offshore Definition
- 1located or situated beyond the territorial waters or coastal baseline of a country
- 2relating to the business of extracting oil or gas from wells drilled in the seabed
Using offshore: Examples
Take a moment to familiarize yourself with how "offshore" can be used in various situations through the following examples!
Example
The company has offshore accounts in the Cayman Islands.
Example
Offshore drilling is a controversial issue due to environmental concerns.
Example
The offshore wind farm generates renewable energy for the region.
offshore Synonyms and Antonyms
Phrases with offshore
banking activities conducted outside the country of residence of the depositor, typically in a low-tax jurisdiction
Example
Many wealthy individuals use offshore banking to avoid paying high taxes.
a company registered in a country other than the one in which it conducts its operations, often for tax or legal reasons
Example
The multinational corporation has several offshore companies to take advantage of tax benefits.
an investment made in a foreign country, often for tax or financial gain
Example
The investor diversified their portfolio with offshore investments in emerging markets.
Summary: offshore in Brief
The term 'offshore' [ˌɒfˈʃɔː(r)] refers to something located beyond the territorial waters or coastal baseline of a country. It can also relate to the business of extracting oil or gas from wells drilled in the seabed. Examples include offshore accounts and offshore wind farms. Phrases like 'offshore banking' and 'offshore investment' denote financial activities conducted outside the country of residence for tax or financial gain.
