Physical - in the sea away from the shore; not on the shoreline but
out to sea.
Offshore Industry - Industry related to equipment for offshore oil and
gas
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 financial centres are in a geographical respect
offshore as the term would suggest, e.g. Dublin, Delaware (USA),
Panama 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 transact
financial business with non-residents.
Offshore banking - relates to the banking industry in offshore centres.
Offshore construction - relates to construction 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.
Offshore trusts - deals with trust arranged in offshore jurisdictions.
Tax havens - gives details of many low tax jurisdictions.
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