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Tags: money laundering, tax evasion
Categories: Economics & Finance
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.
(read more: investopedia.com)
