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Ireland is a top-five conduit OFC, the largest global tax haven, [1] [2] and the third-largest OFC shadow banking centre. [3] An offshore financial centre (OFC) is defined as a "country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy." [a] [4]
A report published in Nature in 2017 on the analysis of offshore financial centres called: "Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network", [4] provided a quantitative and scientific approach to the classification of tax havens. [34] [35] [1] [3]
Offshore financial centre, a term synonymous with a tax haven; Conduit and sink OFCs, a categorisation of offshore financial centres/tax havens; Optional federal charter, a proposal to streamline and simplify US insurance regulation; Ottawa Folklore Centre, a former instrument and music store in Ottawa, Canada
Jersey-based financial organisations provide services to customers worldwide, including multi-currency banking, offshore mortgages and investment solutions. It is home to banking organisations from across the globe. [4] In June 2020, it was reported that there were 13,450 jobs within this sector. [6]
The advantage to offshore investment is that such operations are both legal and less costly than those offered in the investor's country—or "onshore". Locations favored by investors for low rates of tax are known as offshore financial centers or (sometimes) tax havens. Payment of less tax is the driving force behind most 'offshore' activity.
A financial centre (financial center in American English) or financial hub is a location with a significant concentration of participants in banking asset management, insurance, and financial markets, with venues and supporting services for these activities to take place.
The offshore finance industry refers to the use of structures in offshore financial centres in connection with financing transactions. Subcategories This category has the following 6 subcategories, out of 6 total.
Offshore financial centre From the plural form : This is a redirect from a plural noun to its singular form. This redirect link is used for convenience; it is often preferable to add the plural directly after the link (for example, [[link]]s ).