to the active movement of companies to offshore centres.
• Offshore Financial Centres - relates to jurisdictions which form low tax or tax exempt companies.
• Offshore banking - relates to the banking industry in offshore centres.
• Offshore construction - relates to contruction out to sea.
• Offshore investment - relates to the wider financial services industry in offshore centres.
• Offshore funds specifically relates to collective investment in offshore centres.
• Tax havens - gives details of many low tax jurisdictions.