Offshore Financial Center
/ˌɔfˈʃɔːr ˈfaɪnænʃəl ˈsɛntər/
Definitions
- (n.) A jurisdiction or country that provides financial services to non-residents on a scale disproportionate to its domestic economy, often offering tax advantages and confidentiality.
Many multinational companies use an offshore financial center to manage their international tax obligations.
Forms
- offshore financial center
- offshore financial centers
Related terms
See also
Commentary
OFCs are legally significant for their regulatory frameworks facilitating cross-border finance, often scrutinized in tax and compliance law contexts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.