What does offshore mean?

The term offshore refers to an area outside one's national borders, this area can be land or water-based. The term can be used to describe international banks, companies, deposits, and investments. Offshore can be referred to as a variety of foreign-based entities or accounts. In business, the word offshore means in another country.

A company can be legitimately registered as an offshore company for the purpose of tax avoidance or relaxed regulations.