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2 days ago · Offshore is a website that covers the latest news and technical content for the offshore oil, gas and renewable energy industries worldwide. Find articles, reports, white papers and special reports on topics such as drilling, production, pipelines, subsea, geosciences and more.
Aug 7, 2012 · OFFSHORE definition: 1. away from or at a distance from the coast: 2. (of companies and banks) based in a different…. Learn more.
- What Is Offshore?
- Understanding Offshore
- Offshoring and Tax Avoidance
- Advantages and Disadvantages of Offshore Investing
- The Bottom Line
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The term offshore refers to a location outside of one's home country. The term is commonly used in the banking and financial sectors to describe areas where regulations are different from the home country. Offshore locations are generally island nations, where entities set up corporations, investments, and deposits. Companies and individuals (typic...
Offshore can refer to a variety of foreign-based entities, accounts, or other financial services. In order to qualify as offshore, the activity taking place must be based in a country other than the company or investor’s home nation. As such, while the home base for a person or company may be in one country, the business activity takes place in ano...
Offshoring is perfectly legal because it provides entities with a great deal of privacy and confidentiality; however, authorities are concerned that OFCs are being used to avoid paying taxes. As such, there is increased pressure on these countries to report foreign holdings to global tax authorities. For instance, the Swiss are known for their stri...
Advantages
Taking your investments abroad to an OFC may also help you diversifyyour portfolio. By going international and investing in different asset classes and currencies, you can help cut down the risk to your overall investments. You're very apt to get favorable tax treatment on your investments, depending on where you hold your assets. For instance, the Cayman Islands doesn't impose taxes on income, dividends, or capital gains, which means you get to keep more of the money you earn. Your assets ge...
Disadvantages
Holding accounts offshore subjects you to more scrutiny. That's because it's often seen as a way for people to avoid paying taxes. If you don't report your holdings to your tax authority, such as the Internal Revenue Service (IRS), you could be in serious trouble. As mentioned above, even though some jurisdictions provide complete confidentiality to account holders, an increasing number of countries are becoming more transparent with tax authorities. This means you could be on the hook if you...
Going offshore is usually an option meant only for corporations or people with a high net worth. Those who do go offshore do business, open bank accounts, or hold investments anywhere overseas. Although going offshore isn't illegal, it does put the entity up to more scrutiny. That's because people often use it as a way to avoid paying taxes. Howeve...
Offshore refers to any activity that takes place outside one's home country, often for tax, regulatory, or asset protection reasons. Learn about the types, benefits, and risks of offshore business, investing, and banking.
SPE Offshore Europe is a chance to connect the regulators, operators, vendors, sub-contractors and potential entrants together in a positive atmosphere. SPE Offshore Europe is the premier show for oil and gas in Europe.
Apr 18, 2024 · Learn about the process of getting into offshore work, the types of roles and skills required, and the salaries and duties of different offshore careers. Find out how to research, train and prepare for offshore jobs in the oil, gas or wind sector.
Professional offshore vacancies direct with energy companies. Freelance offshore energy jobs UK North Sea, Scotland and worldwide.
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Offshore Technology is a website that covers the latest news and trends in the offshore oil and gas industry. Find out about mergers, discoveries, projects, themes, data insights and more.
