offshore

offshore

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The term "offshore company" or "offshore corporation" is used in at least two distinct and different ways. An offshore company may be a reference to:

a company, group or sometimes a division thereof, which engages in offshoring business processes.
International business companies (IBC) or other types of legal entities, which are incorporated under the laws of a jurisdiction, that prohibit local economic activities.
The former use (companies formed in offshore jurisdictions) is probably the more common usage of the term. In isolated instances, the term can also be used in reference to companies with offshore oil and gas operations.

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