• Offshore activity refers to any (business) activity that takes place outside the organization’s home base.
  • The term can be used to describe foreign banks, corporations, investments and deposits.
  • A company can legally move offshore for the purpose of tax evasion or to obtain more lenient regulations.
  • Offshore financial institutions can also be used for illegal purposes such as money laundering and tax evasion.
  • Increased pressure leads to the fact that the international tax authorities receive more information about foreign accounts.