offshore

offshore
A term used to indicate a legal regime outside of the United Kingdom. When an investment centre is offshore it is not subject to UK tax or regulation, including investment protection rules. For example, investments located in offshore centres cannot be the base for a claim on the Investors Compensation Scheme in the United Kingdom. Examples of commonly used offshore centres include the Isle of Man, the Channel Islands and Gibraltar. Dresdner Kleinwort Wasserstein financial glossary

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▪ I. offshore off‧shore 1 [ˌɒfˈʆɔː◂ ǁ ˌɒːfˈʆɔːr◂] adjective
1. involving an activity performed outside a particular country, rather than inside it:

• Taiwanese regulators have been unhappy with offshore trading in its stock futures.

2. offshore bank/​company/​investment etc TAX a bank etc that is based in a country where taxes are lower, laws are less strict etc:

• He had transferred the money from Switzerland to accounts in offshore banks.

• firms based in loosely-regulated offshore financial centres

3. connected with oil and gas production that is done on or under the sea:

• offshore oil drilling

— offshore adverb :

• There have been complaints about capital being invested offshore.

• He worked offshore on an oil rig.

  [m0] ▪ II. offshore offshore 2 verb [transitive]
MANUFACTURING if a company offshores jobs or an activity, it moves them to a foreign country where costs are lower:

• Some 3,000 formerly British jobs have been offshored each year since the millennium.

— offshoring noun [uncountable] :

• We are particularly concerned about the offshoring of high-tech jobs.

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Ⅰ.
offshore UK US /ˌɒfˈʃɔːr/ adjective [before noun]
► FINANCE used to describe companies or investments that are based in a country that is not the home country and that has lower tax, weaker laws, etc.: »

an offshore bank/company/investment

► ECONOMICS, HR, WORKPLACE used to describe the business activities of a company that happen in a different country to the one where the company is based, where costs may be lower: »

The subject of offshore jobs is one of the most politically charged this year.

► PRODUCTION, NATURAL RESOURCES connected to the production of oil and gas at a distance from the land or under the sea: »

offshore reserves of oil

 »

Drilling offshore oil is still profitable.

offshore adverb
► »

The company had no alternative but to move offshore .

→ Compare ONSHORE(Cf. ↑onshore)
Ⅱ.
offshore UK US /ˌɒfˈʃɔːr/ verb [T]
► ECONOMICS, HR, WORKPLACE to have work done in another country, often because costs are lower there: »

Product design is relatively difficult to offshore.


Financial and business terms. 2012.

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