Offshore Enterprise Law and Legal Definition

Offshore Enterprise is an establishment in a foreign country. This is generally established in aid for an onshore enterprise. In balance of payments statistics, the residency of so called “offshore enterprises” is attributed to the economies in which they are located without regard to the special treatment they may receive by the local authorities, such as exemptions from taxes, tariffs, or duties. This treatment applies to enterprises such as those engaged in the assembly of components manufactured elsewhere and in the processing of re-exported goods; those engaged in trade and financial operations; and those located in special zones (e.g., special trade zones, free-trade zones, or tax havens).