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Explain Offshore Operations

Offshore Operations: 1. Situated or based outside of one's national boundaries. The word offshore is employed to explain foreign banks, investments, corporations, and deposits. A company might legitimately move offshore for the aim of tax avoidance or to get pleasure from relaxed regulations. Offshore financial institutions can too be employed for illicit purposes like money laundering and tax evasion.

2. Offshore can too refer to oil and gas drilling operations which are conducted in the sea.

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