Question Details

	Username: Fluffy Rating: Asked to: Dara Madee Date Created: 03 May 2018
Category	28
Tag	Financial
Question	What is 'Offshore'?

Advice from Guru

Hi Fluffy,

Offshore identifies any item that is located or based outside of one's national boundaries. The term "offshore" is used to describe foreign banks, corporations, investments and deposits. A company may legitimately move offshore for the purpose of tax avoidance or to enjoy relaxed regulations. Offshore financial institutions can also be used for illicit purposes such as money laundering and tax evasion.

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