Offshore

ˌɔːfˈʃɔːr

Meaning & Definition

noun

a location situated directionally away from the shore.

The fishermen ventured further offshore to catch larger fish.

verb

to transfer business operations to a location outside the home country, often to reduce costs.

The company decided to offshore its customer service operations to improve efficiency.

adjective

located or based at a distance from the shore.

The company invested heavily in offshore wind farms to generate renewable energy.

involving or relating to financial services situated outside a country's jurisdiction.

We moved our investments to an offshore account to take advantage of tax benefits.

pertaining to activities or enterprises that are conducted at sea or over water.

The offshore drilling operation was halted due to environmental concerns.

From 'off' + 'shore', meaning away from the shore.

offshore banking

Banking services provided outside of one's country, often for tax benefits.

offshore drilling

The process of extracting oil or gas from beneath the ocean floor.

offshore outsourcing

The practice of hiring third-party services from overseas.

offshoring

The practice of moving business operations to another country.

offshore wind

Wind energy generated from turbines located in the ocean.

offshore company

A company that is registered in a foreign jurisdiction to take advantage of favorable regulatory conditions.

A term used for businesses that operate outside of regulatory norms.

That startup is considered offshore because they register in tax havens.

Referring to activities that are hidden or undisclosed, often in a financial context.

He's known for offshore dealings that evade scrutiny.